PHOENIX, AZ, United States, via ETELIGIS INC., 04/02/2015 – – Lithium Exploration Group Inc. (OTC Pink: LEXGD) (PINKSHEETS: LEXGD) (OTC Pink: LEXG) (PINKSHEETS: LEXG), reported that it is exploring the acquisition of oil and gas production in Alberta. The company has initiated initial due diligence on one company and has initiated discussions with potential financing partners in the U.S. to fund the investment. The investment will be done via a simple debt instrument with security over the asset but not convertible into stock.
“The oil and gas producers across North America have been forced to reevaluate corporate overhead, and exploration budgets due to the steep and sudden decline in crude oil prices in the second half of 2014. Many of these producers are being forced to raise cash, which presents opportunity to invest as a non-operating working interest partner in solid assets that just need shelter to ride out the storm. It also helps to have U.S. dollars going into Canada; the Canadian dollar is currently at a historically weak level,” commented CEO Alex Walsh. “We feel that this is a great time to be a buyer and have a future home for our technology, but are not willing to take that investment on as convertible debt as we have in the past because of its impact on our capital structure.”
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.