Orocobre snaps up 33.5% of fellow Argentinian lithium company

Company News

by Jessica Amir

Lithium carbonate producer Orocobre (ASX:ORE) has backed a lithium explorer and developer, headquartered in Vancouver by participating in their capital raise.

Orocobre is supporting Advantage Lithium’s private placement, by investing C$5 million of its C$12 million raise.

The funds will be used by Advantage for general capital and to fund Advantage’s exploration in Argentina.

After it’s completed, Orocobre will own 33.5 per cent of the fellow Argentinian lithium company.

Shares in Orocobre (ASX:ORE) are trading 1.2 per cent higher at $5.04.

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 with a passion for equities and funds management. As Head of News, she has been a broadcast journalist for over seven years, specialising in finance. She has been a journalist with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for regional Channel 7 and 9. She also previously worked as a financial planner and real estate agent.