MillennialLithium Corp. said July 7 that it closed the previously announcedacquisition of theLincoln lithium property in Nevada.

Under the terms, the company issued 1,500,000 common shares.It will now proceed with the first phase of exploration on the property, which willinclude prospecting, grab sampling and hand auger drill holes to test forlithium and other commercial elements in the upper layers of the playa.

Millennial Lithium also raised about C$1.2 million from anonbrokered private placement comprising 8,000,000 units at a price of 15 centsper unit.

Proceeds will be used for general working capital and thedevelopment of its Lincoln property.