(Reuters) - Australian miner Orocobre Ltd ORE.AX on Thursday said it has agreed to invest C$1.5 million ($1.1 million) in Advantage Lithium Corp AAL.V through a private placement by the Canadian firm.
Orocobre will hold a 34.7% stake in Advantage on completion of the placement, which aims to raise C$1.7 million in total.
Advantage will use the funds for development and exploration activities at its lithium projects in Argentina, Orocobre said in a statement.
The two companies operate the Cauchari joint venture project in Argentina.
Reporting by Shreya Mariam Job in Bengaluru; editing by Richard Pullin
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