Aug 15 (Reuters) - Australian miner Orocobre Ltd on Thursday said it has agreed to invest C$1.5 million ($1.1 million) in Advantage Lithium Corp 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.
$1 = 1.3308 Canadian dollars Reporting by Shreya Mariam Job in Bengaluru; editing by Richard Pullin