The offering in detail
Li-FT Power has entered into a financial agreement with Canaccord Genuity Corp., naming them as lead underwriter and sole bookrunner for the public offering. The offering includes 6,900,000 common shares, each priced at C$2.90, resulting in a total offering size of C$20,010,000 in gross proceeds. The sale is scheduled to close by August 12, 2026, assuming all conditions are met and necessary approvals are received. The Underwriters have also been granted a 30-day window to purchase additional shares, up to 15% of the total issued under the Offering. These shares will be offered through a prospectus supplement, with the base shelf prospectus and related documents accessible on SEDAR+ now or soon. Investors and partners will find detailed information in these documents, which are updated and ready for public access.
The offering is being structured to comply with securities laws in Canada and other jurisdictions. These include all provinces and territories except Québec, as well as private placements to qualified institutional buyers in the United States under Rule 144A, and in other regions like Australia, under exemptions from standard registration requirements. The placement of the 6,900,000 shares will remain within the company's 15% limit as outlined in the Australian Securities Exchange Listing Rule 7.1. Full details of the offering are covered in the Prospectus Supplement, which is expected to be available within two business days. Access to the Prospectus Supplement and base shelf prospectus is provided on SEDAR+ at www.sedarplus.ca. Paper or electronic copies can be obtained at no charge by contacting Canaccord Genuity Corp. via phone or email.
Avenir’s stake and investor rights
Li-FT Power is engaged in an investor rights agreement with Avenir Minerals Limited. This agreement allows Avenir to take part in specific equity financings, including the current offering. Li-FT has notified Avenir in line with the terms of their agreement, and Avenir is anticipated to participate. The involvement of Avenir aligns with Li-FT’s long-term strategy of building a stable funding base and strengthening partnerships in the lithium industry. The company ensures it follows all relevant securities laws in Canada and Australia in handling this participation.
The inclusion of Avenir underlines Li-FT's approach to securing support from strategic partners and maintaining flexibility in its financial planning. Li-FT has communicated with Avenir to ensure full compliance with all terms, and the agreement remains a core component of the current offering. These arrangements help Li-FT maintain its momentum in project development and operational planning.
Funding goals and project focus
Li-FT Power will use the proceeds from this offering to manage the estimated care and maintenance costs for the first year of the Renard option period. These expenses are tied to the Renard option agreement, which outlines the company's commitment to maintaining its lithium assets in Québec. Additionally, the proceeds will help cover working capital needs, which are crucial for the company’s operational continuity and future expansion. Detailed figures and breakdowns of these costs will be included in the Prospectus Supplement for transparency and clarity.
The company's primary focus remains on developing its lithium assets in Québec and the Northwest Territories. These assets are part of a growing portfolio aimed at supplying high-grade lithium to meet global demand for battery materials. Li-FT's development strategy involves careful financial planning to ensure long-term stability and growth. The CEO, Francis MacDonald, is responsible for overseeing communications and further details. Interested investors can reach the company through investors@li-ft.com or by calling +1.604.609.6185.
Li-FT Power is led by a strong board and executive team, with decisions authorized by the Board of Directors. The company emphasizes alignment between its financial strategies and operational goals, ensuring each offering serves its broader mission. The current offering is a key step in achieving those goals, with clear expectations for how the raised funds will be allocated and managed.