Li-FT Power Announces $21.3 Million Strategic Investment

Li-FT Power Ltd., a Canadian mineral exploration company, announced a $21.3 million non-brokered private placement. The offering will consist of 2,694,895 flow-through shares at $5.6575 each and 1,645,000 hard dollar shares at $3.65 each. A single purchaser is expected to acquire all shares, increasing their stake to 9.99% of the company's non-diluted shares.

The proceeds from hard dollar shares will support the company's Canadian ventures and general purposes, while the flow-through shares' proceeds will fund qualifying exploration expenses in the Northwest Territories. The transaction is subject to regulatory approvals and is anticipated to close by November 12, 2024.

Canaccord Genuity served as the financial advisor for this strategic investment.