Disclosure NewswireTMiCrowdNewswire - Jan 3, 2018
Lithium Exploration Group Inc. (OTCPINK: LEXGD) CEO Alex Walsh updates shareholders on company activities:
Last year was a very busy year that brought about an important transformation in the history of our company. We initiated the strategic investment in oil and gas assets through a subsidiary entity, with the goal of generating positive cash flow to fuel our technology driven endeavors. We also expanded our reach in the lithium space by executing an LOI to purchase a set of battery patents. I plan to use 2018 to expand upon these goals of diversification and expansion.
I have been asked about Bitcoin regularly over the past six or eight weeks. At first, I was very skeptical of Bitcoin in general but I have changed my general opinion on it as a currency or investment opportunity. I have done a lot of research and have been able to talk with a number of people in the industry. I think setting up a cryptocurrency mining operation could be very interesting. I am not going to put all of our eggs in that basket, but it is an emerging industry that we would be silly not to explore as a part of our overall strategy.
There are three important things to know about LEXG for January 2018:
- The White Top oil project is moving along as expected with an anticipated initial closing this month. We have been working almost non-stop on this project and, with the data we are getting from the seismic shoot, we could not be happier with the prospects. This project has to be a huge success. At the same time, we have to move it forward and this initial investment will be a big step in that direction.
- We are still evaluating the Korean battery patents on which we have an option. The biggest question with that portfolio is the ability to commercialize the batteries that have been tested to date. We know they can be made and we know they work, but we are not clear just yet on the addressable market, the investment required, and overall returns on that investment. Stay tuned on this score as we will have to make a decision soon
- The SonCav unit in Houston is ready for demonstration, and we are all very excited to see them officially kick off the water purification unit. We are in the process of finalizing the expansion of our sales agency with our partners at SonCav and are enthusiastic about what they are working on and what we will see in the future.
The final item for discussion is my intent to rebrand Lithium Exploration Group as Black Box Enterprises. This will take place at some point in the first or second quarter, but is much more appropriate given that lithium is only a part of what we do but everything we are trying to do involves innovation and black box concepts.
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: 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.