Lithium Exploration Group Inc. (OTCQB: LEXG) CEO addresses shareholders with his monthly newsletter:
March was another strong month for Lithium Exploration Group. We began the month by completing the acquisition of 50% of Tero Oilfield Services and continued to expand our sales efforts at our Morinville Facility.
It is imperative that we continue to execute positively on our disposal business strategy: improving sales, trimming overhead, and minimizing wasteful expenses. We are a young company with success to date in restarting a suspended facility and acquiring an active asset, but we need to show that we are able to improve profitability and sales at these facilities. This will lead to additional acquisitions, increased profitability, and allow us the possibility of greater investment in our technology and lithium exploration efforts.
The quarter beginning April 1 and ending June 30 will be a huge bellwether for the future of LEXG. We expect to see continued revenue growth and profit margins at both of our facilities and, if we execute properly, we will be in a great position to expand all of our business interests.
The lithium marketplace has also been a hot topic of discussion in the past month. I put my two cents into the discussion last week but you should also consider reading this article put out by Lithium Investing News about what other companies are saying: http://lithiuminvestingnews.com/8586/lithium-stocks-demand-supply.
We consider that we are a strong player in the space because we are endeavoring to speed up the supply chain via our technology application, which will make it easier for us to time market fluctuations than traditional solar evaporation producers.
Our technology partners at Sonic Cavitation continue to develop their field testing program and, as soon as they have that program in place, we will be updating our shareholders accordingly. The critical step in expanding this technology is showing what it can do in a field application.
In the past month, we have considered four additional acquisition targets for our disposal business in Western Canada. We passed on three of the facilities and made an offer to purchase the fourth. Unfortunately that offer was not accepted. We are looking to add facilities that we feel fit the core of the business, but we are not going to overpay for a facility that we don't feel we can make meaningful improvements too.
We are full steam ahead and look forward to a bright future with you all as our partners!
Lithium Exploration Group, Inc.
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: 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.