LIFT Closes C$23 Million Public Offering
Li-FT Power raises C$23m to fund one-year care and maintenance of the Renard option.
Li-FT Power Ltd. has completed a bought deal public offering of 7,935,000 common shares, including the full exercise of the 15% over-allotment option. Shares were sold at C$2.90 per share, generating gross proceeds of C$23,011,500. Net proceeds are designated to fund the first year of care and maintenance costs for the Renard option period and general working capital. Canaccord Genuity Corp. acted as lead underwriter and sole bookrunner. An executive participated in the offering, constituting a related party transaction exempt from formal valuation and minority shareholder approval requirements under Multilateral Instrument 61-101.
Li-FT Power Ltd. (LIFT) has completed the closing of a previously announced financing, initially reported on August 4 and 5, 2026. The offering price of C$2.90 per share represents a discount to the stock’s trading range of $3.30–$3.50 observed in early August 2026, resulting in immediate dilution for existing shareholders.
The capital raise is intended to address the cash burn associated with the Renard diamond mine option, which requires C$18 million annually for care and maintenance. The transaction confirms the execution of a planned capital raise to maintain the option period, with no new strategic milestones, operational breakthroughs, or valuation catalysts introduced.
Li-FT Power Ltd. is a Canadian hard-rock lithium developer with assets in Quebec and the Northwest Territories. Its flagship Adina-Galinee Lithium Project in Quebec hosts a Tier 1 resource of 60.5 million tonnes at 1.14% Li2O (Indicated) and 15.9 million tonnes at 1.17% Li2O (Inferred).
The company also holds a strategic asset at the Renard diamond mine site, maintaining a binding call option to acquire the 2.2 Mtpa processing facility and infrastructure for $1.00 within a two-year period. Repurposing Renard for lithium processing could reduce initial capital expenditure by over $600 million CAD and expedite production timelines.
Other assets include the Yellowknife Lithium Project in the NWT, which contains 50.4 million tonnes at 1.00% Li2O (Inferred), as well as early-stage properties in Quebec including Galinée, Nottaway, and Cali.