LIFT Announces Appointment of Anthony Tse as Executive Chairman
Rhea-AI Summary
Li-FT Power (OTCQX: LIFFF) has appointed Anthony Tse as Executive Chairman, bringing nearly 30 years of experience in high-growth and technology industries. Tse, the former Managing Director and CEO of Galaxy Resources, has extensive expertise in the lithium battery value chain and energy transition sector.
During his tenure at Galaxy Resources, Tse transformed the company into one of the top 5 global lithium producers. He currently serves as Chairman of Nano One Materials Corp. and Board Director of Li-Cycle Corp. The company also announced that Alexander Langer will transition to Director and resign as President, with CEO Francis MacDonald assuming the President role. Additionally, Board Directors Iain Scarr and Kenneth Scott have resigned.
In connection with his appointment, Tse has been granted 400,000 stock options at CAD$2.54 per share, vesting over three years.
Positive
- Appointment of highly experienced Anthony Tse as Executive Chairman, bringing 30 years of industry expertise
- Tse's proven track record in scaling lithium businesses globally and developing Galaxy Resources into a top 5 global producer
- Strategic positioning for North American lithium supply chain development
Negative
- Multiple simultaneous management changes with resignation of President and two Board Directors
- Significant stock option grant of 400,000 shares potentially leading to dilution
News Market Reaction
On the day this news was published, LIFFF gained 14.92%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - July 30, 2025) - Li-FT Power Ltd. (TSXV: LIFT) (OTCQX: LIFFF) (FSE: WS0) ("LIFT" or the "Company") is pleased to announce the appointment of Anthony Tse to its Board of Directors as Executive Chairman, effective immediately (the "Appointment"). Mr. Tse brings nearly 30 years of experience in both the private and public companies in high-growth and technology industries, with the most recent 15 years focused on the energy transition sector, predominantly covering the lithium battery value chain, ranging from upstream resource development and mining, through chemicals and materials, as well as battery recycling. His roles have been predominantly in senior management, with focus on strategy, growth and development, as well as M&A and corporate finance.
He is the former Managing Director and CEO of Galaxy Resources, where he served on the Board for over a decade and managed a global portfolio of lithium mining operations and project developments across Australia, China, Argentina and Canada. During his tenure he grew the company from a junior mining development company to become one of the top 5 lithium producers globally, following the creation of Allkem and its merger with Orocobre in 2021 – it then merged with Livent to create Arcadium, which was recently acquired by Rio Tinto.
He is currently Chairman of Nano One Materials Corp., a leading developer of technologies for the production of cathode materials for lithium-ion batteries, a Board Director of Li-Cycle Corp., a battery recycling and resource recovery player in North America and Europe. Aside from his industry roles, Mr. Tse has held positions with leading institutional investors. He is a Senior Advisor to EMR Capital, a global natural resources private equity firm and was previously an Operating Partner with the Global Private Equity Group of Franklin Templeton, a global asset management organization.
Francis MacDonald, CEO of LIFT, comments, "Anthony's proven leadership in developing and scaling lithium businesses globally, along with his deep industry insight, make him an invaluable addition to our team. We are pleased to welcome him as Executive Chairman and look forward to leveraging his experience as we accelerate the advancement of our projects."
Mr. Tse said, "With the continued global growth in the electric vehicle and energy storage sectors, the industry globally is now pushing to build out more diversified regional supply chains. As the battery value chain continues to mature and grow around the world outside of North Asia, it is paramount that lithium resources continue to be developed, and production capacity be built out in parallel to supply critical minerals into those regional value chains. I believe LIFT will have a key role to play in the North America region.
"I have been impressed with the promising portfolio of lithium assets that the team at LIFT has built out and am looking forward to working with the Board and management on the next stage of strategic growth and development for the Company."
The Company further announces that Alexander Langer will transition to Director and has resigned as President of the Company. Francis MacDonald, CEO and Director of the Company, will assume the role of President. The Company also announces the resignation of Board Directors Iain Scarr and Kenneth Scott, effective immediately.
Alexander Langer, Director of LIFT comments, "We sincerely thank Iain and Ken for their commitment, dedication, and meaningful contributions as valued members of LIFT's Board of Directors. I'm excited to transition into the role of Director, where I'll continue supporting Francis and the entire management team as we advance the company. I'd also like to welcome Anthony, his experience in building fully integrated lithium operations will be a tremendous asset to the team."
In connection with the Appointment, the Company has granted 400,000 stock options (the "Options") to Mr. Tse. Each Option is exercisable into one common share of the Company (each a "Share") at a price of CAD
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: investors@li-ft.com Website: www.li-ft.com | Daniel Gordon Investor Relations Tel: +1.604.609.6185 Email: investors@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. 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/260634
FAQ
Who is the new Executive Chairman of Li-FT Power (LIFFF)?
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What management changes occurred at Li-FT Power (LIFFF) in July 2025?
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