LITHIUM EXPLORATION GROUP, INC. (OTCMKTS:LEXG) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement

On October 12, 2017 we entered into an option purchase agreement with Enbloc Cell LLC, a South Korea based manufacturer of lithium ion batteries. to the agreement, we paid $25,000 to Enbloc Cell to obtain the option, for a period of 120 days, to acquire Enbloc Cell’s worldwide patent rights for its Enbloc clip-type lithium secondary battery pack, which are capable of fitting into two-cell or four cell battery compartments of electronic devices. In order to exercise the option we must pay to Enbloc Cell $100,000 prior to the expiration of the option period.

Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.

On November 20, 2017, our Board of Directors approved a reverse stock split of our issued and authorized shares of common and preferred stock on the basis of 200 old shares for one (1) new share. When completed the reverse stock split will result in the decrease of our authorized capital from 10,000,000,000 shares of common stock and 100,000,000 shares of preferred stock to 50,000,000 shares of common stock and 5,000,000 shares of preferred stock. Correspondingly, our issued and outstanding capital shall decrease from 3,585,818,688 shares of common stock and 70,000,000 shares of Class C Preferred Stock to 17,929,094 shares of common stock and 350,000 shares of Class C Preferred Stock, all with a par value of $0.001. No fractional shares will be issued in connection with the reverse stock split; fractional shares will be rounded up.

Completion of the reverse stock split is subject to the prior approval of the Financial Industry Regulatory Authority (“FINRA”). We will announce the completion of FINRA's review and the effectiveness of the amendment on the market by filing a Current Report on Form 8-K.

Item 9.01 Financial Statements and Exhibits

Lithium Exploration Group, Inc. Exhibit
EX-10.1 2 exhibit10-1.htm EXHIBIT 10.1 Lithium Exploration Group….
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About LITHIUM EXPLORATION GROUP, INC. (OTCMKTS:LEXG)

Lithium Exploration Group, Inc. is an exploration-stage company. The Company 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 (single base unit) 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 (flow rates will vary depending on the salinity level of the input stream). The Ultrasonic Generator also has the ability to upgrade crude oil. A single Ultrasonic Generator can upgrade crude oil into petroleum products. The Ultrasonic Generator’s by-products are clean water (or steam) and minerals. As of June 30, 2016, it did not generate any revenue.