PHOENIX, April 03, 2018 (GLOBE NEWSWIRE) -- Via OTC PR Wire -- Lithium Exploration Group Inc. (OTCPINK:LEXG) CEO Alex Walsh updates shareholders on company activities.
Dear Shareholders,
We’ve closed the books on the first calendar quarter of 2018 and are looking to finish strong in the final quarter of our fiscal year, ending June 30, 2018. I have a very simple goal for the company this quarter: to finalize the royalty conversion at the White Top field. This will set us up to be able to function without any external capital, with the goal of presenting a positive earnings number in FY2019. The ability to self-finance our overhead and growth projects, like Blockchain and a SonCav sales force, will provide LEXG the foundation to become a dynamic technology development company.
As discussed last month, we are going through a number of internal structuring pieces to rebrand our future efforts and provide clarity to the markets on who we are and what we are trying to accomplish. Our Blockchain efforts in the oil and gas industry are still going forward but we are not spending any money on those efforts until after the royalty acquisition is completed. We are budgeting and getting all of the pieces in place for that effort and will look to partner with a couple of external companies to create the Blockchain marketplace that we will manage. Look for weekly updates from us on a number of fronts for the next month or so as all of these moving parts come together.
Oil has continued to stabilize above 60 even in the highly volatile domestic stock market which I see as a great sign for the stability of that market and cash distributions from our project in Louisiana.
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