VANCOUVER, British Columbia, Feb. 24, 2026 (GLOBE NEWSWIRE) — Li-FT Power Ltd. (\u201cLIFT\u201d or the \u201cCompany\u201d) (TSXV: LIFT) (OTCQX: LIFFF) (Frankfurt: WS0) is pleased to announce further to its December 15, 2025 press release regarding, among other things, LIFT entering into a non-binding letter of intent with SOQUEM Inc. (\u201cSOQUEM\u201d) and Azimut Exploration Inc., that it has entered into a definitive purchase agreement dated February 23, 2026 with SOQUEM to acquire an additional 25% interest in the exclusive exploration rights commonly known as the Galin\u00e9e property (\u201cGalin\u00e9e Property\u201d), which would bring its total aggregate interest in the Galin\u00e9e Property to a 75% interest with the remainder of the interest in the Galin\u00e9e Property to remain held by SOQUEM (the “SOQUEM Transaction”), subject to the satisfaction of various conditions. LIFT is the operator of the project on the Galin\u00e9e Property under joint venture with SOQUEM.<\/p>\n
Under the terms of the purchase agreement with SOQUEM (the \u201cSOQUEM Agreement\u201d), consideration for SOQUEM\u2019s 25% interest in the Galin\u00e9e Property will consist of 1,000,000 common shares in the capital of the Company. All common shares issued pursuant to the SOQUEM Agreement will be subject to a statutory hold period of four months and one day in accordance with applicable Canadian securities laws. The SOQUEM Transaction is subject to the receipt of TSX Venture Exchange approval and the satisfaction of other customary closing conditions.<\/p>\n
About LIFT<\/p>\n
LIFT is a mineral exploration company engaged in the acquisition, exploration, and development of lithium pegmatite projects located in Canada. The Company\u2019s 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.<\/p>\n