Intra Energy Corporation (ASX:IEC) has acquired 100% ownership of the Llama Lithium Project in Quebec, Canada, from DG Resource Management.
The base and precious metals focused company said the acquisition includes 123 mineral claims spanning 63?, positioning it in the heart of the James Bay region, known for its hard rock lithium exploration.
It also plans to immediately commence exploration at the project following the acquisition and will be raising $3.6M via the issue of 720 million shares at $0.005 per share.
Intra Energy Corporation's share price hit $0.0090 at 10:35am AEST.