Sept 22 (Reuters) - Ultra Lithium Inc ULI.V :
* Ultra Lithium signs a binding LOI to acquire lithium salar project in Argentina and announces $300,000 private placement
* Co has signed a binding letter of intent to acquire an 80 % interest in a lithium salar property
* Co intends to complete a non-brokered private placement of up to 2 million units of co at a price of $0.15 per unit
* Proceeds from private placement will be used to fund exploration of co's South Big Smoky Valley property Source text for Eikon: ID:nCCN7KZVFT Further company coverage: ULI.V