Lithium Exploration Group Completes Acquisition of Blue Tap
SCOTTSDALE, AZ -- (Marketwired) -- 10/21/13 -- On Friday, October
18, Lithium Exploration Group Inc. (OTCQB: LEXG) funded the third
installment payment to complete the acquisition of the Blue Tap
disposal facility near Morinville, AB. All of the required closing
documentation contemplated in the June 11, 2013 Letter of Intent was
executed on Friday. The site work to bring the facility to active
status is underway and is expected to be completed shortly.
"We are glad to have finalized this transaction. It's the first of
many planned acquisitions in the disposal space and it is critical
that we execute flawlessly on these first few transactions to set a
good foundation for the future. This Morinville facility has great
potential as one of only a handful of Class Ia facilities in the
region," commented CEO Alex Walsh.
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.
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