LIFT quadruples the size of the Cali Property through staking
Li-FT Power (TSXV: LIFT, OTCQX: LIFFF) announced a significant expansion of its Cali Project by staking an additional 9,681 hectares in the Little Nahanni Pegmatite District, Northwest Territories, Canada. The new claims host outcropping spodumene pegmatites, continuing the Cali dyke swarm. This expansion follows the Government of Canada’s approval of amendments to the Sahtú Land Use Plan. CEO Francis MacDonald emphasized the cost-effectiveness of staking for increasing land position and potential project size. Additionally, LIFT terminated a previous agreement with Infinity Stone Ventures Corp. for the Shorty West Lithium Claim and entered a new agreement to acquire it in exchange for 12,000 common shares, pending TSX Venture Exchange approval. Lastly, LIFT granted 7,544 Deferred Share Units (DSUs) to independent directors, valued at $2.65 per DSU, as part of its Share Incentive Plan.
Li-FT Power (TSXV: LIFT, OTCQX: LIFFF) ha annunciato un'importante espansione del suo Progetto Cali attraverso l'inserimento di ulteriori 9.681 ettari nel Distretto di Pegmatiti di Little Nahanni, Territori del Nord-Ovest, Canada. I nuovi diritti minerari ospitano pegmatiti di spodumene affioranti, proseguendo il gruppo di dykes del Cali. Questa espansione segue l'approvazione da parte del Governo del Canada delle modifiche al Piano di Utilizzo del Territorio Sahtú. Il CEO Francis MacDonald ha enfatizzato l'efficacia in termini di costi dell'inserimento di nuovi diritti per aumentare la posizione terriera e le potenzialità del progetto. Inoltre, LIFT ha rescisso un precedente accordo con Infinity Stone Ventures Corp. per il diritto minerario di Shorty West Lithium e ha stipulato un nuovo accordo per acquisirlo in cambio di 12.000 azioni ordinarie, in attesa di approvazione dalla TSX Venture Exchange. Infine, LIFT ha conferito 7.544 Unità di Azioni Differite (DSU) a direttori indipendenti, valutate a $2,65 per DSU, come parte del suo Piano di Incentivazione delle Azioni.
Li-FT Power (TSXV: LIFT, OTCQX: LIFFF) anunció una expansión significativa de su Proyecto Cali al adquirir 9.681 hectáreas adicionales en el Distrito de Pegmatitas de Little Nahanni, Territorios del Noroeste, Canadá. Los nuevos reclamos albergan pegmatitas de espodumena aflorantes, continuando el enjambre de diques de Cali. Esta expansión sigue la aprobación por parte del Gobierno de Canadá de las enmiendas al Plan de Uso de la Tierra de Sahtú. El CEO Francis MacDonald enfatizó la efectividad de costos de adquirir terrenos para aumentar la posición de la tierra y el tamaño potencial del proyecto. Además, LIFT rescindió un acuerdo previo con Infinity Stone Ventures Corp. para el Reclamo de Litio Shorty West y firmó un nuevo acuerdo para adquirirlo a cambio de 12.000 acciones comunes, pending aprobación de la TSX Venture Exchange. Por último, LIFT otorgó 7.544 Unidades de Acciones Diferidas (DSUs) a directores independientes, valoradas en $2.65 por DSU, como parte de su Plan de Incentivos Accionarios.
Li-FT Power (TSXV: LIFT, OTCQX: LIFFF)는 캐나다 북서부의 리틀 나한니 페그마타이트 지구에서 9,681헥타르를 추가로 확보하여 칼리 프로젝트의 중요한 확장을 발표했습니다. 새로운 주장들은 칼리 다이크 무리를 이어주는 스포듐엔 페그마타이트가 발굴되어 있습니다. 이번 확장은 캐나다 정부가 사투 토지 이용 계획 개정안을 승인한 뒤 이뤄졌습니다. CEO 프란시스 맥도날드는 토지 위치를 증가시키고 프로젝트의 잠재적 크기를 확대하기 위해 staking의 비용 효율성을 강조했습니다. 또한, LIFT는 인피니티 스톤 벤처스 코퍼레이션과의 이전 합의를 종료하고, TSX 벤처 거래소의 승인을 기다리며 12,000주 일반 주식과 교환하여 셔티 웨스트 리튬 클레임을 인수하는 새로운 합의를 체결했습니다. 마지막으로, LIFT는 독립 이사들에게 7,544개의 이연주식단위(DSU)를 $2.65의 가치로 부여하며 주식 인센티브 계획의 일환으로 진행했습니다.
Li-FT Power (TSXV: LIFT, OTCQX: LIFFF) a annoncé une expansion significative de son Projet Cali en ajoutant 9 681 hectares supplémentaires dans le district de pegmatites de Little Nahanni, dans les Territoires du Nord-Ouest, Canada. Les nouvelles revendications abritent des pegmatites de spodumène à l'affleurement, prolongeant ainsi le groupe de diques de Cali. Cette expansion fait suite à l'approbation par le gouvernement du Canada des modifications au Plan d'utilisation des terres de Sahtú. Le PDG Francis MacDonald a souligné l'efficacité en termes de coûts de la revendication pour accroître la position foncière et la taille potentielle du projet. De plus, LIFT a résilié un accord précédent avec Infinity Stone Ventures Corp. pour la revendication de lithium de Shorty West et a conclu un nouvel accord pour l'acquérir en échange de 12 000 actions ordinaires, sous réserve de l'approbation de la Bourse de croissance de TSX. Enfin, LIFT a accordé 7 544 unités d'actions différées (DSU) à des directeurs indépendants, évaluées à 2,65 $ par DSU, dans le cadre de son Plan d'incitation à l'action.
