PHOENIX, January 27, 2017 /PRNewswire/ --
Lithium Exploration Group Inc. (USOTC: LEXG) today announced the Company has published an online presentation further detailing the recently disclosed a pending $1.2 million contract for access to the 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:
$1.2 Million Contract Overview
The pending contract calls for LEXG's strategic engagement with an integrator of various technologies and services that amount to a turnkey capacity for delivering usable lithium ready for battery production. In addition to explaining in greater depth the contract under negotiation, the presentation discloses further measures LEXG is currently undertaking in conjunction with the contract under negotiation.
Lithium Bull Market Fueled By President Trump
The presentation includes a market-wide perspective on the lithium bull market fueled in no small part by President Trump's Inauguration and some of his recent lithium industry related actions such as his inclusion of Tesla's CEO, Elon Musk on the President's Council of Business Leaders, and the President's demand for the automotive industry to create more US jobs and how increased electric car production might generate those jobs.
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 testing its SonCav Technology and the acquisition of oil and gas related assets in Western Canada. Lithium Exploration Group is traded on the OTC Markets under the symbol LEXG.
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.