Azimut and SOQUEM to Participate in LiFT Power's Consolidation of the Galinée-Adina Lithium District in the James Bay Region of Quebec

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[{"type":"text","content":"Azimut and SOQUEM to Participate in LiFT Power’s Consolidation of the Galinée-Adina Lithium District in the James Bay Region of QuebecAzimut to become a significant shareholder of LiFT and to retain exposure through a 1.4% NSR royalty\n\n\n\n LONGUEUIL, Quebec, Dec. 15, 2025 (GLOBE NEWSWIRE) --\n \n Azimut Exploration Inc.\n \n (“Azimut” or the “Company”) (\n \n TSXV: AZM\n \n ) (\n \n OTCQX: AZMTF\n \n ) is pleased to announce the signing, together with\n \n SOQUEM Inc.\n \n (“SOQUEM”), of a non-binding letter of intent (“LOI”) to restructure their 50/50 joint venture on the\n \n Galinée Property\n \n (the “Property”) in the Eeyou Istchee James Bay region of Quebec by selling an aggregate 75% interest in the Property to\n \n LiFT Power Ltd.\n \n (“LiFT”) (TSXV: LIFT, OTCQX: LIFFF). This transaction is disclosed in conjunction with LiFT’s announcement, on December 15, 2025 (in Australia), of its proposed acquisition of Winsome Resources Ltd. (“Winsome”), the owner of the adjacent development-stage Adina property (\n \n see Figures 1 and 2\n \n ).\n \n\n The consolidation of this district would allow LiFT to advance a strengthened property package unconstrained by the Galinée-Adina boundary. The proposed transaction aligns with Azimut’s objective to focus on its flagship assets while maintaining exposure to emerging lithium districts through equity ownerships and retained royalties.\n \n\n Under the terms of the LOI, LiFT would acquire from Azimut a 50% interest in the Property by issuing\n \n 2,000,000 shares to Azimut\n \n and an additional 25% interest from SOQUEM by issuing 1,000,000 shares to SOQUEM.\n \n Azimut would retain a 1.4% NSR royalty on the Galinée Property\n \n while SOQUEM would retain a 25% undivided interest in the Property via a joint venture with LiFT. In addition, Azimut would be entitled to a $1,500,000 deferred payment, payable in cash or, subject to conditions to be set out in the definitive agreements, in shares, at the earlier of the completion of a preliminary economic study with respect to the Property or 18 months.\n \n\n The\n \n Galinée Property\n \n (649 claims, 335 km\n \n 2\n \n ) is currently a 50/50 joint venture project between Azi...

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