Li-FT Power Ltd. announced further to its December 15, 2025 press release regarding, among other things, LIFT entering into a non-binding letter of intent with SOQUEM Inc. ("SOQUEM") and Azimut Exploration Inc., that it has entered into a definitive purchase agreement dated February 23, 2026 with SOQUEM to acquire an additional 25% interest in the exclusive exploration rights commonly known as the Galinee property ("Galinee Property"), which would bring its total aggregate interest in the Galinee Property to a 75% interest with the remainder of the interest in the Galinee property to remain held by SOQUEM (the "SOQUEM Transaction"), subject to the satisfaction of various conditions. LIFT is the operator of the project on the Galinee Property under joint venture with SOQUEM. Under the terms of the purchase agreement with SOQUEM (the 'SOQUEM Agreement"), consideration for SOQUEM's 25% interest in the GalineeProperty will consist of 1,000,000 common shares in the capital of the Company.
All common shares issued pursuant to the SOQUEM Agreement will be subject to a statutory hold period of four months and one day in accordance with applicable Canadian securities laws. The SOQUEM Transaction is subject to the receipt of TSX Venture Exchange approval and the satisfaction of other customary closing conditions.
