Investments

LIFT) Completes Acquisition of the Yellowknife Lithium Challenge

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:

  1. 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;
  2. 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.”

About Li-FT

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:

Francis MacDonald
Chief Government Officer
Tel: Canada: +1.778.322.8705

Tel: Germany: +49.1522.1073741
E-mail: francis@li-ft.com
Web site: www.li-ft.com

Cautionary Assertion Relating to Ahead-Wanting Data

Sure statements included on this press launch represent forward-looking info or statements (collectively, “forward-looking statements”), together with these recognized by the expressions “anticipate”, “imagine”, “plan”, “estimate”, “count on”, “intend”, “could”, “ought to” and comparable expressions to the extent they relate to the Firm or its administration. The forward-looking statements should not historic information however mirror present expectations relating to future outcomes or occasions. This press launch comprises forward-looking statements. These forward-looking statements are primarily based on present expectations and numerous estimates, elements and assumptions and contain recognized and unknown dangers, uncertainties and different elements. Ahead-looking statements should not a assure of future efficiency and contain dangers, uncertainties and assumptions that are tough to foretell. Elements that might trigger the precise outcomes to vary materially from these in forward-looking statements embody the continued availability of capital and financing, and common financial, market or enterprise circumstances, together with the results of COVID-19. Ahead-looking statements contained on this press launch are expressly certified by this cautionary assertion. These statements shouldn’t be learn as ensures of future efficiency or outcomes. Such statements contain recognized and unknown dangers, uncertainties and different elements that will trigger precise outcomes, efficiency or achievements to be materially totally different from these implied by such statements. Though such statements are primarily based on administration’s cheap assumptions, there might be no assurance that the statements will show to be correct or that administration’s expectations or estimates of future developments, circumstances or outcomes will materialize. The Firm assumes no duty to replace or revise forward-looking info to mirror new occasions or circumstances until required by legislation. Readers shouldn’t place undue reliance on the Firm’s forward-looking statements.

Neither the Canadian Securities Alternate (the “CSE”) nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the CSE) accepts duty for the adequacy or accuracy of this launch.

Extra Data:

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