Company
CVE:ULI
Ultra Lithium Inc. is a Canadian Junior Mining exploration company with focus in lithium and rare earth metals.
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The net proceeds will be used to fund the exploration of the company's properties in Argentina, Ontario and Nevada and for general working capital purposes
The company’s CEO Dr Weiguo Lang said: “We are very excited about this agreement which will not only provide financial strength to the company but also will bring opportunities for the Northwestern Ontario Lithium exploration projects.”
The company said the net proceeds will be used to fund the exploration of the company's properties in Argentina, Ontario, and Nevada as well as for general working capital purposes
"We are very pleased to enter this strategic partnership with Yahua as one of the major producers and suppliers of battery-grade lithium products in the world,” Ultra Lithium CEO Weiguo Lang said
A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
Located in the Thunder Bay district of northern Ontario, Forgan Lake consists of nearly 256 hectares of land adjacent to Ultra Lithium’s Lucky Lake claims
The second tranche will raise up to C$5 million from the sale of 27,777,778 units at a price of C$0.18 each, increased from the previously announced $0.15 per unit
The company and the Chinese group, which has a market cap of around US$8 billion, will work together to reach a definitive deal and Zangge will be responsible for extraction technology, a feasibility study and capital expenditures required
