PHOENIX, Arizona, September 19, 2017 /PRNewswire/ --
Lithium Exploration Group Inc. (USOTC: LEXG) announced today that it has submitted an offer to purchase two lithium patents owned by a South Korean entity. The patents cover 13 developed countries and center around replacement rechargeable battery packs for external flashes used in many models of cameras and a "AA" applications in all devices that use "AA" batteries. The prototype process for the external flash battery patent has been completed and is ready to go to market. The company intends to hire the inventor of these patents to assist in the go to market strategy and develop other patents.
"The patent broker has submitted the offer to the owners and based on our discussions we are hopeful that it is accepted. The inventor has a number of other ideas that will not require significant capital to patent and has contacts to the battery manufacturing community in China that will be able to assist in future prototype work and commercialization," commented CEO Alex Walsh. "We have been exploring opportunities on the lithium battery side of the industry for a better part of the last 12 months and I believe that have identified a great partner and patents that come along with him."
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.