PHOENIX, AZ, United States, via ETELIGIS INC., 03/02/2015 – – Lithium Exploration Group Inc. (OTC Pink: LEXG) (PINKSHEETS: LEXG) (OTC Pink: LEXGD) (PINKSHEETS: LEXGD), announces revenue for first half of FY2016. Tero Oilfield Services, 50 percent owned by Lithium Exploration Group, booked $681,000CND in gross sales for the first six months of Lithium Exploration Group’s fiscal year.
“We only consolidate half of that revenue onto our books but I think it is important for folks to understand that this is a solid business with daily customers over the past 17 years. We also feel strongly that there is a lot of long term potential for Tero to expand its product offering and customer base which would add revenue and profitability,” commented CEO Alex Walsh. “It has been especially impressive through some very hard times over that six month period for many other companies that service the oil and gas industry. Our goal is to get our technology going at Tero so we can really add value to this already successful business.”
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 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.