Li-FT Power Ltd. (TSXV:LIFT) signed a non-binding letter of intent to acquire 75% stake in Galinée property from SOQUEM Inc. and Azimut Exploration Inc. (TSXV:AZM) for CAD 16.6 million on December 14, 2025. Li-FT Power Ltd. entered into a definitive project acquisition agreement to acquire 50% stake in Galinée property from Azimut Exploration Inc. on December 23, 2025. Li-FT Power Ltd. entered into a definitive purchase agreement to acquire 25% stake in Galinée property from SOQUEM Inc. As part of consideration, an upfront consideration of 2 million common equity will be issued of Li-FT Power Ltd and a 1.4% net smelter return royalty and a deferred cash consideration of CAD1.5 million will be paid against 50% stake of Azimut Exploration Inc, and an upfront consideration of 1 million common equity will be issued of Li-FT Power Ltd against 25% stake in SOQUEM Inc. The remaining interest in the Galinée Property currently being held by SOQUEM. In a related transaction, Li-FT Power Ltd. signed a binding scheme implementation deed to acquire Winsome Resources Limited (ASX:WR1) for approximately AUD 140 million and is subject to completion of the Galinée Transaction.

The Galinée Transaction have the support of Li-FT's strategic shareholder, Avenir Minerals Limited, which has extensive permitting, operating, and construction expertise in Québec. Completion of the Galinée Transaction remains subject to execution of such definitive documentation, receipt of TSX Venture Exchange?s approval of the issuance, and listing of the Closing Date Consideration Shares and various other closing conditions that are considered customary. As of February 18, 2026 , Li-FT power has completed the acquisition of 50% interest in the Galinée property from Azimut Exploration. The SOQUEM Transaction is subject to the receipt of TSX Venture Exchange approval and the satisfaction of other customary closing conditions. The transaction is expected to complete on or before February 28, 2026.

Alan Hutchiso of Osler, Hoskin & Harcourt LLP acted as legal advisor for Li-FT Power Ltd.

Li-FT Power Ltd. (TSXV:LIFT) completed the acquisition of 75% stake in Galinée property from SOQUEM Inc. and Azimut Exploration Inc. (TSXV:AZM) on March 9, 2026.