LIFT Elects to Proceed with Second Option at Pontax Property, Quebec
Li-FT Power (OTCQX: LIFFF) has elected to proceed with the second option for the Pontax Property in Quebec's Eeyou-Istchee James Bay region, following its successful acquisition of an initial 51% interest. To secure an additional 19% stake (total 70%), LIFT must make a $50,000 payment and invest $3.35 million in exploration within three years.
The company will satisfy the initial payment by issuing 14,044 shares at $3.56 per share. Upon completion, Harfang can either convert its remaining 30% interest into a 2.5% NSR royalty or form a joint venture. Additionally, LIFT granted 8,422 Deferred Share Units to independent directors at $2.30 CAD per unit.
Li-FT Power (OTCQX: LIFFF) ha scelto di avanzare con la seconda opzione per la Pontax Property nella regione Eeyou-Istchee James Bay del Québec, dopo l'acquisizione riuscita di una quota iniziale del 51%. Per assicurare una partecipazione addizionale del 19% (totale 70%), LIFT deve effettuare un pagamento di 50.000 USD e investire 3,35 milioni di USD in esplorazione entro tre anni.
Il pagamento iniziale sarà soddisfatto emettendo 14.044 azioni a 3,56 USD per azione. Al completamento, Harfang potrà convertire il restante 30% in una royalty NSR del 2,5% o formare una joint venture. Inoltre, LIFT ha concesso 8.422 Deferred Share Units ai membri indipendenti del consiglio al prezzo di 2,30 CAD per unità.
Li-FT Power (OTCQX: LIFFF) ha decidido seguir la segunda opción para la Propiedad Pontax en la región Eeyou-Istchee James Bay de Québec, tras la exitosa adquisición de un interés inicial del 51%. Para asegurar una participación adicional del 19% (total 70%), LIFT debe realizar un pago de 50.000 USD y invertir 3,35 millones de USD en exploración durante tres años.
La empresa cubrirá el pago inicial emitiendo 14.044 acciones a 3,56 USD por acción. Al cierre, Harfang podrá convertir su 30% restante en una regalía NSR del 2,5% o formar una empresa conjunta. Además, LIFT otorgó 8.422 Deferred Share Units a los directores independientes a un precio de 2,30 CAD por unidad.
Li-FT Power (OTCQX: LIFFF)가 퀘벡 주의 이유-이구 제임스 베이 지역의 에 대한 두 번째 옵션을 선택했습니다. 초기 51% 지분 취득에 성공한 뒤입니다. 추가로 19%를 확보하려면(총 70%), LIFT는 5만 달러의 지불과 3.35백만 달러를 3년 이내에 탐사에 투자해야 합니다.
초기 지급은 14,044주를 주당 3.56달러에 발행하여 충당합니다. 완료 시 Harfang는 남은 30% 지분을 2.5% NSR 로열티로 전환하거나 합작 회사를 구성할 수 있습니다. 또한 LIFT는 독립 이사들에게 단위당 2.30 CAD에 8,422 Deferred Share Units를 부여했습니다.
Li-FT Power (OTCQX: LIFFF) a choisi d'opter pour la seconde option concernant la Propriété Pontax dans la région Eeyou-Istchee James Bay du Québec, après l'acquisition réussie d'une participation initiale de 51%. Pour sécuriser une participation supplémentaire de 19% (soit 70% au total), LIFT doit verser 50 000 USD et investir 3,35 millions USD dans l'exploration sur trois ans.
Le paiement initial sera satisfait par l'émission de 14 044 actions à 3,56 USD par action. À l'achèvement, Harfang pourra soit convertir les 30% restants en une redevance NSR de 2,5%, soit former une coentreprise. De plus, LIFT a accordé 8 422 Deferred Share Units aux administrateurs indépendants à 2,30 CAD par unité.
Li-FT Power (OTCQX: LIFFF) hat sich entschieden, die zweite Option für die Pontax Property in der Eeyou-Istchee James Bay-Region von Québec zu verfolgen, nach dem erfolgreichen Erwerb einer anfänglichen 51%-Beteiligung. Um zusätzlich 19% zu sichern (insgesamt 70%), muss LIFT innerhalb von drei Jahren eine Zahlung von 50.000 USD leisten und 3,35 Millionen USD in Exploration investieren.
