Li Ft Expands Portfolio With Azimut’s 50% Galinee Stake

Li-FT Power Ltd. has signed a new agreement that could reshape its Canadian lithium portfolio, with an acquisition focused on a key Quebec asset.

Details of the Galinee transaction with Azimut Exploration

On Dec. 24, 2025, Vancouver-based Li-FT Power Ltd. announced that it had entered into a definitive project acquisition agreement with Azimut Exploration Inc.. Under this binding deal, Li-FT will acquire Azimut’s interest in the exclusive exploration rights known as the Galinée property, representing 50% of the total interest in that asset.

The transaction (the “Galinée Transaction“) remains subject to satisfaction of various conditions before closing. However, the agreement already sets a clear structure for consideration, governance and regulatory approvals, which positions both parties for a streamlined completion process.

Moreover, this move deepens Li-FT’s exposure to lithium-rich pegmatite systems in Quebec, complementing its existing portfolio in Canada’s key battery metals regions.

Key terms and consideration structure

For Azimut’s 50% interest in the Galinée Property, the consideration will be delivered in both equity and royalty form. Upfront consideration consists of 2,000,000 common shares of Li-FT (the “Closing Date Consideration Shares“) plus a 1.4% net smelter return royalty (“NSR“) on the Galinée Property. That said, the royalty structure ensures Azimut retains long-term economic exposure to any future production.

Deferred consideration totals $1,500,000, payable in cash or, subject to conditions in the definitive agreement, in additional shares of Li-FT. This payment will be triggered at the earliest of the completion of an economic study on the Galinée Property or 18 months from closing, which ties value directly to project advancement.

Moreover, by combining equity, a royalty and a staged cash or share payment, the parties have balanced immediate ownership transfer with ongoing financial incentives for both sides.

Regulatory approval and closing conditions

The Galinée Transaction is subject to receipt of TSX Venture Exchange approval for the issuance and listing of the Closing Date Consideration Shares. In addition, the deal is conditional on various other closing requirements that are considered customary for transactions of this nature in the Canadian mining sector.

However, no changes to the headline consideration terms are expected as part of this regulatory review. Once these conditions are satisfied, Li-FT will formally secure Azimut’s entire 50% interest in the Galinée Property, consolidating ownership of the exclusive exploration rights.

Strategic significance of the Galinee lithium asset

Galinée hosts wide, high-grade lithium-bearing pegmatites immediately adjacent to Winsome’s Adina deposit. This proximity to an established lithium discovery highlights the property’s strategic location within a proven mineralized corridor. Moreover, at a broader scale, Galinée features multiple well-defined prospects that have been advanced through systematic exploration.

That said, recent till sampling has led to the discovery of new spodumene-bearing boulders and delineated two additional highly prospective target areas. These new targets underscore the exploration upside that underpins the Galinee property acquisition and support Li-FT’s thesis on the district’s potential.

In this context, the li ft acquisition of Azimut’s 50% stake is designed to give Li-FT greater control over exploration strategy, pace of work and future development options at Galinée.

Li-FT’s broader lithium exploration portfolio

Li-FT is a mineral exploration company focused on the acquisition, exploration and development of lithium pegmatite projects in Canada. The company’s flagship asset is the Yellowknife Lithium Project, located in the Northwest Territories, which remains a core driver of its growth strategy in the battery metals space.

In addition to Yellowknife, Li-FT holds three early-stage exploration properties in Quebec, Canada. These projects are considered to have excellent potential for the discovery of buried lithium pegmatites, reinforcing the company’s pipeline beyond its advanced assets. Moreover, Li-FT owns the Cali Project in the Northwest Territories within the Little Nahanni Pegmatite Group, further diversifying its exposure.

Together, these projects and the Galinée Transaction highlight Li-FT’s continued focus on building a high-quality portfolio of lithium pegmatite assets across multiple Canadian jurisdictions.

Additional information and investor contacts

The company continues to update its website as exploration results and transaction milestones are achieved at Galinée and other projects.

In summary, the acquisition of Azimut’s 50% interest in the Galinée Property, coupled with Li-FT’s existing Canadian lithium assets, positions the company to benefit from continued demand for lithium-bearing pegmatites in key North American markets.