/UCW/ PHOENIX, AZ – Lithium Exploration Group Inc. (USOTC: LEXG) announced today that it has entered into a purchase agreement to acquire a series of lithium patents for the retail consumer. The core US patent being acquired is number 9,444,087, which provides two- and four-pack AA size lithium batteries with a charging pack that can replace many day-to-day applications of traditional alkaline battery uses. These patents were developed in South Korea, have already completed the testing phase, and have established manufacturing capabilities in China. LEXG intends to partner with the inventor in the coming months and take this product directly to consumers in 2018.
“This portfolio represents the classic story of an inventor who got his technology close to the finish line and ran out of funds. We have done a lot of due diligence on the patents and feel that, with the right financial partner in the US, his batteries could be selling online in less than six months,” commented CEO Alex Walsh. “As one of the longest standing names in the lithium, petro-lithium, and lithium technology industry, we will use all of our connections and capabilities to get this outstanding invention to market next year. Ultimately this is a very small expense for tremendous upside if we can bring the right financial and strategic partners to the table. We have a very talented inventor who will stay on board and a great foundation of patents to work with.”
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.