PHOENIX, February 2, 2017 /PRNewswire/ --
Lithium Exploration Group Inc. (OTC: LEXG) announced today that CapRock Research has upgraded its Analyst Coverage on LEXG to a speculative 'buy' recommendation. CapRock initiated Analyst Coverage on LEXG in early December with an 'Accumulate' recommendation. CapRock's current near-term target stock price guidance for LEXG is $0.012 up from the December near-term guidance of $0.006. CapRock's current long-term target stock price guidance remains at $0.12.
CapRock's full 33-page research report on LEXG is available at:
LEXG Pending $1.2 Million Contract With Potential $1.5 Million Follow On
LEXG has made substantial business development strides since CapRock initiated coverage. Among other developments, LEXG recently disclosed a pending $1.2 million contract for access to its Sonic Cavitation Ltd. lithium harvesting technology that could lead to an additional $1.5 million in follow on contracts promptly after the execution of the initial contract:
About Lithium Exploration Group
Lithium Exploration Group is a US-based exploration and development company focused on the acquisition and development potential of lithium brines and other precious metals that demonstrate high probability for near-term production. Currently the company is focused on testing the SonCav Oil Unit and the acquisition of oil and gas related assets. Lithium Exploration Group is a fully reporting company traded on the OTC Markets under the symbol LEXG. Website: http://www.lithiumexplorationgroup.com
Safe Harbor Statement
This news release contains "forward-looking statements". Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future testing of the ultrasonic technology.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of lithium prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements.
Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
SOURCE Lithium Exploration Group Inc.