SOURCE: Lithium Exploration Group, Inc.
SCOTTSDALE, AZ--(Marketwired - Feb 19, 2014) - Lithium Exploration Group Inc. (OTCQB: LEXG) CEO addresses shareholders.
Almost three years ago, Lithium Exploration Group invested in a technology that has disruptive and game-changing applications in water purification and oil upgrading. During these past 34 months, we have experienced some twists and turns (both expected and unexpected) but never wavered from our resolve to support and develop this technology to its fullest potential. Every move we have made over the past three years has been with the intent of developing a business that could marry the stability of cash flow with the upside of technology development. With the successful initial testing in Houston last week, we are prepared to execute swiftly on the strategy we have developed for each of our target markets.
- Mineral Extraction
Our core business has been the extraction of lithium and other precious metals from salt-water brines, which are the by-products of oil and gas production. The Ultrasonic Generator will help extract minerals from brine water and, as it is further developed, will produce opportunities with other projects in the Canadian mining industry that require a water treatment technology to be viable.
- Technology Distribution
Central to the investment we made in the Ultrasonic Generator was the relationship we forged early on with Glottech International and now with Sonic Cavitation) to act as the Sales Agency or Distributor of this technology in Canada. Our distribution rights are exclusive in the mining industry throughout Canada and non-exclusive for all other industries. We believed in the technology and invested in this relationship, and expect the revenue stream from this part of the business will be significant.
- Oilfield Waste Disposal
As we have been identifying the ideal way to vertically integrate our company, we began acquiring waste disposal facilities in Alberta. These facilities have the regulatory approvals, insurances, and facilities to process minerals for our mineral extraction business and can benefit operationally from utilizing certain applications of the Ultrasonic Generator which will result in increased efficiencies and profitability for all of our businesses. We also intend to use these facilities as a sales tool, showing the technology units operational in the field to prospective customers.
These three areas of business are independent but each tie into the Ultrasonic Generator development and deployment. They have been moving ahead at different paces over the past months and years, but finally, with the positive testing result in Houston, we can move aggressively forward on all three.
It has been my privilege to bring all these pieces together, and I am extremely proud of the work our team has done to bring this to fruition. I am particularly grateful for the patience and understanding shown by our shareholders and investors. Some of you have been with us from the beginning; others have joined us along the way. Either way, we are delighted to have you with us as we embark on this, the most exciting phase of our journey... stay tuned.
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 on its Western Canada lithium assets, testing its Ultrasonic Generator Technology and the acquisition of oil and gas related assets in Western Canada. Lithium Exploration Group is a fully reporting company traded on the OTCQB 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.