LIFT Announces Marketed Public Offering
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES
LIFT ANNOUNCES MARKETED PUBLIC OFFERING
March 18, 2024 – Vancouver, B.C., Li-FT Power Ltd. (“LIFT” or the “Company”) (TSXV: LIFT)
(OTCQX: LIFFF) (Frankfurt: WS0) is pleased to announce that it has commenced a marketed
best efforts public offering (the “ Public Offering”) of up to 1,179,500 common shares of the
Company that will qualify as “flow -through shares” (within the meaning of subsection 66(15) of
the Income Tax Act (Canada)) (the “Flow-Through Shares”) at a price of $6.05 per Flow-Through
Share (the “Offering Price”) for aggregate gross proceeds of up to $7,135,975.
The Public Offering is being conducted through a syndicate of agents led by Canaccord Genuity
Corp. (collectively, the “Agents”).
The Company is also undertaking a concurrent non-brokered private placement of up to 689,660
traditional flow-through shares (the “Non-Brokered Flow-Through Shares”) at a price of $4.35
per Non-Brokered Flow -Through Share for gross proceeds of up to $3,000,021 (the " Non-
Brokered Offering"). The Non-Brokered Flow Through Shares purchased pursuant to the Private
Placement will be issued on a prospectus exempt basis and subject to a statutory hold period.
The Public Offering will be conducted pursuant to the Company’s Canadian base shelf prospectus
dated December 22, 2023 (the “ Base Shelf Prospectus”) . A prospectus supplement (the
“Prospectus Supplement”) relating to the Public Offering will be filed in each of the provinces
and territories 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 applicable 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.sedarplus.ca.
The gross proceeds of the Public 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, 2025. All Qualifying Expenditures will be renounced in favour of the
subscribers effective December 31, 2024. The gross proceeds of the Non-Brokered Offering will
be used by the Company to incur eligible “Canadian exploration expenses” as such term is defined
in the Income Tax Act (Canada) related to the Company’s Yellowknife Lithium Project located in
the Northwest Territories, Canada on or before December 31, 2025.
It is anticipated that closing of the Public Offering and the Non-Brokered Offering will occur on or
about March 27, 2024 (the “Closing Date”), or such other date or dates as the Company and the
Agents may agree. The Public Offering and the Non- Brokered Offering are subject to the
satisfaction of certain conditions, including receipt of all applicable regulatory approvals including
the approval of the TSX Venture Exchange.
This news 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
Chief Executive Officer
Tel: + 1.604.609.6185
Email: [email protected]
Website: www.li-ft.com
Daniel Gordon
Investor Relations
Tel: +1.604.609.6185
Email: [email protected]
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
Public Offering and the Non-Brokered Offering, successful marketing of the Public Offering, use
of proceeds of the Public Offering and the Non -Brokered 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 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.