LI-FT Closes $10.1 Million IN Flow-Through Share Financings

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES

OR FOR DISSEMINATION IN THE UNITED STATES

LI-FT CLOSES $10.1 MILLION IN FLOW-THROUGH SHARE FINANCINGS

March 27, 2024 – Vancouver, B.C., Li-FT Power Ltd. (“ LIFT” or the “ Company”) ( TSXV: LIFT )

(OTCQX: LIFFF) (Frankfurt: WS0) is pleased to announce it has closed the previously announced

marketed public offering (the “ Public Offering”) of 1,179,500 common shares of the Company

issued on a “flow -through” basis (each a “ Flow-Through Share”) at a price of $ 6.05 per Flow-

Through Share. The Public Offering generated aggregate gross proceeds of $7,135,975. The Flow-

Through Shares will qualify as “flow-through shares” (within the meaning of subsection 66(15) of

the Income Tax Act (Canada)).

The Public Offering was led by Canaccord Genuity Corp. on behalf of a syndicate of agents ,

including SCP Resource Finance LP. and Beacon Securities Limited (collectively, the “Agents”).

The Public Offering was completed pursuant to a prospectus supplement dated March 20, 2024

(the “Prospectus Supplement”) to the Company’s Canadian amended and restated base shelf

prospectus dated December 22, 2023 (the “Base Shelf Prospectus”). The Base Shelf Prospectus

and the Prospectus Supplement are available under the Company’s profile on SEDAR+ a t

www.sedarplus.ca.

In connection with the Public Offering, the Company paid to the Agents a cash commission of

5.0% of the gross proceeds from the Public Offering, excluding gross proceeds from the sale of

Flow-Through Shares to purchasers on a president’s list of the Company in respect of which the

Agents’ cash commission was equal to 2.0% of the gross proceeds from such sales.

Additionally, the Company completed a concurrent non-brokered private placement (the “Private

Placement”) of 689,660 common shares of the Company issued on a “flow-through” basis (each

a “ Private Placement Flow -Through Share ”) at a price of $4.35 per Private Placement Flow -

Through Share for gross proceeds of $ 3,000,021. The Private Placement Flow-Through Shares

will qualify as “flow-through shares” (within the meaning of subsection 66(15) of the Income Tax

Act (Canada)). No finder’s fees were paid in connection with the Private Placement. All of the

Private Placement Flow-Through Shares issued pursuant to the Private Placement are subject to

resale restrictions under applicable Canadian securities legislation until July 28, 2024.

The gross proceeds of the Public Offering and Private Placement 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, 2025. All Qualifying Expenditures will be renounced

in favour of the subscribers effective December 31, 2024.

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 United States Securities Act of 1933 , as

amended (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”, “inten d”, “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 use of

proceeds of the Public Offering and Private Placement and the timing of incurring the Qualifying

Expenditures and the renunciation of the Qualifying Expenditures. These forward -looking

statements and information reflect management's current beliefs and are based on assumptions

made by and information currently a vailable to the C ompany with respect to the matters

described in this press release.

Forward-looking statements involve risks and uncertainties, which are based on current

expectations as of the date of this press 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” in the Company's 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 considerable 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.