Li-FT Announces Closing of C$48.1 Million Private Placement Financing, Including Full Exercise of the Underwriters' Option

Core Viewpoint - Li-FT Power Ltd. has successfully closed its previously announced offerings, raising approximately C$48.1 million, which includes the full exercise of underwriters' options [2][6]. Group 1: Offerings Details - The offerings included the sale of 3,876,000 flow-through subscription receipts at C$6.88 for gross proceeds of C$26,666,880 and 2,209,300 non-flow-through subscription receipts at C$4.30 for gross proceeds of C$9,499,990 [7]. - Additionally, 775,200 flow-through common shares were sold at C$6.45 for gross proceeds of C$5,000,040, and 1,627,800 non-flow-through common shares at C$4.30 for gross proceeds of C$6,999,540 [7]. - The total gross proceeds from the offerings were C$48.1 million, which included a cash commission of 5.0% paid to the underwriters [2][8]. Group 2: Use of Proceeds - Proceeds from the sale of flow-through subscription receipts will be used for eligible Canadian exploration expenses related to the Adina-Galinée property in Quebec, with a deadline of December 31, 2027 [4]. - The net proceeds from non-flow-through subscription receipts will be allocated towards the Adina-Galinée property and general corporate purposes [4]. - Proceeds from the sale of flow-through shares will be directed towards qualifying expenditures on the Yellowknife Lithium Project and other exploration properties, also with a deadline of December 31, 2027 [5]. Group 3: Insider Participation - Certain directors and officers of the company participated in the offerings, which constituted a related party transaction. The company was exempt from formal valuation and minority shareholder approval requirements [9].