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LIFT Sells 313 Claims in Quebec to Power Metallic Mines for $700,000 in Cash and 6,000,000 Shares
Vancouver, British Columbia--(Newsfile Corp. - June 9, 2025) - Li-FT Power Ltd.  (TSXV: LIFT...
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[{"type":"text","content":"LIFT Sells 313 Claims in Quebec to Power Metallic Mines for $700,000 in Cash and 6,000,000 SharesVancouver, British Columbia--(Newsfile Corp. - June 9, 2025) - Li-FT Power Ltd. (TSXV: LIFT) (OTCQX: LIFFF) (FSE: WS0) (\"LIFT\" or the \"Company\") is pleased to announce that it has entered into a definitive agreement with Power Metallic Mines Inc. (TSXV: PNPN) for the sale of a 100% interest in 313 claims from the Rupert Project, Quebec. In consideration for the 313 claims, LIFT will receive: C$700,000 in cash on closing6,000,000 shares on closing3,000,000 of 6,000,000 shares issued are also subject to a contractual, time-based restriction on transfer for 12 months from the closing0.5% net smelter returns (NSR) royalty (no buyback provision)The transaction is subject to customary closing conditions, including regulatory approvals where applicable Following the completion of this transaction, LIFT will retain a total of 2,203 claims comprising the Rupert Project in Quebec.Figure 1 - Location of LIFT's Rupert Project along with the 313 claims being sold to PNPN.To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8766/254908_6ddfc062b4b0483d_001full.jpgFrancis MacDonald, CEO of LIFT comments, \"This transaction unlocks value within LIFT's portfolio with the divesture of non-core claims and allows us to participate in the exciting discoveries that Power Metallic has made. With the current lithium market conditions remaining challenging, this transaction provides optionality for a non-dilutive source of capital down the road. We look forward to seeing the progress that Power Metallic will make in the coming months.\" Qualified PersonThe disclosure in this news release of scientific and technical information regarding LIFT's mineral properties has been reviewed and approved by Don Cummings, P.Geo., OGX Member 2183 and a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101).About LIFTLIFT is a mineral exploration company engaged in the acquisition, exploration, and development of lithium pegmatite projects located in Canada. The Company's 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 ...