Li-FT Power (TSXV: LIFT, OTCQX: LIFFF) gab eine bedeutende Erweiterung seines Cali-Projekts bekannt, indem 9.681 Hektar im Little Nahanni Pegmatite District, Nordwest-Territorien, Kanada, zusätzlich beansprucht wurden. Die neuen Ansprüche enthalten anstehenden Spodumen-Pegmatiten und setzen den Cali-Dike-Schwarm fort. Diese Expansion folgt der Genehmigung von Änderungen des Sahtú-Landnutzungsplans durch die Regierung von Kanada. CEO Francis MacDonald betonte die Kosteneffektivität des Stakeings zur Erhöhung der Landposition und des potenziellen Projektumfangs. Darüber hinaus hat LIFT eine frühere Vereinbarung mit Infinity Stone Ventures Corp. bezüglich des Shorty West Lithium Claims beendet und eine neue Vereinbarung zur Übernahme getroffen, die 12.000 Stammaktien im Austausch für die Genehmigung der TSX Venture Exchange vorsieht. Schließlich gewährte LIFT 7.544 Deferred Share Units (DSUs) an unabhängige Direktoren, die mit 2,65 $ pro DSU bewertet werden, im Rahmen ihres Aktienanreizplans.
- Acquired an additional 9,681 hectares at the Cali Project, increasing land position and potential project size.
- Newly staked claims contain outcropping spodumene pegmatites, continuing the known Cali dyke swarm.
- CEO emphasized staking as the most cost-effective method for land acquisition.
- Entered a new agreement to acquire the Shorty West Lithium Claim, pending TSX approval.
- Termination of previous Shorty West Lithium Claim agreement with Infinity Stone Ventures Corp.
VANCOUVER, British Columbia, Sept. 03, 2024 (GLOBE NEWSWIRE) -- Li-FT Power Ltd. (“LIFT” or the “Company”) (TSXV: LIFT) (OTCQX: LIFFF) (Frankfurt: WS0) is pleased to report that the Company has increased its land position at the Cali Project by staking an additional 9,681 hectares of contiguous claims within the Little Nahanni Pegmatite District, Northwest Territories, Canada. The recently staked claims have outcropping spodumene pegmatites which are the continuation of Cali dyke swarm that LIFT has defined to date.
Lands to the northwest of LIFT’s current tenure became available following the Government of Canada’s approval of an amendment to the Sahtú Land Use Plan (the Nááts'ı̨hch’oh Amendments) in June of 2024. The amendment package allows new staking to be completed in the area and was previously approved by the Sahtú Secretariat Incorporated and Government of the Northwest Territories in 2019.
Figure 1 – Location of LIFT’s Cali Lithium Project (CLP). The CLP is located in the Mackenzie Mountains along the Northwest Territories-Yukon border. The area is accessible by road and is located ~850 kilometers from rail in Fort Nelson, British Columbia.
Figure 2 – Location of the newly staked claims to the northwest of LIFT’s existing outcropping lithium pegmatites on the Cali Project.
Francis MacDonald, CEO of LIFT comments, “Acquiring new areas through staking is the most cost-effective way to increase a company’s land position. The newly staked ground has outcropping spodumene deposits that are continuations of our existing deposits and increases the overall size potential of the Cali Project”.
LIFT Provides Update on Acquisition of Shorty West Lithium Claim
LIFT announces that at the request of Infinity Stone Ventures Corp., it has terminated the mineral property purchase agreement dated July 17, 2024 regarding the Shorty West Lithium mineral claim (the “Claim”). In connection with the termination, beneficial ownership of the Claim, which is adjacent to the Company’s Yellowknife Lithium Project, was transferred to an arm’s length private entity. The Company has now entered into a mineral property purchase agreement dated August [16] 2024 with that entity to acquire the Claim in consideration of the issuance 12,000 common shares, which is the same consideration which was offered to Infinity Stone. The shares, once issued, will be subject to applicable resale restrictions under Canadian securities laws. The completion of the acquisition is subject to the approval of the TSX Venture Exchange. No finder’s fees are payable in connection with the acquisition.
LIFT Announces Issuance of DSUs
The Company announces that it has granted 7,544 deferred share units (“DSUs”) to certain independent directors of the Company in lieu of interim director fees previously paid in cash, at a fair market value of
Qualified Person
The disclosure in this news release of scientific and technical information regarding LIFT’s mineral properties has been reviewed and approved by Ron Voordouw, Ph.D., P.Geo., Partner, Director Geoscience, Equity Exploration Consultants Ltd., and a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) and member in good standing with the Northwest Territories and Nunavut Association of Professional Engineers and Geoscientists (NAPEG) (Geologist Registration number: L5245).
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 Chief Executive Officer Tel: + 1.604.609.6185 Email: info@li-ft.com Website: www.li-ft.com | Daniel Gordon Investor Relations Tel: +1.604.609.6185 Email: investors@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. 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 and Uncertainties" 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.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/3bede764-9946-44b6-809e-8080267d00b8
https://www.globenewswire.com/NewsRoom/AttachmentNg/8ea181b6-2589-4940-abac-912beb3e3df5
FAQ
What recent expansion did Li-FT Power make to its Cali Project?
What geological formations are included in Li-FT Power's newly staked claims?
Why did Li-FT Power's CEO emphasize staking for land acquisition?
What was the outcome of Li-FT Power's agreement with Infinity Stone Ventures Corp. regarding the Shorty West Lithium Claim?
What are Deferred Share Units (DSUs) granted by Li-FT Power?
