PHOENIX, Jan. 31, 2018 (GLOBE NEWSWIRE) -- Via OTC PR Wire -- Lithium Exploration Group (USOTC:LEXG) announced today that it intends to file registration statements for an ICO to tokenize oil and gas assets in the US. The company has spent the last month doing intense research about blockchain technologies and cryptocurrency. After consultation with securities counsel and a number of industry experts, it has developed a strategy around utilizing the best benefits of blockchain technologies to solve structural issues that are present in the domestic oil and gas industry. The company has been heavily involved in the oil and gas space through its investment in an oil and gas project in the gulf coast, and feels that this ICO is consistent with its efforts in the industry. The tokens issued in the ICO will be backed by the purchased assets as part of the offering. The intent is to follow SEC guidelines under Rule 506 of Regulation D and be fully compliant with all US securities regulations.
"We have come to the conclusion that the oil and gas industry could benefit immensely from blockchain technologies. The utilization of transparency and digital recordkeeping to create a marketplace for investment can create alpha for investors," commented CEO Alex Walsh. "The plan we have designed will neutralize the 'old boy network' that rewards 'who you know' over 'what you know' in many of the most sought-after oilfields in the US. This will provide transparency and comfort to investors regarding what they are buying and what it is worth. We will reveal much more on our strategy as the disclosure documents are prepared but we are very excited about executing on this project."
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: 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