PHOENIX, August 30, 2017 /PRNewswire/ --
Lithium Exploration Group Inc. (USOTC: LEXG) announced today that it is engaged in discussions with the owner of two lithium battery patents to partner on the establishment of a lithium technology development company. LEXG intends to establish a subsidiary entity that will hold this intellectual property (IP) as well as others that come available. Currently the discussions center on appointing the inventor to be Chief Technology Officer of the subsidiary entity in order to evaluate market penetration of future IP acquisitions, as well as to support the research and development of new patents in the industry.
"At our core, we are a technology development company and we want to be on the forefront of the lithium industry. We feel strongly that the SonCav technology will change the way that lithium is extracted from the earth. The SonCav technology is on a great path and, with the visibility of success with our oil and gas investments, we will be able to reinvest those dollars to support emerging technologies across the industry," commented CEO Alex Walsh. "Over the past year, we have begun looking at novel intellectual property that we can assist in bringing to market. The important part for us is building a foundation now from which we can grow. I hope to be able to announce an agreement with this inventor as early as next week."
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 the Sonic Cavitation Ltd. technology and the acquisition of oil and gas related assets in the US and 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.