Orocobre (ASX:ORE) complete acquisition of Advantage Lithium

Company News

by Rachael Jones

Orocobre (ASX:ORE) has acquired 100 per cent of the issued and outstanding shares of Advantage Lithium Corp.

This follows the approval by the Supreme Court of British Columbia a statutory plan of arrangement under the Business Corporations Act has been completed.

Under the terms of the Arrangement, Advantage shareholders have now received 0.142 shares of Orocobre for each Advantage share held.

Orocobre has now issued approximately 15.1 million shares, increasing its total issued shares by 5.8 per cent.

Orocobre has utilised its 15 per cent placement capacity to complete the Arrangement without the need for Orocobre shareholder approval.

Shares in Orocobre (ASX:ORE) are trading 2.28 per cent higher at $2.24.