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M&A / Property

Azimut Completes Galinee Property Transaction with LiFT Power, James Bay Region, Quebec

By The Northwire Desk — AI Analysis Feb 18, 2026 · 03:15 LIFT · 5.95 Li-FT Power Ltd.
LIFT · Price

Executive Summary

  • Azimut Exploration Inc. completed the sale of its 50 % stake in the Galinée Property to LiFT Power Ltd., receiving 2,000,000 LiFT common shares and a $1.5 M deferred payment option.
  • The transaction valued Azimut’s consideration at approximately $13.4 million based on LiFT’s closing share price on February 17, 2026, plus the potential deferred cash or share payment.
  • Proceeds and retained royalty interests support Azimut’s strategic focus on its flagship Elmer and Wabamisk projects, with a combined equity portfolio now valued at roughly $15 million.

Key Details

  • Consideration: 2,000,000 LiFT common shares (valued at $13.4 M) plus a $1.5 M deferred payment payable in cash or LiFT shares (earlier of 18 months or technical report disclosure).
  • Royalty Retention: Azimut retained a 1.4 % NSR royalty on the Galinée Property, providing ongoing exposure to future development upside.
  • Equity Portfolio Post‑Transaction: Approximately $15 M in equity interests across various companies.
  • Additional Royalty Interests:
  • 2 % NSR on JBN-57 claim block (PMET Resources’ Shaakichiuwaanaan project).
  • 1 % NSR on Pikwa Property (also part of PMET Resources’ project).
  • 1.4 % NSR on Galinée Property (adjacent to Winsome Resources’ Adina project).
  • Strategic Focus: Sale aligns with Azimut’s plan to concentrate resources on flagship properties: Elmer (Patwon gold deposit) and Wabamisk (Fortin and Rosa zones).
  • Drilling Programs: Announces ≥17,000 m of drilling slated for early 2026 across Elmer and Wabamisk, including near‑completion work in the Fortin Zone, follow‑up drilling on the Rosa Zone, and a March program at Elmer.
  • LiFT Power Ltd.: Canadian lithium explorer with flagship Yellowknife Lithium Project; holds three early‑stage Quebec lithium properties and the Cali Project in the Northwest Territories.

Notable Quotes

“These transactions support Azimut’s strategy to focus on its flagship properties, Elmer and Wabamisk,” – Jean‑Marc Lulin, President & CEO, Azimut Exploration Inc.

Read the original news release →

More from Li-FT Power Ltd.

Oct 26, 2026 · 03:05

Li-FT Power reports solid resource-grade infill drilling at its project, although five of 45 holes failed to reverse an 84% drawdown.

Drill Results Oct 05, 2026 · 03:05

Li-FT Power receives a $12m fee after meeting the Renard option condition by funding annual site upkeep costs.

M&A / Property Aug 12, 2026 · 09:07

Li-FT Power raises C$23m to fund one-year care and maintenance of the Renard option.

Financings Aug 04, 2026 · 16:41

Li-FT Power’s discounted $20M equity raise funds care-and-maintenance operations at its Renard project.

Financings Jul 17, 2026 · 03:05

Li-FT Power begins drilling at Adina-Galinee while facing ongoing dilution issues and persistent cash burn concerns.

Drill Results Jul 14, 2026 · 03:05

Li-FT Power advances its lithium processing pathway after regulatory clearance of the Renard option agreement.

M&A / Property