Lift Closes Transaction With Azimut for 50% Interest in Galinee Property

Executive Summary

• Li‑FT Power Ltd. closed the acquisition of a 50 % interest in the Galinée lithium property from Azimut Exploration Inc.
• Consideration consisted of issuance of 2,000,000 LIFT common shares and a 1.4 % NSR royalty on the property; a deferred cash consideration of $1.5 M is payable upon completion of an economic study or within 18 months, whichever occurs first.
• The acquisition moves Li‑FT closer to fulfilling its offer conditions to acquire Winsome Resources and to combine the Galinée and Adina properties, potentially unlocking greater value from the Adina lithium deposit.

Key Details

• Acquired Interest: 50 % of the Galinée Property (Québec) previously owned by Azimut Exploration Inc.; the remaining interest is held by SOQUEM Inc.
• Consideration Paid to Azimut:
• Issuance of 2,000,000 LIFT common shares (subject to a statutory hold period of four months and one day).
• Grant of a 1.4 % net smelter return (NSR) royalty on the Galinée Property, shared proportionally with SOQUEM based on ownership percentages.
• Deferred Consideration: $1,500,000 payable in cash or, at Azimut’s election under the definitive agreement, in LIFT common shares. Payment triggers:
• Completion of an economic study for the Galinée Property, or
• 18 months after closing, whichever occurs first.
• Strategic Rationale: The acquisition is a step toward satisfying Li‑FT’s offer conditions to acquire Winsome Resources Ltd., enabling the combination of the adjacent Adina and Galinée lithium projects to enhance scale and value.
• Executive Comment: Francis MacDonald, President & CEO, stated that closing the 50 % acquisition brings Li‑FT “one step closer to satisfying the conditions outlined in our offer to acquire Winsome Resources” and will help unlock the true value of the Adina deposit through combined development.

Notable Quotes

• “With the closing of the 50% acquisition of the Galinée property, LIFT is one step closer to satisfying the conditions outlined in our offer to acquire Winsome Resources. By combining the Adina and Galinée properties the true value and scale of the Adina lithium deposit can be unlocked.” – Francis MacDonald, President & CEO

Materiality Assessment: Material – Positive (the transaction materially expands Li‑FT’s asset base and advances a strategic acquisition plan).