LI-FT Announces Sizing of Overnight Marketed Public Offering
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES
LI-FT ANNOUNCES SIZING OF OVERNIGHT MARKETED PUBLIC OFFERING
November 10, 2023 – Vancouver, B.C., Li-FT Power Ltd. (“LIFT” or the “Company”) (TSXV: LIFT)
(OTCQX: LIFFF) (Frankfurt: WS0) is pleased to announce the sizing of its previously announced
overnight marketed public offering (the “Offering”). Pursuant to the Offering, the Company will
issue 1,250,000 flow-through common shares of the Company (the “Flow-Through Shares”) that
will qualify as “flow-through shares” (within the meaning of subsection 66(15) of the Income Tax
Act (Canada)) at a price of $8.65 per Flow -Through Share (the “Offering Price”) for aggregate
gross proceeds of $10,812,500.
The Offering is being conducted through a syndicate of agents led by Canaccord Genuity Corp.
(collectively, the “Agents”).
The Company has granted the Agents an option (the “Agents’ Option”) to sell up to such number
of additional Flow-Through Shares as is equal to 15% of the number of Flow-Through Shares sold
pursuant to the Offering, at the Offering Price, which Agents’ Option is exercisable, in whole or in
part, at the sole discretion of the Agents at any time up to 24 hours prio r to the Closing Date (as
defined herein).
The Offering will be conducted pursuant to the Company’s Canadian base shelf prospectus dated
September 21, 2023 (the “Base Shelf Prospectus”). A prospectus supplement (the “Prospectus
Supplement”) relating to the Offering will be filed in each of the prov inces of Canada, except the
Province of Quebec, and may be offered in the United States on a private placement basis
pursuant to an exemption from the registration requirements of the United States Securities Act
of 1933, as amended (the "1933 Act"), and a pplicable state securities laws, and certain other
jurisdictions outside of Canada and the United States. The Base Shelf Prospectus is available and
the Prospectus Supplement will be available under the Company’s profile on SEDAR+ at
www.sedar+.com.
The gross proceeds of the Offering will be used by the Company to incur eligible “Canadian
exploration expenses” that will qualify as “flow- through critical mineral mining expenditures” as
such terms are defined in the Income Tax Act (Canada) (the “Qualifying Expenditures”) related to
the Company’s Yellowknife Lithium Project located in the Northwest Territories, Canada on or
before December 31, 2024. All Qualifying Expenditures will be renounced in favour of the
subscribers effective December 31, 2023.
It is anticipated that closing of the Offering will occur on or about November 17, 2023 (the
“Closing Date”), or such other date or dates as the Company and the Agents may agree. The
Offering is subject to the satisfaction of certain conditions, including receipt of all applicable
regulatory approvals including the approval of the TSX Venture Exchange (the “TSXV”).
This press release does not constitute an offer to sell or a solicitation of an offer to buy nor shall
there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful, including any of the securities in the United States of America. The securities
have not been and will not be registered under the 1933 Act or any state securities laws and may
not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as
defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable
state securities laws, or an exemption from such registration requirements is available.
About LIFT
LIFT is a mineral exploration company engaged in the acquisition, exploration, and development
of lithium pegmatite projects located in Canada. The Company’s flagship project is the
Yellowknife Lithium Project located in Northwest Territories, Canada. LIFT also holds three early-
stage exploration properties in Quebec, Canada with excellent potential for the discovery of buried
lithium pegmatites, as well as the Cali Project in Northwest Territories within the Little Nahanni
Pegmatite Group.
For further information, please contact:
Francis MacDonald Daniel Gordon
Chief Executive Officer Investor Relations
Tel: + 1.604.609.6185 Tel: +1.604.609.6185
Email: [email protected] Email: [email protected]
Website: www.li-ft.com
Cautionary Statement Regarding Forward-Looking Information
Certain statements included in this press release constitute forward-looking information or
statements (collectively, “forward -looking statements”), including those identified by the
expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “may”, “should” and similar
expressions to the extent they relate to the Company or its management. The forward -looking
statements are not historical facts but reflect current expectations regarding future results or
events. This press release contains forward looking statements relating to the closing of the
Offering, successful marketing of the Offering, use of proceeds of the Offering, the timing of
incurring the Qualifying Expenditures and the renunciation of the Qualifying Expenditures as well as
the approval of the TSXV. These forward-looking statements and information reflect management's
current beliefs and are based on assumptions made by and information currently available to the
company with respect to the matter described in this new release.
Forward-looking statements involve risks and uncertainties, which are based on current
expectations as of the date of this release and subject to known and unknown risks and
uncertainties that could cause actual results to differ materially from those expressed or implied by
such statements. Additional information about these assumptions and risks and uncertainties is
contained under "Risk Factors and Uncertainties" in the Company's latest annual information form
filed on March 30, 2023, which is available under the Company's SEDAR+ profile at
www.sedarplus.ca, and in other filings that the Company has made and may make with applicable
securities authorities in the future. Forward- looking statements contained herein are made only as
to the date of this press release and we undertake no obligation to update or revise any forward -
looking statements whether as a result of new information, future events or otherwise, except as
required by law. We caution investors not to place considerabl e reliance on the forward-looking
statements contained in this press release.
Neither the TSX Venture Exchange (the “TSXV”) nor its Regulation Services Provider (as that term is
defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this
release.