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November 26, 2018 — Phoenix, AZ / Lithium Exploration Group Inc. (OTCPINK: LEXG) CEO Alex Walsh updates shareholders on company activities.
Dear Shareholders,
These are very exciting times for Lithium Exploration Group. We will consolidate our first revenue from the oil and gas override next month. We also are very excited about the continued efforts by SonCav to commercialize their technology in 2019. We have several additional initiatives to tackle in 2019, but the priority is financial stability and positive cash flow.
SonCav is on track and on time with its manufacture of full-scale commercial design water remediation units. The company already has an order backlog for 6-8 months of production on its books. SonCav has numerous other interested customers. Additionally, SonCav has secured a development contract for its oil processing machine. Development of a full-scale commercial design oil processing unit has started, with the first operational unit to be available early in 2019. The company expects demand for the oil processing unit to equal demand for the water remediation unit.
We will start to provide quarterly activity results for our oil investment so that you can all understand what we are growing towards. The important focus is that they are going to be drilling wells on a constant basis for the next three years and, as each of those wells come online, our monthly revenue will steadily rise. Our hope is to be profitable by next summer and have ten years of going concern while the SonCav technology grows and we develop other opportunities to benefit our shareholders.
If you are a new shareholder you might wonder why we are called Lithium Exploration Group. It really centers on the SonCav technology and its ability to solve a number of commercial fluid handling issues across many industries. The first target for LEXG was lithium extraction from oilfield brine. The lithium leases became too expensive to hold on to and, while we may go back to that target in the future, our near-term focus must be the applications that are quicker to get to market. The oil treatment application with the SonCav unit is greener and just as efficient as present technology used by the industry.
We also recently came across an opportunity to acquire small private water utilities and are beginning to explore that opportunity with our partners at SonCav on a domestic and international level. Ultimately it could be an opportunity for rural populations to solve their fresh water needs, allowing for the support of larger populations of livestock and humans. One of SonCav’s primary initiatives after the commercialization of this technology has always been to provide water purification resources for humanitarian needs all over the world. This effort in Canada would provide an amazing platform for future humanitarian efforts globally.
I wish you all a happy holiday season and look forward to giving you more updates between now and the New Year.
Sincerely,
Alex Walsh
CEO
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: 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.
Contact Info
Shanon Chilson
480-641-4790
info@lithiumexplorationgroup.com
Source: Lithium Exploration Group Inc.
Phoenix, AZ – November 13, 2018 – Lithium Exploration Group (USOTC: LEXG) announces the completion of the acquisition and drilling funding for the oil and gas development project in Louisiana. The transaction closed last week and immediate steps are being taken to complete the initial workovers that were identified from the seismic analysis completed earlier this year. Development drilling will then begin.
Lithium Exploration Group plans to immediately convert its investment into the override of gross production to which it is entitled and should receive its first ever positive revenue next month. The data from the seismic shoot last year has resulted in well over 100 drilling locations and the development budget will allow for one rig to be on site indefinitely for continuous drilling and completion efforts.
“At the request of our team in Houston and their financial partners, we were asked not to make any public announcements until after the transaction was completed,” commented CEO Alex Walsh. “This marks a new era for LEXG where we have revenue and stability to keep this company going indefinitely. We intend to continue to support the SonCav technology in their commercialization efforts, and will look forward to opportunities like this project in Louisiana to diversify our operations for the benefit of our shareholders. I will be releasing a detailed update on all of our operations, goals, and plans later this 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 sales and distribution of 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: 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.
Contact Info
Shanon Chilson
480-641-4790
info@lithiumexplorationgroup.com
Source: Lithium Exploration Group
About Lithium Exploration
Dedicated to Developing Assets and technologies in Oil & Gas, and Waste Treatment
Lithium Exploration Group is developing an ultrasonic generator for varied of field applications in the oil and gas industry. Since 2011, the Company has invested in this breakthrough technology that provides lower cost, low energy solutions to many pre-existing processes within these markets.
Lithium Exploration Group seeks to acquire and operate oil and gas assets throughout North America, with a focus on the Alberta, Canada region.
Our Story
Lithium Exploration Group was founded in 2006 and is a fully reporting company traded on the OTCPINK under the symbol LEXG.
ASSETS
White Top Field
The White Top Field is located onshore in Southwest Louisiana. The cumulative production to-date is 32 million barrels with current production at 120 barrels of oil per day. An aggressive, low-risk plan is in place to raise production rate in excess of 1,000 barrels per day through exploration of reservoirs that range from 3,000 to 10,000 ft. for development of wells throughout the site.
TECHNOLOGIES
SonCav
Ultrasonic Generator for Treatment of Fluid Stocks
Lithium Exploration Group has partnered with Sonic Cavitation, LTD to develop SonCav’s patented technology for the treatment of hydrocarbon fluid stocks and waste water. A SonCav unit reduces CapEx and OpEx for oil heating and separation applications.
Lithium Exploration Group (LEXG)
Lithium Exploration Group trades on the NASD:OTCPINK under the stock symbol LEXG.
Principal Regulator: SEC and FINRA
Jurisdiction of Formation: Nevada, USA
Industry Classification: Metal Mining
Auditor: RBSM LLP
CUSIP Number: 53680p100
Transfer Agent: V Stock Transfer, LLC,
77 Spruce Street, Suite 201
Cedarhurst, NY 11516
Financial Year End: June 30
Source: https://www.lithiumexplorationgroup.com/
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