Lithium Exploration Group CEO Discusses Bitcoin and Ongoing Operations in January Letter to Shareholders

02 Jan 2018

Lithium Exploration Group Inc. (OTCPINK: LEXGD) CEO Alex Walsh updates shareholders on company activities:

Dear Shareholders,

Last year was a very busy year that brought about an important transformation in the history of our company. We initiated the strategic investment in oil and gas assets through a subsidiary entity, with the goal of generating positive cash flow to fuel our technology driven endeavors. We also expanded our reach in the lithium space by executing an LOI to purchase a set of battery patents. I plan to use 2018 to expand upon these goals of diversification and expansion.  

I have been asked about Bitcoin regularly over the past six or eight weeks. At first, I was very skeptical of Bitcoin in general but I have changed my general opinion on it as a currency or investment opportunity. I have done a lot of research and have been able to talk with a number of people in the industry. I think setting up a cryptocurrency mining operation could be very interesting. I am not going to put all of our eggs in that basket, but it is an emerging industry that we would be silly not to explore as a part of our overall strategy.  

There are three important things to know about LEXG for January 2018:

  • The White Top oil project is moving along as expected with an anticipated initial closing this month. We have been working almost non-stop on this project and, with the data we are getting from the seismic shoot, we could not be happier with the prospects. This project has to be a huge success. At the same time, we have to move it forward and this initial investment will be a big step in that direction.
  • We are still evaluating the Korean battery patents on which we have an option. The biggest question with that portfolio is the ability to commercialize the batteries that have been tested to date. We know they can be made and we know they work, but we are not clear just yet on the addressable market, the investment required, and overall returns on that investment. Stay tuned on this score as we will have to make a decision soon
  • The SonCav unit in Houston is ready for demonstration, and we are all very excited to see them officially kick off the water purification unit. We are in the process of finalizing the expansion of our sales agency with our partners at SonCav and are enthusiastic about what they are working on and what we will see in the future.

The final item for discussion is my intent to rebrand Lithium Exploration Group as Black Box Enterprises.  This will take place at some point in the first or second quarter, but is much more appropriate given that lithium is only a part of what we do but everything we are trying to do involves innovation and black box concepts.

Sincerely,

Alex Walsh
CEO
Lithium Exploration Group

Lithium Exploration Group | http://www.lithiumexplorationgroup.com