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 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.