Li-FT Power Ltd. has completed its previously announced bought deal public offering, issuing 7,935,000 common shares at a price of C$2.90 per share for gross proceeds of C$23,011,500.

The transaction closed following the full exercise of the over-allotment option. Canaccord Genuity Corp. acted as lead underwriter and sole bookrunner, supported by BMO Capital Markets, Raymond James Ltd., ATB Cormark Capital Markets, and SCP Resource Finance LP.

Underwriters received a 5.0% cash commission on gross proceeds, with a reduced 2.5% rate applied to select president's list orders. An executive participated in the financing, constituting a related-party transaction under Multilateral Instrument 61-101 that was exempt from formal valuation and minority shareholder approval requirements. Because the insider participation was finalised shortly before closing, Li-FT Power did not file a material change report 21 days in advance, closing the offering expeditiously for business reasons.

Li-FT Power intends to use the net proceeds to fund estimated care and maintenance costs for the first year of the Renard option period under the Renard option agreement, with the remainder allocated toward working capital.

Li-FT Power holds a portfolio of hard rock lithium assets in Canada, including the Adina-Galinée Lithium Project in Québec and the Yellowknife Lithium Project in the Northwest Territories, alongside early-stage exploration properties.

Read the full announcement: LIFT Closes C$23 Million Public Offering