PHOENIX, October 3, 2017 /PRNewswire/ --
Lithium Exploration Group Inc. (USOTC: LEXG) announced today that it has reached an agreement with SonCav to expand its sales territory to cover lithium extraction applications in North and South America. After successful prototype testing of the Oil Unit in Texas over the past 15 months Lithium Exploration Group will now focus all of its efforts on sales and distribution of the SonCav technology to corporate partners. The expanded relationship will give Lithium Exploration Group the ability to target long term distribution relationships with existing producers and initiate discussions with companies that are still in the development phase.
"We are extremely excited to make this announcement. We are one of the most recognizable brands in the lithium industry and ultimately want to be able to use that brand to work collaboratively with exploration and development companies to bring this amazing technology to the lithium market," commented CEO Alex Walsh. "We have preached for years that this technology has the ability to significantly reduce capex required to extract lithium from continental brines and speed up the extraction process. In many cases, the utilization of the SonCav technology could be the difference between a project being viable or not. Our goal is to present this technology to every lithium producer from here to Santiago in the next year."
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 the Sonic Cavitation Ltd. technology and the acquisition of oil and gas related assets in the US and Canada. Lithium Exploration Group is traded on the OTC Markets under the symbol LEXG.
Website: http://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.
SOURCE Lithium Exploration Group Inc.
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