PHOENIX, March 06, 2018 (GLOBE NEWSWIRE) -- Via OTC PR Wire -- Lithium Exploration Group Inc. (OTCPINK:LEXG) CEO
Alex Walsh updates shareholders on company activities.
Dear Shareholders,
It has been an exciting beginning to the year -- with the completion of the seismic project at White Top and, finally, having a
tangible view towards revenue generation that has been a long time in the works. Below I have outlined some of the things we
are trying to accomplish as we close out Q1 and our goals for Q2.
In April, we will be rebranding our company under the Black Box name. This name and ticker change is largely cosmetic, but
I feel it is important for a complete understanding of what we have become and where we are going. We will have three
subsidiary entities: Black Box Energy, Black Box Blockchain, and Black Box Technologies. These three subsidiaries will
hold the contracts, assets, and intellectual property that we are developing in each of the three business verticals on which we
are presently focused. I think that it will give everyone a much clearer picture of the go-forward plan.
SonCav Technology Update: We have elected after discussions with our partners at SonCav to not finalize any strategic
partnership with the team at ALYI. At the end of the day, we have spent a better part of seven years building a strong
working relationship with the SonCav team and we have all agreed that this is not the right time to complicate that
relationship. They continue to work on a large commercial order for the Water Unit and on a final commercial design for the
Oil Unit that would be ready to go into the field immediately.
As you may recall, last summer we have been focusing all of our efforts on sales and distribution of the technology in
Canada. The next big step for that sales effort is to have a field unit in place as a “showroom” of sorts so that clients can
see and touch as they are making decisions about purchasing a unit for their own operations. We have been waiting to finalize
the White Top acquisition and start to put ourselves on more solid ground financially, but are still very interested in being the
purchaser of the first commercial Oil Unit, which will also significantly help our sales efforts.
Blockchain: We have had some great conversations with folks across the oil and gas industry about our blockchain
initiative. We feel strongly that smart contracts and digital ledgers are the future of oil and gas asset tracking, and we
plan to devote resources to this project in the coming months. This project will start in the US and Canada, but as the
intellectual property we develop evolves, it may extend to Europe and Asia.
White Top: As we discussed last week, the closing is in process and we are all very excited for the drilling program to begin in
April or May. The royalty from the field today is very modest but we made the strategic investment based on the team’s
expertise in finding recoverable oil in on shore shallow opportunities. The royalty revenue will increase significantly as
each well comes online.
I look forward to next month’s update and hope that oil continues to hold the $60 number as that update comes
out.
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
