Li-FT Power Signs Definitive Project Acquisition Agreement with Azimut

About this update from Azimut Exploration, Inc.

[{"type":"text","content":"Li-FT Power Signs Definitive Project Acquisition Agreement with Azimut\nVANCOUVER, British Columbia, Dec. 24, 2025 (GLOBE NEWSWIRE) -- Li-FT Power Ltd. (“Li-FT”) (TSXV: LIFT) (OTCQX: LIFFF) (Frankfurt: WS0) is pleased to announce, further to its December 14, 2025 press release regarding Li-FT entering into a binding scheme implementation deed with Winsome Resources Ltd. (“Winsome”) and non-binding letter of intent with Azimut Exploration Inc. (“Azimut”) (TSXV: AZM) (OTCQX: AZMTF) and SOQUEM Inc., that it has entered into a definitive project acquisition agreement with Azimut to acquire Azimut’s interest in the exclusive exploration rights commonly known as the Galinée property (“Galinée Property”), representing 50% of the total interest in the Galinée Property (the \"Galinée Transaction\"), subject to the satisfaction of various conditions. Key Conditions and Terms of the Definitive Project Acquisition Agreement with Azimut For Azimut’s 50% interest in the Galinée Property, consideration will consist of: Upfront consideration: 2,000,000 common shares of Li-FT (the “Closing Date Consideration Shares”) and a 1.4% net smelter return royalty (“NSR”) on the Galinée Property.Deferred consideration: $1,500,000, payable in cash or, subject to conditions set out in the definitive agreement, in shares of Li-FT, at the earliest of the completion of an economic study with respect to the Galinée Property or 18 months. The Galinée Transaction is subject to the receipt of TSX Venture Exchange’s approval of the issuance and listing of the Closing Date Consideration Shares and various other closing conditions that are considered customary. Galinée Property Highlights Galinée hosts wide, high-grade lithium-bearing pegmatites adjacent to Winsome’s Adina deposit. At a broader scale, Galinée features multiple well-defined prospects, with recent till sampling leading to the discovery of new spodumene-bearing boulders and delineating two additional highly prospective target areas. About Li-FT Li-FT is a mineral exploration company engaged in the acquisition, exploration, and development of lithium pegmatite projects located in Canada. Li-FT’s flagship project is the Yellowknife Li...

More updates from Azimut Exploration, Inc.