PHOENIX, January 24, 2017 /PRNewswire/ --
Lithium Exploration Group Inc. (USOTC: LEXG) today announced engaging Innovation Associates founded by leading advanced battery technology industry expert Eric R. Dix to evaluate a targeted portfolio of U.S. Patented Lithium Technologies. The targeted lithium patents are part of a suite of products being evaluated by LEXG in conjunction with a recently announced lithium aggregating entity. In the contemplated contract LEXG would receive an initial $1.2 million for access to the Sonic Cavitation Ltd. lithium harvesting technology. The $1.2 million would just be the beginning of regular income from the contract providing access to the Sonic Cavitation Ltd. lithium harvesting technology.
LEXG announced on Thursday, January 19, 2017, a presentation schedule to be published this week detailing the recently disclosed negotiation anticipated to result in the $1.2 million contract for access to the Sonic Cavitation Ltd. lithium harvesting technology. LEXG expects to publish the presentation before the end of this week.
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 will disclose further measures LEXG is currently undertaking in conjunction with the contract under negotiation.
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.
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.