Lift Closes Transaction With Azimut for 50% Interest in Galinée Property
MWN-AI** Summary
Li-FT Power Ltd. (“LIFT”) has successfully finalized its acquisition of a 50% interest in the Galinée property from Azimut Exploration Inc. This transaction, which follows earlier announcements from December 2025, positions LIFT with a significant stake in a property adjacent to the Adina lithium deposit owned by Winsome Resources Ltd. The Galinée property interest is being shared with SOQUEM Inc., which retains the other half.
Under the terms of the agreement, LIFT will issue 2,000,000 common shares to Azimut and grant a 1.4% net smelter return royalty (NSR) on the Galinée property. The NSR will be shared between LIFT and SOQUEM in line with their ownership stakes. Additionally, there is a deferred payment of $1.5 million, payable in cash or common shares, occurring either upon completion of an economic study of the Galinée property or within 18 months from the deal's closure.
Francis MacDonald, President & CEO of LIFT, expressed optimism about the acquisition, indicating it brings the company closer to fulfilling conditions needed to acquire Winsome Resources. The integration of the Adina and Galinée properties could unlock greater value and scale in their development of lithium resources.
Li-FT Power is focused on the exploration and development of lithium pegmatite projects in Canada, with its flagship asset being the Yellowknife Lithium Project in the Northwest Territories. The company also owns several early-stage exploration properties in Quebec with promising potential for discovering buried lithium pegmatites.
Investors are reminded that this press release includes forward-looking statements subject to risks and uncertainties, which could result in actual outcomes differing from projections made.
MWN-AI** Analysis
Li-FT Power Ltd. (TSXV: LIFT) has made a significant strategic move by acquiring a 50% interest in the Galinée Property from Azimut Exploration Inc. This acquisition not only expands LIFT's portfolio but also positions the company adjacent to Winsome Resources’ Adina lithium deposit, enhancing its potential in the burgeoning lithium market.
Investors should view this transaction as a positive indicator for LIFT, given the increasing demand for lithium driven by the energy transition movement and the growing electric vehicle (EV) market. With this transaction, LIFT is closer to fulfilling its acquisition of Winsome Resources, which could unlock additional value from the merged deposits.
The terms of the deal involve the issuance of 2 million common shares and a 1.4% net smelter return royalty. Investors should take note of the deferred consideration of $1.5 million, which can be paid in cash or shares depending on the economic study's completion. This aspect provides LIFT with flexibility and an opportunity to manage its cash flow optimally. However, shareholders should also remain aware of the four-month statutory hold on new shares, which may affect liquidity in the short term.
As LIFT seeks to explore further potential in the Galinée Property, market participants should monitor the company’s advancements in exploration and any upcoming economic studies that may bolster its assets' valuation. The current market sentiment towards lithium companies is robust, given the EV industry's growth trajectory, making this acquisition timely.
For investors, now may be a prudent time to analyze LIFT's stock performance and consider positions, especially as detailed studies on the Galinée Property emerge. The merging of resources could create a competitive advantage, leading to an appreciation in share price. However, potential investors should continue to assess the inherent risks associated with mineral exploration.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
VANCOUVER, British Columbia, Feb. 18, 2026 (GLOBE NEWSWIRE) -- Li-FT Power Ltd. (“LIFT” or the “Company”) (TSXV: LIFT) (OTCQX: LIFFF) (Frankfurt: WS0) is pleased to announce that further to its December 15, 2025 and December 24, 2025 press releases, it has closed its acquisition of a 50% interest in the Galinée property (the “Galinée Property”) from Azimut Exploration Inc. (“Azimut”) (TSXV:AZM) (OTCQX:AZMTF) in Québec, immediately adjacent to the Adina lithium deposit which is owned by Winsome Resources Ltd. (“Winsome”), with the remainder of the interest in the Galinée Property currently being held by SOQUEM Inc. (“SOQUEM”).
Under the terms of the agreement with Azimut Exploration Inc. (the “Azimut Agreement”), LIFT has acquired all of Azimut’s rights, title and interest in the Galinée Property, in consideration for the issuance of 2,000,000 common shares of the capital of the Company and the grant of a 1.4% net smelter return royalty (“NSR”) on the Galinée Property. LIFT and SOQUEM will be responsible for the NSR in proportion to their percentage ownership of the Galinée Property. In addition, the Azimut Agreement provides a deferred consideration of $1,500,000 payable in cash or, subject to the conditions set out in the definitive agreement, in common shares of the Company, at the earlier of (i) completion of an economic study in respect of the Galinée Property or (ii) 18 months following closing. All common shares issued pursuant to the Azimut Agreement will be subject to a statutory hold period of four months and one day in accordance with applicable Canadian securities laws.
Francis MacDonald, President & CEO of LIFT comments, “With the closing of the 50% acquisition of the Galinée property, LIFT is one step closer to satisfying the conditions outlined in our offer to acquire Winsome Resources. By combining the Adina and Galinée properties the true value and scale of the Adina lithium deposit can be unlocked.”
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 | Daniel Gordon |
| Chief Executive Officer | Investor Relations |
| Tel: + 1.604.609.6185 | Tel: +1.604.609.6185 |
| Email: investors@li-ft.com | Email: investors@li-ft.com |
| Website: www.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.
FAQ**
How does Li-FT Power Ltd Com LIFFF plan to leverage its 50% interest in the Galinée Property to enhance its operational strategy in the lithium sector?
What are the expected timelines for the completion of the economic study on the Galinée Property, and how might that impact Li-FT Power Ltd Com LIFFF's financial position?
Can you elaborate on how the combination of the Adina and Galinée properties will unlock value for Li-FT Power Ltd Com LIFFF, and what synergies the management anticipates?
What specific risks should investors be aware of regarding the acquisition of the Galinée Property by Li-FT Power Ltd Com LIFFF, as outlined in the company's latest annual information form?
**MWN-AI FAQ is based on asking OpenAI questions about Li-FT Power Ltd Com (OTC: LIFFF).
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