Lithium Exploration Group Takes Option on Key Lithium Patent Portfolio

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In a major expansion into rechargeable, replacement lithium batteries for consumer electronics, Lithium Exploration Group, Inc. has secured an option to purchase a critical lithium patent portfolio.

Lithium Exploration Group, Inc. (OTCMRKTS: LEXG), a developer of assets and technologies in oil, gas and waste treatment, has begun a major diversification into rechargeable Lithium batteries for cameras and consumer electronics by purchasing an option to acquire an international patent portfolio held by Enbloc LLC of South Korea. This option gives Lithium Exploration Group the exclusive right to acquire the patent portfolio within the next 90 days, along with a complete set of drawings and prototypes.

The key patent in this international portfolio is U.S. Patent No. 9,444,087 for an “Enbloc-Clip-Type Lithium Secondary Battery Pack Capable of Fitting into Two-Cell or Four-Cell Battery Compartment of Electronic Device.” The portfolio also includes Chinese, European, German, Indian, Japanese, Korean and Swiss patents, as well as a PCT Patent Application. With the PCT Application, the assignee can apply for additional patents in any of the 150 nations that are parties to the PCT (Patent Cooperation Treaty). In addition to purchasing an option on this portfolio, Lithium Exploration Group has an option with the inventor, Jeongbae Jeong, to have him join Lithium Exploration Group to assist in the commercialization of the portfolio into a product line.

According to Alex Walsh, CEO of Lithium Exploration Group, Inc., “It is the company’s long-term goal to commercialize lithium and lithium-based products at various stages in the continuum from its mining from lithium brine to its delivery to consumers in lithium-based products. The acquisition and commercialization of the Enbloc portfolio is a key step in that endeavor.”

Alec Schibanoff, Vice President of IPOfferings LLC, the patent broker that represents this property, observes that “This patent portfolio creates a whole new product category in the consumer electronics battery segment – batteries that both have a longer life and are re-chargeable. The technology has applications in cameras, smart phones, tablets and the entire range of consumer electronics products.”

Inquiries about this transaction should be directed to Alec Schibanoff at IPOfferings at alec(at)IPOfferings(dot)com.

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