News Summary
The most recent news (December 24, 2025) confirms the execution of a definitive project acquisition agreement with Azimut Exploration to acquire a 50% interest in the Galinée property. This follows the transformative announcement on December 14, 2024, where Li-FT Power (LIFT) agreed to a “Scheme of Arrangement” to merge with Winsome Resources (WR1). Li-FT is effectively acquiring Winsome in a share-exchange deal (0.107 LIFT shares for every 1 Winsome share) and concurrently acquiring a 75% total interest in the Galinée property (50% from Azimut, 25% from SOQUEM). To fund the combined entity, LIFT announced a $40 million CAD concurrent financing consisting of flow-through and non-flow-through units.
Material Impact
This sequence of events is a “Game Changer” for Li-FT Power.
– Scale: The combination of Winsome’s Adina project (61.4 Mt @ 1.14% Li2O Indicated) and Li-FT’s Yellowknife project (50.4 Mt @ 1.00% Li2O Inferred) creates one of the largest hard-rock lithium resource bases in North America.
– District Consolidation: By acquiring the Galinée property, which is adjacent to Adina, LIFT removes artificial property boundaries that previously constrained the development of the Adina-Galinée spodumene system.
– Financial Strength: The $40 million financing provides a significant cash runway to advance both the Quebec and NWT assets simultaneously, mitigating the “junior explorer” risk of constant dilutive micro-raises.
– Management Upgrade: The appointment of Anthony Tse (former CEO of Galaxy Resources) as Executive Chairman in July 2025 was a precursor to this M&A activity, signaling a shift from exploration-only to major project development and M&A.
Catalysts
– Winsome Shareholder Vote: Expected in early April 2026. This is the primary hurdle for the merger.
– Court Approvals: Australian court approvals for the Scheme of Arrangement.
– Financing Closing: The $40 million CAD concurrent offering is expected to close around January 20, 2026.
– Drill Results: Continued results from the 2025 Yellowknife program (Shorty and Nite dikes) and any reconnaissance drilling at Galinée.
– ASX Listing: LIFT intends to list CDIs on the ASX as part of the Winsome transaction, which may provide access to a broader pool of lithium-focused institutional capital.
Materiality Conclusion
The move from a pure-play explorer to a multi-asset developer with over 110 million tonnes of combined lithium resources is fundamentally transformative. The definitive agreement with Azimut is the final legal brick in a strategic wall that consolidates the Adina-Galinée district.
