Lift Announces a Strategic $21.3 Million Private Placement
Li-FT Power announces a strategic non-brokered private placement worth $21.3 million, comprising 2,694,895 flow-through shares at $5.6575 and 1,645,000 hard dollar shares at $3.65. A single strategic investor, currently holding 363,918 shares, will purchase all offered shares, increasing their ownership to 4,703,813 shares (9.99% of outstanding shares). The proceeds from hard dollar shares will advance Canadian assets and corporate purposes, while flow-through shares will fund Canadian exploration expenses in Northwest Territories by December 2025. The offering is expected to close by November 12, 2024, subject to conditions including TSX Venture Exchange approval.
Li-FT Power annuncia un collocamento privato strategico non intermediazione del valore di $21.3 milioni, composto da 2.694.895 azioni flow-through a $5.6575 e 1.645.000 azioni a pagamento diretto a $3.65. Un singolo investitore strategico, attualmente possessore di 363.918 azioni, acquisterà tutte le azioni offerte, aumentando la propria partecipazione a 4.703.813 azioni (9,99% delle azioni in circolazione). I ricavi delle azioni a pagamento diretto supporteranno beni canadesi e scopi aziendali, mentre le azioni flow-through finanzieranno le spese di esplorazione canadese nei Territori del Nord-Ovest entro dicembre 2025. Si prevede che l'offerta si chiuda entro il 12 novembre 2024, subordinata a condizioni comprese l'approvazione della TSX Venture Exchange.
Li-FT Power anuncia una colocación privada estratégica sin intermediarios por un valor de $21.3 millones, que consta de 2,694,895 acciones flow-through a $5.6575 y 1,645,000 acciones a dinero duro a $3.65. Un único inversor estratégico, que actualmente posee 363,918 acciones, comprará todas las acciones ofrecidas, aumentando su participación a 4,703,813 acciones (9.99% de las acciones en circulación). Los ingresos de las acciones a dinero duro se destinarán a activos canadienses y propósitos corporativos, mientras que las acciones flow-through financiarán los gastos de exploración en Canadá en los Territorios del Noroeste para diciembre de 2025. Se espera que la oferta se cierre antes del 12 de noviembre de 2024, sujeto a condiciones que incluyen la aprobación de la TSX Venture Exchange.
Li-FT Power는 $21.3백만의 비중개 사모 배치를 발표하며, 2,694,895주의 흐름주식과 1,645,000주의 현금 주식이 포함되어 있습니다. $5.6575 및 $3.65에 판매됩니다. 현재 363,918주를 보유하고 있는 단일 전략적 투자자가 제공된 모든 주식을 구매하여 소유 지분을 4,703,813주(발행 주식의 9.99%)로 늘립니다. 하드 달러 주식의 수익금은 캐나다의 자산과 기업 목적에 사용되며, 흐름주식은 2025년 12월까지 북서부 준주에서 캐나다 탐사 비용을 지원합니다. 이 제안은 TSX Venture Exchange 승인을 포함한 조건에 따라 2024년 11월 12일 이전에 종료될 것으로 예상됩니다.
Li-FT Power annonce un placement privé stratégique sans intermédiaire d'une valeur de $21,3 millions, comprenant 2 694 895 actions flow-through à 5,6575 $ et 1 645 000 actions en espèces à 3,65 $. Un investisseur stratégique unique, détenant actuellement 363 918 actions, achètera toutes les actions offertes, augmentant sa participation à 4 703 813 actions (9,99 % des actions en circulation). Les produits des actions en espèces serviront à faire avancer les actifs canadiens et les objectifs de l'entreprise, tandis que les actions flow-through financeront les dépenses d'exploration canadiennes dans les Territoires du Nord-Ouest d'ici décembre 2025. La clôture de l'offre est prévue pour le 12 novembre 2024, sous réserve de conditions incluant l'approbation de la TSX Venture Exchange.
Li-FT Power kündigt eine strategische nicht vermittelte Privatplatzierung im Wert von $21,3 Millionen an, die aus 2.694.895 Flow-Through-Aktien zu $5,6575 und 1.645.000 Hard-Dollar-Aktien zu $3,65 besteht. Ein einzelner strategischer Investor, der derzeit 363.918 Aktien hält, wird alle angebotenen Aktien kaufen und damit seinen Anteil auf 4.703.813 Aktien (9,99% der ausstehenden Aktien) erhöhen. Der Erlös aus den Hard-Dollar-Aktien wird kanadische Vermögenswerte und Unternehmenszwecke voranbringen, während die Flow-Through-Aktien die kanadischen Explorationskosten in den Nordwest-Territorien bis Dezember 2025 finanzieren werden. Es wird erwartet, dass das Angebot bis zum 12. November 2024 abgeschlossen wird, vorbehaltlich von Bedingungen einschließlich der Genehmigung der TSX Venture Exchange.
