SCOTTSDALE, Ariz., Feb. 26, 2013 /PRNewswire/ -- Lithium Exploration Group (OTCQB: LEXG) announced today that it is in discussions to acquire a manufacturing facility, located in Arizona, home of the Company and its management. The deal which is in advanced discussions will hopefully close in March, at which time the Company will provide all the details but suffice to say that the move will benefit every aspect of the burgeoning technology business of LEXG.
"We are excited about this opportunity to partner with a niche manufacturer that can not only provide services on the development of the ultrasonic generator but who brings real sales and revenue to the Company. It is our firm belief that we can immediately increase their revenues by 100% just through our connections in the Canadian oil and gas industry," commented CEO Alex Walsh. "This acquisition will provide continuity for the development of all of the future technology units as well as a base of operations for the R&D work that we will be performing in the future."
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 on its Western Canada property. Lithium Exploration Group is a fully reporting company traded on the OTCBB under the symbol LEXG. Website: www.lithiumexplorationgroup.com. Lithium Exploration Group is also on Facebook, LinkedIn and Twitter @LEXG_OTCBB.
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, including but not limited to the completion, testing, transportation, and final installation of the unit.
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