Lithium Exploration Group Inc (OTCMKTS:LEXG) Targets $5-7M Research Contract


Lithium Exploration Group Inc (OTCMKTS:LEXG) shares were flat at $0.00280 on Tuesday and down 3.57% to $0.00270 in after-hours trading. Share prices have been trading in a 52-week range of $0.00 to $0.12. The company has a market cap of $719K at 256.89 million shares outstanding.

Lithium Exploration Group is an exploration-stage company that is engaged in the acquisition, exploration and development of resource properties. It is focused on the acquisition and development of assets in Alberta, Canada. Its Ultrasonic Technology assists in separating suspended solids from brine water. The technology is based around a transportable ultra-sound reactor. It has applications in the oil and gas, and mining industries.

The Ultrasonic Generator can desalinate water at a rate of over 25 to 35 cubic meters per hour. The two discharge streams are distilled water and marketable minerals, although flow rates will vary depending on the salinity level of the input stream. The Ultrasonic Generator also has the ability to upgrade crude oil and can upgrade crude oil into petroleum products. The Ultrasonic Generator’s by-products are clean water or steam and minerals.

In a press release, Lithium Exploration Group shared that it received a report authored by Eric R. Dix of Innovation Associates on evaluating a targeted portfolio of U.S. Patented Lithium Technologies. These targeted lithium patents are part of a suite of products being evaluated by the company in conjunction with a recently announced strategy. The company estimates that the cost to develop the portfolio is somewhere around $5-7 million.

The target portfolio is the foundation of the $1.2 million contract we recently announced where LEXG is considering an investment in our client’s technology.  We wanted to do an independent analysis of their portfolio to ensure that it has legs as we finalize the negotiation of our licensing deal with them,” commented Lithium Exploration Group CEO Alex Walsh.  “Our initial analysis shows that these patents are certainly worth the effort.  We are excited to continue our testing this week in Houston which will include a in person demonstration with the group that we are in discussions with about a $1.2M contract.”

The highlight of the portfolio is the series of patents that are geared towards solving overcharging issues like those encountered by the Samsung Galaxy Note 7. This strategy calls for the company’s strategic engagement with an integrator of various technologies and services that amount to a turnkey capacity for delivering usable lithium ready for battery production.

The details were disclosed in a presentation, which includes a market-wide perspective on the lithium bull market fueled partly by Trump’s administration and his inclusion of Tesla CEO Elon Musk in his group of business advisors. The US President has also expressed desire for the automotive industry to create more US jobs and how increased electric car production might generate those jobs. The presentation also discloses further measures that Lithium Exploration Group is currently undertaking in conjunction with the contract under negotiation.

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