Australia's Orocobre invests in Advantage Lithium Corp placement

(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.

(Reporting by Shreya Mariam Job in Bengaluru; editing by Richard Pullin)