BRIEF-Ultra Lithium signs binding LOI to acquire lithium salar project in Argentina

Thu Sep 22, 2016 9:10am EDT
 
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Sept 22 (Reuters) - Ultra Lithium Inc :

* Ultra Lithium signs a binding LOI to acquire lithium salar project in Argentina and announces $300,000 private placement

* Co has signed a binding letter of intent to acquire an 80 % interest in a lithium salar property

* Co intends to complete a non-brokered private placement of up to 2 million units of co at a price of $0.15 per unit

* Proceeds from private placement will be used to fund exploration of co's South Big Smoky Valley property Source text for Eikon: Further company coverage: