PHOENIX, September 29, 2017 /PRNewswire/ --
Lithium Exploration Group Inc. (OTCPINK: LEXG) CEO Alex Walsh updates shareholders on company activities.
I wanted to take this opportunity to update you on our ongoing efforts at LEXG. As you may have noticed, we filed our annual Form 10K with the SEC yesterday; it can be found at http://www.sec.gov and at many other financial outlets. We took extra effort this year to clean it up, and hope that it is more user-friendly so that you can understand our current business activity and our goals for the company in the coming year.
We have been extremely busy with the annual audit and some other strategic initiatives which I hope to be able to announce in the coming weeks. Our core business and primary focus remains the distribution and proliferation of the SonCav technology, but when opportunities present themselves that can be complementary to our core efforts, we have historically tried to take advantage of them.
As announced earlier this month, we have initiated an offer to partner with the inventor of two lithium battery patents. The initial feedback has been positive and we hope to have a resolution on that in October. We have also made a substantial investment in an oil project in Louisiana where, in the coming weeks, we expect to receive the processed data from the seismic shoot, which was completed in September. These strategies will hopefully be synergistic to our efforts in our core business, but we would not have entertained them if we did not feel that they could ultimately generate a positive financial benefit to our company and our shareholders.
The past year has been all about cleaning up our balance sheet and positioning ourselves for the next chapter, which I hope to be the positive generation of revenue and profit. We are very close to this eventuality and look forward to announcing many positive developments in the 4th quarter.
Lithium Exploration Group
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. Lithium Exploration Group is traded on the OTCPINK 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.