LIFT Completes Combination With Winsome Resources

The most recent news release (2026‑05‑21) announces that Li‑FT Power Ltd. has completed its all‑share combination with Winsome Resources Limited. The transaction brings the tier‑one Adina lithium project in Quebec into LIFT’s portfolio, alongside the Galinée property (now 75% owned). Winsome shareholders received 0.107 of a new LIFT common share (or CDI) for each Winsome ordinary share. In total, LIFT issued approximately 27.14 million common shares (25.88 million as CDIs and 1.26 million as common shares) and 722,092 shares in respect of Winsome options. Additionally, 6,085,300 subscription receipts from the January 2026 financing converted into LIFT common shares on completion. The news also confirms LIFT’s admission to the Australian Securities Exchange (ASX), with CDIs expected to trade under the ticker “LFT” from May 26, 2026. CEO Francis MacDonald describes the closing as a “transformative milestone” and highlights the creation of a leading platform of high‑value spodumene assets in Canada.

The completion of the Winsome combination is genuinely material and meets the definition of a “Game Changer”.

• De‑risked strategic consolidation: The market knew about the deal since December 2025, but final closing removes execution uncertainty. The transaction instantly consolidates the Adina resource (61.4 Mt at 1.14% Li₂O indicated) with LIFT’s 75% interest in the adjacent Galinée property, creating a district‑scale lithium camp with potential for a large open‑pit operation.
• New exchange listing: Admission to the ASX provides access to a deep pool of lithium‑focused institutional capital and improves trading liquidity. The dual TSXV‑ASX structure is rare among Canadian juniors and can support re‑rating.
• Capital structure transformation: The issuance of roughly 33.9 million new shares (Winsome shares + options + converted subscription receipts) increases the total share count to approximately 86.7 million, pushing pro‑forma market capitalization to around $519 million at recent prices – a step change in size and investability.
• Cash runway from financing: The concurrent $48 million raise (closed January 2026) funds exploration and development work at Adina‑Galinée and the Yellowknife Lithium Project, reducing near‑term dilution risk.

The event justifies the “Material – Game Changer” label because it finalises a takeover that dramatically alters the company’s asset base, market cap, and capital markets profile. The earlier drill results from Yellowknife (2026‑05‑13) were routine positives, but the Winsome closing is the defining moment of the period.

Li‑FT Power is a Canadian hard‑rock lithium explorer and developer, currently focusing on three district‑scale projects:

1. Yellowknife Lithium Project (NWT) – The flagship. It holds a consolidated inferred mineral resource of 50.4 million tonnes at 1.00% Li₂O (1.25 Mt LCE), making it one of North America’s largest undeveloped spodumene resources. The resource is hosted in multiple pegmatite dykes along an extensive trend. The company is advancing environmental baseline studies, resource expansion drilling, and a lithium carbonate converter scoping study, with a Preliminary Economic Assessment targeted for 2027.

2. Adina‑Galinée Lithium District (Québec) – Acquired through the combination with Winsome Resources. Adina hosts an indicated resource of 61.4 Mt at 1.14% Li₂O, and the company now owns a 75% stake in the adjacent Galinée property, which has returned drill intercepts such as 158 m at 1.62% Li₂O. The consolidation of the two properties under a single operator creates the potential for a large‑scale open‑pit development in the James Bay region.

3. Cali Lithium Project (NWT) – An early‑stage spodumene pegmatite system with high‑grade surface samples (up to 3.04% Li₂O) and a 13 km mineralized corridor. Initial drilling is planned for 2026.

4. Quebec Greenfields (Pontax, Rupert, Moyenne) – A large land package with till anomalies and drill targets; the Nottaway option adds further exploration potential.

The company trades on the TSX Venture Exchange under “LIFT”, the OTCQX under “LIFFF”, and now on the ASX under “LFT”.