Lithium Exploration Group Inc. (OTCQB: LEXG) CEO addresses shareholders with his monthly newsletter:
We continue to focus our efforts on our disposal businesses in Alberta to finish the year in a strong position and to set ourselves up for a great FY2015, the first full year with these assets as part of our business.
Here is a brief update on both of our facilities:
Morinville -- We are currently turning away business on high traffic days because we don't have enough storage tanks on site at present. This is a good problem to have, but we must be conscious of customer needs and we are presently working with the regulators to increase our storage near term to get through the summer.
We also have engaged an engineering firm to provide a plant expansion plan to bring the facility up to regulatory standards that will allow us to dispose of a wider variety of much higher revenue liquid waste streams.
Wardlow (Tero) -- We continue to work on quotes and designs for the custom treating operation we plan to add at the Tero facility. We have been discussing the expansion with customers to get their feedback and to better understand their needs. This expanded offering will be rolled out with a full marketing package to expand our customer base in the area. Many of the smaller customers simply cannot bring us their produced water because they need to have a third party remove the oil from the water before it can be disposed.
By adding custom treating, we feel that we will gather new customers for this service and be able to capture other solid waste disposal business at the same time.
Later this month, our oil unit is in process to arrive in Texas, where final assembly and modifications will be made. We are looking forward to getting that unit up to Wardlow promptly to work on the commercialization of this great technology.
Our partners at Sonic Cavitation recently set up a Facebook page (www.Facebook.com/SonicCavitation) to help promote some of their humanitarian efforts and expand awareness of the technology. Check out and 'like' the page, there is some great information there.
As always, we have a lot going on at Lithium Exploration Group and we are looking forward to what is shaping up to be a pretty exciting summer. Next month I will produce our first "Annual Letter" which will not only provide a synopsis of FY2014 activity, but will also provide some insight into what next year will look like for LEXG.
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.