Die anfängliche Zahlung wird durch die Ausgabe von 14.044 Aktien zu 3,56 USD pro Aktie beglichen. Nach Abschluss kann Harfang seine verbleibenden 30% in eine NSR-Royalties von 2,5% umwandeln oder ein Joint Venture bilden. Zusätzlich hat LIFT unabhängigen Direktoren 8.422 Deferred Share Units zu einem Preis von 2,30 CAD pro Einheit gewährt.
Li-FT Power (OTCQX: LIFFF) اختارت المضي في الخيار الثاني لـعقار Pontax في منطقة كيبك Eeyou-Istchee James Bay، عقب نجاحها في الاستحواذ على حصة ابتدائية بنسبة 51%. لتأمين حصة إضافية بنسبة 19% (إجمالي 70%)، يجب أن تدفع LIFT 50,000 دولار أمريكي وتستثمر 3.35 مليون دولار أمريكي في الاستكشاف خلال ثلاث سنوات.
سيتم تلبية الدفعة الأولية عن طريق إصدار 14,044 سهماً بسعر 3.56 دولار أمريكي للسهم. عند الإتمام، يمكن لـ Harfang تحويل حصته المتبقية البالغة 30% إلى رُويَة NSR بنسبة 2.5% أو تأسيس مشروع مشترك. بالإضافة إلى ذلك، منحت LIFT 8,422 وحدة أسهم مؤجلة للمساهمين المستقلين بسعر وحدة قدره 2.30 CAD.
Li-FT Power (OTCQX: LIFFF) 已选择对魁北克Eeyou-Istchee James Bay地区的Pontax Property采取第二个选项，此前已成功取得初始51%的股权。为获得额外的19%股权（总计70%），LIFT必须在三年内支付50,000美元并在勘探上投入3,350,000美元。
初始付款将通过发行14,044股、价格为3.56美元/股来完成。完成后，Harfang可以将其剩余的30%股权转换为2.5%的NSR特许权，或组建合资企业。此外，LIFT已向独立董事授予8,422份递延股份单位，单位价格为2.30 CAD。
- Acquisition of majority control (70%) in strategic Quebec lithium property
- Successfully completed first option requirements including $1.65M in exploration expenditures
- Flexible structure allowing for either royalty conversion or joint venture partnership
- Required significant additional investment of $3.35M in exploration expenditures
- Share dilution through issuance of consideration shares and DSUs
- Three-year timeline commitment for exploration requirements
Vancouver, British Columbia--(Newsfile Corp. - September 23, 2025) - Li-FT Power Ltd. (TSXV: LIFT) (OTCQX: LIFFF) (FSE: WS0) ("LIFT" or the "Company") is pleased to announce it has elected to proceed with the second option in respect of the Pontax Property located in the Eeyou-Istchee James Bay region in Quebec approximately 220 kilometres north of Matagami (the "Pontax Property"), pursuant to an option agreement between the Company and Harfang Exploration Inc. ("Harfang") dated July 20, 2022 (the "Option Agreement").
The Company previously exercised its first option and acquired an initial
Following the exercise of the first option, the Company elected to accept the grant of the second option to acquire a further
- make an additional
$50,000 payment in cash or common shares upon election; and - incur an additional
$3,350,000 in expenditures on the Pontax Property prior to the expiry of the second option period, which ends three years after the exercise of the first option. - Election notice and timing: LIFT delivered the required First Notice of Election together with the
$50,000 election payment within the prescribed 60-day period, in accordance with the Option Agreement.
The Company will satisfy the
Upon exercise of the second option, Harfang will have the option of converting its remaining participating interest of
The share issuance has received approval from the TSX Venture Exchange.
Post-Exercise Structure
Following LIFT's exercise of the Second Option, Harfang may elect either to:
- convert its
30% interest into a2.5% net smelter returns ("NSR") royalty over the Property; or - form a joint venture with LIFT to further advance the Property, in each case as set out in the Option Agreement.
LIFT Announces DSU Grant
LIFT announces that it has granted a total of 8,422 Deferred Share Units ("DSU") to certain independent directors of the Company in lieu of director fees for the third quarter, at a fair market value of
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 Tel: + 1.604.609.6185 Email: investors@li-ft.com Website: www.li-ft.com | Daniel Gordon Officer 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.
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FAQ
What percentage stake will LIFFF own in the Pontax Property after completing the second option?
How much additional investment is required for LIFFF's second option at Pontax?
What are Harfang's options after LIFFF completes the second option?
Where is the Pontax Property located and what is its strategic importance?
How many DSUs did LIFFF grant to directors and at what price?
