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PHOENIX, July 17, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE – Lithium Exploration Group (LEXG) announces that preparation and permitting has been initiated at its oil project in SW Louisiana. The actual closing has been extended while this process takes place, but it is expected that the pad being prepared will host the drilling of the first three target locations. The locations have been prepared by a joint team of internal and external geophysicists. The team has identified these locations in a specific fault block, using the processed seismic data collected last year in comparison with historical production from the field, and determined that these locations will be the most productive. Actual results could differ from those projected in any forward-looking statements due to numerous factors.
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. 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.
Lithium Exploration Group (LEXGD) announced today that it has published an interim report on the seismic processing for the White Top project to its website (link below). The initial scrubbing of the data points known as traces or reflections is almost complete and already shows clear faulting and "bright spots". The internal and external teams are very excited about the quality of the data and feel that the final product will not only derisk the development drilling but will make the production from each well drilled much more efficient because of the ability to see traps and faults more clearly than ever before. Currently the company is focused testing the Sonic Cavitation Ltd. technology and the acquisition of oil and gas related assets in the US and Canada.
Alternet Systems, Inc. (ALYI) today released a shareholder presentation to review the recently filed financial report for the 3rd Quarter of 2017 highlighting the company's transition to a new lithium energy integration and development business plan. The report is available on the Company's website and with the entire narrative included below. On July 21, 2017, the Company acquired Lithium IP Holdings in a transaction that included a management and business direction change.
Lithium Exploration Group Inc. (LEXG) announced today that it has entered into a purchase agreement to acquire a series of lithium patents for the retail consumer. The core US patent being acquired is number 9,444,087, which provides two- and four-pack AA size lithium batteries with a charging pack that can replace many day-to-day applications of traditional alkaline battery uses. "This portfolio represents the classic story of an inventor who got his technology close to the finish line and ran out of funds. We have done a lot of due diligence on the patents and feel that, with the right financial partner in the US, his batteries could be selling online in less than six months," commented CEO Alex Walsh. "As one of the longest standing names in the lithium, petro-lithium, and lithium technology industry, we will use all of our connections and capabilities to get this outstanding invention to market next year.