Mineral resources company Orocobre
(ASX:ORE) has completed selling a suite of exploration assets to Advantage Lithium Corp.
The company says the completion of the sale follows the closing of a CA$20 million capital raising via subscription receipts undertaken by Advantage Lithium.
Orocobre will now hold 35% of the issued shares in Advantage Lithium, and 2.55 million warrants exercisable at just 1 Canadian Dollar.
Under this deal, Orocobre also retained a 42.5% interest and 1% gross royalty in the Cauchari Project (a lithium-potash resource in Argentina), with drilling to start in the coming quarter.
This morning, shares in Orocobre are tracking 1.42% higher at $2.86.
