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Li-FT Power Provides Financing Update
Globenewswire· 2026-01-22 08:05
Core Viewpoint - Li-FT Power Ltd. is progressing with its previously announced offerings related to the acquisition of Winsome Resources Limited, aiming to raise approximately C$40 million through various subscription receipts and share offerings [2][4]. Group 1: Offerings Details - The Company has entered into agreements with Canaccord Genuity Corp. as the lead underwriter to raise gross proceeds of approximately C$40 million, which includes a Subscription Receipt Offering and a Non-Subscription Receipt Offering [2]. - The issuance price for the FT Subscription Receipts has been increased from C$6.45 to C$6.88, raising expected gross proceeds from C$25,000,200 to C$26,666,880 for the sale of 3,876,000 FT Subscription Receipts [3]. - The Offerings are scheduled to close on or about January 29, 2026, pending requisite approvals from the TSX Venture Exchange [4]. Group 2: Company Overview - Li-FT Power Ltd. is a mineral exploration company focused on lithium pegmatite projects in Canada, with its flagship project being the Yellowknife Lithium Project in Northwest Territories [6]. - The Company also holds three early-stage exploration properties in Quebec and the Cali Project in Northwest Territories [7].