LIFT Provides Update on Timetable for Combination Transaction With Winsome Resources
Li‑FT’s Winsome merger clears final legal gate; now the real test of integration and lithium market recovery begins.
The most recent release (May 11, 2026) provides an updated timetable for the combination transaction whereby Li‑FT Power will acquire all outstanding shares and options of Winsome Resources. The Supreme Court of Western Australia has approved both the Share Scheme and the Option Scheme. The schemes become legally effective on May 12, 2026, with full implementation expected around May 21, 2026. Winsome shares will be suspended from the ASX at the close of trading on May 12. This is the final court‑mandated step before the transaction closes and was widely anticipated after securityholders voted in favour on May 5, 2026.
The court approval is a procedural milestone that brings the company to the verge of completing the Winsome transaction, a deal originally announced in December 2025 as a game‑changing consolidation of the Adina lithium deposit with the adjacent Galinée property. While the news is positive, it introduces no new information – the outcome was effectively de‑risked after the shareholder vote. The market has already absorbed the transformative potential of this combination; thus, this release is an expected step‑by‑step fulfillment of conditions precedent. There is no material surprise, no additional financing requirement, and no change in the transaction terms. Consequently, it qualifies as routine but incrementally positive, confirming that integration will begin on schedule.
The capital structure implications are already reflected in the share price: the issuance of new LIFT shares to Winsome holders (representing about 35.3% of the combined company) has been known since December. The news does not alter dilution estimates. The only incremental detail is the precise implementation timeline, which is slightly ahead of some expectations (effective date early May vs. previously indicated possible late April). That minor timing benefit is marginal.
Li‑FT Power is a Canadian hard‑rock lithium explorer with three main assets: the Yellowknife Lithium Project in the Northwest Territories (flagship), the Quebec Greenfields (Pontax, Rupert, Moyenne, and the newly consolidated Adina‑Galinée), and the Cali Lithium Project on the NWT‑Yukon border.
- Yellowknife hosts an inferred 50.4 Mt @ 1.0% Li₂O across 8 of 13 known spodumene‑bearing dikes, making it one of North America’s largest spodumene resources. It is an open‑pit potential operation with existing road, rail, and port infrastructure.
- The pending Winsome acquisition adds the 61.4 Mt @ 1.14% Li₂O Adina deposit (indicated) adjacent to the Galinée property, where LIFT now controls 75% interest. The combined Adina‑Galinée package is viewed as a potential tier‑one asset in the James Bay region of Quebec.
- Cali is an early‑stage exploration project with high‑grade spodumene channel samples (up to 2.86% Li₂O) and a corridor at least 13 km long; initial drilling is planned for 2026.