PHOENIX, AZ, United States, via ETELIGIS INC., 03/09/2015 – – Lithium Exploration Group Inc. (OTC Pink: LEXGD) (PINKSHEETS: LEXGD) (OTC Pink: LEXG) PINKSHEETS: LEXG), CEO Alex Walsh discusses ongoing business activity in his March newsletter.
I want to take this opportunity to update you fully on the status of the technology, given the trials and tribulations of the past few weeks.
To call it a series of unfortunate events would be an understatement. The shipment of the ultrasonic generator, motor, and VFD was delayed by about a week at the end of January because we needed to ensure the appropriate customs paperwork was filed before our shipment hit the border. Then, when the shipment left Spring, TX, it was sent to the regional collection hub of a shipping firm that specializes in shipments from Texas to Alberta. It left that regional hub en route to Calgary and was involved in a major accident on the I-45 just south of Dallas in Corsicana.
Unfortunately, the accident happened over the Presidents Day weekend, which caused a delay in communication. Our contact knew the shipment was involved in an accident, but couldn’t tell us for a few days whether it had happened in Texas or South Dakota. Fortunately, it was just outside of Dallas. Then it was held hostage by the wrecking firm that collected the truck and debris from the side of the highway until the insurance company paid them for their services. A true case of possession is 9/10ths of the law.
The wrecking firm was finally paid last week and we successfully delivered the technology unit and other equipment back to Spring for inspection on Friday, March 6. We are going to have a conference call this morning to discuss the inspection procedures and will report back to you once we have answers after this lost month of progress. I think that the most frustrating part is that we know it works and my team in Alberta was ready and expecting to be completing initial testing as I type this letter, not waiting to get an update on what further delays there may be.
The silver lining here is that there is always strength in numbers, and the SonCav oil unit that spilled on the I-45 last month is not the only SonCav unit in play right now. The SonCav team in Texas have been working tirelessly over the past few months to get the water treatment unit ready for field testing.
This is the unit that was tested using fresh water last spring and no modifications have been made to it; rather componentry has been customized to assist in the collection of the flashed off vapor and waste byproduct. This was not needed last spring when we were merely superheating the fresh water without the need to remove any impurities. It is very close to being field-tested and, once they have collected that data, videos and testing results will be available for public consumption.
I have seen many technologies and their inventors over my years with LEXG and have never met anyone as dynamic as Dr. Glotov, the inventor of the SonCav generator. We have always been amazed at the potential of the application and we are excited to be here, at a point where commercialization is within reach. We certainly feel like we have been dealt a bad break with the crash last month, but continue to forge ahead with the task at hand, knowing that we are so close to the Promised Land.
Thank you all again for your support and we are hoping for better luck over the next few months.
Lithium Exploration Group
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 OTCQB 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.