LIFT Closes Sale of 313 Claims in Quebec to Power Metallic Mines for $700,000 in Cash and 6,000,000 Shares
LIFT Closes Sale of 313 Claims in Quebec to
Power Metallic Mines for $700,000 in Cash and
6,000,000 Shares
Vancouver, British Columbia--(Newsfile Corp. - July 14, 2025) - Li-FT Power Ltd. (
TSXV: LIFT
)
(
OTCQX: LIFFF
) (
FSE:
WS0
) ("
LIFT
" or the "
Company
")is pleased to announce that it has closed the
previously announced definitive agreement with Power Metallic Mines Inc. (TSXV: PNPN) for the sale of
a 100% interest in 313 claims from the Rupert Project, Quebec.
In consideration for the 313 claims, LIFT received:
C$700,000 in cash on closing
6,000,000 shares on closing, all of which are subject to a statutory hold period expiring on
November 12, 2025, and ½ of which are subject to an additional contractual resale restriction
ending on July 11, 2026, being the date which is 12 months from the closing.
0.5% net smelter returns (NSR) royalty (no buyback provision)
Figure 1 - Location of LIFT's Rupert Project along with the 313 claims being sold to PNPN.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8766/258676_b298443cc458b953_001full.jpg
LIFT's 6,000,000-share position in Power Metallic Mines represents approximately 2.6% of Power
Metallic's outstanding shares, with an estimated current market value of C$7 million.
Francis MacDonald, CEO of LIFT comments, "We are pleased to complete this transaction with Power
Metallic Mines, which allows us to unlock value from our portfolio while maintaining exposure to future
exploration success in the region. This sale strengthens our balance sheet and provides us with
additional flexibility to advance our core projects. We look forward to seeing the progress Power Metallic
will make on these claims."
LIFT Announces DSU Grant
LIFT announces that it has granted a total of 20,407 Deferred Share Units ("DSU") to certain
independent directors of the Company in lieu of director fees for the second quarter, at a fair market
value of C$2.51 per DSU. The DSUs were granted in accordance with the Company's Omnibus Share
Incentive Plan, which was approved by shareholders on May 8
th
, 2025.
Each DSU represents the right to receive one common share in the share capital of the Company. The
DSUs vest one year from the grant date and are settled in accordance with the terms of the Company's
Share Incentive Plan, a copy of which is available on the Company's SEDAR+ profile.
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:
Website:
www.li-ft.com
Daniel Gordon
Investor Relations
Tel: +1.604.609.6185
Email:
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. 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" in the Company's latest annual information form filed on March 21, 2025, 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 nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
news release.
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