- Secured significant funding of $21.3 million through private placement
- Strategic investor increasing stake to 9.99%, showing confidence in company
- Funds allocated for Canadian exploration and development
- Share dilution for existing stockholders
- Single investor gaining significant ownership stake and influence
VANCOUVER, BC / ACCESSWIRE / October 23, 2024 / Li-FT Power Ltd. ("LIFT" or the "Company") (TSXV:LIFT)(OTCQX:LIFFF)(Frankfurt:WS0) is pleased to announce a non-brokered private placement consisting of (i) 2,694,895 common shares of the Company that will qualify as "flow-through shares" (within the meaning of subsection 66(15) of the Income Tax Act (Canada)) (each, a "Flow-Through Share") at a price of
A single purchaser (the "Purchaser") is expected to ultimately purchase all of common shares to be issued under the Offering as a strategic investment (the "Strategic Investment"). The Purchaser currently holds 363,918 common shares of the Company. Upon closing of the Strategic Investment, the Purchaser will own 4,703,813 common shares of the Company, representing
In connection with the Strategic Investment, the Company and the Purchaser will negotiate an investor rights agreement containing customary terms.
The gross proceed from the issue of the Hard Dollar Shares will be used to advance the Company's Canadian assets as well as for general corporate purposes. The gross proceeds from the issue of the Flow-Through Shares will be used by the Company to incur eligible "Canadian exploration expenses" that will qualify as "flow-through critical mineral mining expenditures" as such terms are defined in the Income Tax Act (Canada) (the "Qualifying Expenditures") related to the Company's projects located in the Northwest Territories, Canada on or before December 31, 2025. All Qualifying Expenditures will be renounced in favour of the subscribers effective December 31, 2024.
The closing of the Offering is expected to occur on or before November 12, 2024 and is subject to the satisfaction of certain conditions, including execution of definitive agreements, including the investor rights agreement with the proposed Purchaser and receipt of acceptance by the TSX Venture Exchange. All securities issued in connection with the Offering will be subject to a hold period of four months and one day from the date of closing, in accordance with applicable Canadian securities laws.
Canaccord Genuity acted as financial advisor to LIFT in connection with the Strategic Investment.
About LIFT
LIFT 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 potential for the discovery of buried lithium pegmatites, as well as the Cali Project in Northwest Territories within the Little Nahanni Pegmatite Group.
For further information, please contact:
Francis MacDonald Daniel Gordon
Chief Executive Officer Investor Relations
Tel: + 1.604.609.6185 Tel: +1.604.609.6185
Email: info@li-ft.com Email: daniel@li-ft.com
Website: www.li-ft.com
Cautionary Statement Regarding Forward-Looking Information
Certain statements included in this press release constitute forward-looking information or statements (collectively, "forward-looking statements"), including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", "may", "should" and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements relating to the closing of the Offering, the completion of the Strategic Investment, use of proceeds of the Offering, the timing of incurring the Qualifying Expenditures and the renunciation of the Qualifying Expenditures as well as the approval of the TSXV. These forward-looking statements and information reflect management's current beliefs and are based on assumptions made by and information currently available to the company with respect to the matter described in this new release.
Forward-looking statements involve risks and uncertainties, which are based on current expectations as of the date of this release and subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Additional information about these assumptions and risks and uncertainties is contained under "Risk Factors" in the Company's latest annual information form filed on March 27, 2024, which is available under the Company's SEDAR+ profile at www.sedarplus.ca, and in other filings that the Company has made and may make with applicable securities authorities in the future. Forward-looking statements contained herein are made only as to the date of this press release and we undertake no obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Contact Information
Francis MacDonald
CEO
francis@li-ft.com
1.604.609.6185
Daniel Gordon
Investor Relations Manager
daniel@li-ft.com
1.604.609.6185
SOURCE: Li-FT Power Ltd.
View the original press release on accesswire.com
FAQ
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