LIFT Closes Sale of 313 Claims in Quebec to Power Metallic Mines for $700,000 in Cash and 6,000,000 Shares

Core Viewpoint - Li-FT Power Ltd. has successfully completed the sale of 313 claims in Quebec to Power Metallic Mines for C$700,000 in cash and 6,000,000 shares, enhancing its financial flexibility and maintaining exposure to future exploration success in the region [1][7]. Financial Details - The transaction includes a cash payment of C$700,000 and 6,000,000 shares of Power Metallic Mines, which represent approximately 2.6% of Power Metallic's outstanding shares, with an estimated market value of C$7 million [5][6]. - The shares are subject to a statutory hold period expiring on November 12, 2025, with half of them also subject to a contractual resale restriction ending on July 11, 2026 [6]. Company Strategy - The sale is part of the company's strategy to unlock value from its portfolio while strengthening its balance sheet and providing additional flexibility to advance core projects [7]. - The company continues to focus on lithium pegmatite projects, with its flagship project being the Yellowknife Lithium Project in Northwest Territories, Canada [9]. Additional Information - The company has granted 20,407 Deferred Share Units (DSUs) to independent directors in lieu of director fees for the second quarter, valued at C$2.51 per DSU [7][8]. - Each DSU represents the right to receive one common share, vesting one year from the grant date [8].