July 25, 2017 7:59 AM ET

Metals and Mining

Company Overview of Lithium Exploration Group, Inc.

Company Overview

Lithium Exploration Group, Inc. engages in the acquisition, exploration, and development of resource properties in Canada. The company explores for lithium brines and other precious metals. It focuses on testing its SonCav technology and the acquisition of oil and gas related assets. The company was formerly known as Mariposa Resources, Ltd. and changed its name to Lithium Exploration Group, Inc. in November 2010. Lithium Exploration Group, Inc. was founded in 2006 and is based in Phoenix, Arizona.

3800 North Central Avenue

Suite 820

Phoenix, AZ 85012

United States

Founded in 2006

2 Employees

Phone:

480-641-4790

Fax:

480-641-4794

Key Executives for Lithium Exploration Group, Inc.

Chief Executive Officer, President, Treasurer, Secretary and Director
Age: 37
Total Annual Compensation: $120.0K
Consultant
Age: 44
Compensation as of Fiscal Year 2016.

Lithium Exploration Group, Inc. Key Developments

Lithium Exploration Group, Inc. announced delayed 10-Q filing

On 05/16/2017, Lithium Exploration Group, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC.

Lithium Exploration Group Acquires Louisiana Oil Field Asset with $700 Million Gross Revenue Potential

Lithium Exploration Group Inc. announced funding the second and final installment of its joint development agreement with White Top Oil and Gas. LEXG and White Top have entered into a partnership on April 13, 2017 to acquire and develop an oilfield outside of Lake Charles, Louisiana. With the installment announced on May 15, 2017, LEXG and White Top Oil and Gas have in turn completed the acquisition of a purchase option with development rights to a 4,000 acre oilfield with 13.6M barrels of oil ranging in depth from 3,000 to 12,000 feet. At an approximate current market price of $50 per barrel, the oilfield could produce as much as $700 million in gross revenue. The final investment fully funds an updated 100 fold 3d seismic study covering 16 square miles which will assist in the long term in fill drilling program that White Top has in place. LEXG has fully funded the seismic with White Top having the obligation to now raise drilling dollars and initiate the development program.

Lithium Exploration Group Inc Introduces New Lithium Battery Technology to End Fires and Explosions

Lithium Exploration Group Inc. announced that the company has a solution in the works that would put an end to the lithium battery fires made famous by the Galaxy 7 and reiterated in yesterday's headset explosion on a flight from Beijing to Melbourne. The technology is part of a portfolio of patented lithium related technologies to be acquired as part of an overall, comprehensive lithium solution. LEXG announced entering into a $1.2 million contract earlier this year to provide access to is Sonic Cavitation Technology as part of a full spectrum lithium solution ranging from exploration and mining to battery production. The patent portfolio acquisition is now pending legal review and finalization, having been through an intensive technology review.

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Recent Private Companies Transactions

Type
Date
Target
Private Placement
March 28, 2017
--
Private Placement
March 20, 2017
--
Merger/Acquisition
March 16, 2017
Patent Portfolio of Patented Lithium Related Technologies
 

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