Northwire Canada EditionWednesday, November 11, 2026
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M&A / Property

LIFT Signs Definitive Purchase Agreement with SOQUEM for a 25% Interest in the Galinee Property, Quebec

By The Northwire Desk — AI Analysis Feb 24, 2026 · 03:05 LIFT · 6.35 Li-FT Power Ltd.
LIFT · Price

Executive Summary

  • Li‑FT Power Ltd. entered into a definitive purchase agreement with SOQUEM Inc. to acquire an additional 25% interest in the Galinée Property, raising its total stake to 75%.
  • The consideration for the acquisition is 1,000,000 newly issued common shares of Li‑FT, subject to a four‑month‑plus statutory hold period.
  • Transaction completion is conditional on TSX Venture Exchange approval and customary closing conditions.

Key Details

  • Transaction Parties: Li‑FT Power Ltd. (buyer/operator) and SOQUEM Inc. (seller).
  • Asset Acquired: Additional 25% of the exclusive exploration rights to the Galinée Property in Quebec, Canada.
  • Resulting Ownership: Li‑FT will hold 75% of the Galinée Property; SOQUEM retains the remaining 25%.
  • Consideration: 1,000,000 common shares of Li‑FT issued to SOQUEM.
  • Share Hold Period: All shares issued are subject to a statutory hold period of four months and one day under Canadian securities law.
  • Closing Conditions: Subject to receipt of TSX Venture Exchange approval and satisfaction of other customary closing conditions.
  • Operator Status: Li‑FT remains the operator of the Galinée Property under the joint‑venture arrangement with SOQUEM.

Notable Quotes

(No direct quotes were provided in the release.)

Read the original news release →

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