Lithium Exploration Group Sets Sights on New Assets
SCOTTSDALE, Ariz., April 23, 2013
SCOTTSDALE, Ariz., April 23, 2013 /PRNewswire/ --Lithium Exploration Group
(OTCQB: LEXG) today updated shareholders on its acquisition progress. As
reported earlier this month, technology partner GD Glottech International
(GDGI) has secured facilities in Houston, TX, to assemble, test, and
manufacture new Ultrasonic Cavitation Generators (UCGs). In light of this new
development, Lithium Exploration Group has decided not to proceed in the
potential acquisition of a machine shop, as previously stated.Lithium
Exploration Group remains committed to the strategy of acquiring assets in
order to expand its balance sheet and provide cash flow to sustain the
company's operations during the testing of this UCG technology and exploration
of its lithium assets.
"We're excited about the expanded operations of our partners at GDGI and feel
that this opportunity will allow us to free up cash and focus on this and
other verticals, such as acquiring assets and cash flow to help us accomplish
many of our near-term goals," commented CEO Alex Walsh. "Although we're
extremely close on all fronts, I can't yet disclose names or terms, but hope
to have things wrapped up in short order and be able to update shareholders
Given these new developments, the company felt that it would be advisable to
delay the previously announced road-show, scheduled to kick off this week in
Canada, until mid-May or to a date when these projects are fully merged into
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 property.
Lithium Exploration Group is a fully reporting company traded on the OTCBB
under the symbol LEXG. Website: www.lithiumexplorationgroup.com. Lithium
Exploration Group is also on Facebook, LinkedIn and Twitter @LEXG_OTCBB.
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, including but not limited to the completion,
testing, transportation, and final installation of the unit.
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
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.
SOURCE Lithium Exploration Group
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