Vancouver, British Columbia – December 30, 2022 (Newsfile Corp.) (Investorideas.com Newswire) Li-FT Energy Ltd. (CSE: LIFT) (FSE: WS0) (“Li-FT” or the “Firm”) is happy to announce that, additional to its press launch of November 23, 2022, it has now accomplished the acquisition of 1361516 B.C. Ltd. (the “Goal”), as contemplated by an amalgamation settlement dated November 22, 2022 between the Firm, the Goal and a completely owned subsidiary of the Firm, 1386798 B.C. Ltd. (“Subco”). The Goal is a non-public firm holding a 100% curiosity within the Yellowknife Lithium Challenge (the “Challenge”).
The acquisition of the Goal (the “Transaction”) was accomplished by means of a three-corner amalgamation below the Enterprise Firms Act (British Columbia), whereby, amongst different issues:
- Subco, a subsidiary created for the needs of finishing the Transaction, was amalgamated with and into the Goal, with the amalgamated entity, Yellowknife Lithium Ltd., turning into a completely owned subsidiary of the Firm, and;
- every excellent share of the Goal (a “Goal Share”) was exchanged for 0.60 of a standard shares of Li-FT (a “Li-FT Share”), with the Transaction ensuing within the issuance of 18 million Li-FT Shares, every at a deemed worth of $8.59 per share.
No new insiders have been created because of the Transaction. No finder’s charges have been paid in reference to the Transaction.
Francis MacDonald, CEO of Li-FT, feedback, “We’re very joyful to have accomplished the acquisition of the Yellowknife Lithium Challenge which is a transformative second for Li-FT. We look ahead to materially advancing the venture in 2023.”
Li-FT is a mineral exploration firm engaged within the acquisition, exploration, and growth of mineral properties, particularly lithium pegmatite initiatives situated in Canada. The Firm at present controls 228,237 hectares of floor at its Rupert, Pontax, and Moyenne Tasks that are potential for laborious rock lithium deposits.
For additional info, please contact:
Chief Government Officer
Tel: Canada: +1.778.322.8705
Tel: Germany: +49.1522.1073741
Web site: www.li-ft.com
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