For those interested, I've been in direct communications with L.A. Lewis himself about this song. He says that he is currently working with a representative (whom he did name, and who does in fact exist) from Warner Chappell to get clearance on the song, and he then requested my help to expedite the process since he is in Jamaica and it is difficult
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He insisted that the song had no connection to Jason Malachi, but added that he has no knowledge of that song ("Let Me Let Go"). He said the song came from Michael's "Unreleased Album" and is titled "Let Me Go" and went on to describe the "remix" that he wishes to release and the storyline, which is in fact exactly that of Jason Malachi's "Let Me Let Go." L.A. Lewis says that he played the song at numerous clubs and received a very positive reception and everyone wondered when it would be released, and he's legitimately trying to get this one released.
So, putting two-and-two together, there was a widespread "Michael Jackson Pre-Release Album" that began circulating last year. It contained a bunch of outtakes and Jason Malachi songs while pretending to be the new Michael Jackson album. One of those tracks was indeed Malachi's "Let Me Let Go" and I'm quite certain this is where L.A. Lewis got it from, and what he is using to create this remix.
After that, it is still very safe to say that you will not see this song on shelves anytime soon, nor will it contain the voice of Michael Jackson. He did say he'll let me listen to the song so we'll see for sure soon enough.