Nov 10 (Reuters) - Ultra Lithium Inc ULI.V -
* Ultra Lithium announces $1,200,000 private placement
* Ultra Lithium Inc - intends to complete a non-brokered private placement of up to 4.8 million units of company at a price of $0.25 per unit
* Ultra Lithium Inc - proceeds from private placement will be used to fund exploration of company's Argentine properties