Lithium Exploration Group Announces New Agreement With Technology Provider
SCOTTSDALE, Ariz., Nov. 21, 2011 /PRNewswire/ -- Lithium Exploration Group (OTCBB – LEXG) announced in a Form 8K filing today that on November 18, 2011 they entered into a new agreement with their technology partner to replace prior agreements. The new agreement includes the same exclusivity features from the prior agreement and additionally provides distribution rights to Lithium Exploration Group for the Glottech technology in Canada.
"We have exclusivity for use of the technology in the mining industry and complete exclusivity in the area surrounding our Valleyview Project, but there are many other parts of the country and many other industries that could benefit from using this technology. It only makes sense for us to assist in the distribution of the technology to other industries in Canada," commented CEO Alex Walsh. "This company was built on the premise of diversity by planning for multiple revenue streams in addition to the production of lithium. This additional potential for revenue will only benefit our shareholders. We have also invested in an exploration oil well near our Valleyview Project, giving us access to the core samples taken as part of the oil exploration. We will benefit from the information gathered from that exploration, and now that they have completed the well, there are very good prospects that our working interest in that well will produce revenue for Lithium Exploration Group sometime in the second quarter of 2012. These additional revenue streams will protect our shareholders from the dilution that most exploration companies experience while trying to advance their projects."
About Us
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 and South America properties. 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 now on Facebook, LinkedIn and Twitter @LEXG_OTCBB.
Safe Harbor Statement
This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. 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.
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
[email protected]
SOURCE Lithium Exploration Group
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