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

Li-FT Power firms up Galinee interest acquisition

LIFT consolidates the Galinée-Adina district to unlock a Tier-1 lithium powerhouse

By The Northwire Desk — AI Analysis Feb 24, 2026 · 10:07 LIFT · 6.35 Li-FT Power Ltd.
Executive Summary

The most recent news (February 24, 2026) confirms that Li-FT Power has entered into a definitive purchase agreement with SOQUEM Inc. to acquire an additional 25% interest in the Galinée property in Quebec. This follows the February 18 announcement of the closing of a 50% interest acquisition from Azimut Exploration. Upon closing this second transaction, Li-FT will hold a 75% aggregate interest in Galinée and act as the project operator. The consideration for this 25% stake is 1,000,000 common shares of Li-FT.

Material Impact

This news is Material - Positive as it represents the final step in consolidating the Galinée property, which is a prerequisite for the "Game Changer" merger with Winsome Resources. - Strategic Consolidation: By moving to 75% ownership, Li-FT secures operational control of a property that sits adjacent to Winsome’s Adina project. The combined Adina-Galinée land package is intended to unlock the full scale of a Tier-1 lithium deposit. - Merger Synergy: The consolidation satisfies a key condition of the Scheme of Arrangement to combine with Winsome Resources, which aims to create one of the largest hard-rock lithium developers in North America. - Non-Cash Consideration: Using 1 million shares preserves cash for the upcoming 2026 drill programs, though it does result in minor dilution (approx. 2%).

LIFT · Price
Company Overview

Li-FT Power is focused on lithium pegmatite projects in Canada. - Flagship Project (Yellowknife): Holds an Inferred Mineral Resource of 50.4 million tonnes at 1.00% Li2O. It is ranked as one of the largest spodumene projects in the Americas. - Quebec Assets: The Galinée property is now a co-flagship due to its proximity to Winsome’s Adina deposit (61.4Mt @ 1.14% Li2O Indicated).

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