Li-FT Power Ltd. ($LIFT) has closed its acquisition of a 50% interest in the Galinée property from Azimut Exploration Inc. ($AZM) in Québec, a move that strengthens the company’s presence in the region’s lithium market. The transaction, which was announced in December 2025, gives $LIFT a significant stake in the Galinée property, located adjacent to the Adina lithium deposit owned by Winsome Resources Ltd. ($WNM).
The Galinée property is a highly prospective lithium project, and $LIFT’s acquisition of a 50% interest is a strategic move to expand its portfolio of lithium assets. The property is currently being held jointly by $LIFT and SOQUEM Inc. ($SOQ), a Québec-based mining company. The proximity of the Galinée property to the Adina lithium deposit, which is one of the largest lithium deposits in the region, makes it an attractive asset for $LIFT.
The acquisition is part of $LIFT’s efforts to consolidate its position in the lithium market, which is expected to experience significant growth in the coming years due to increasing demand for electric vehicles and renewable energy storage. $LIFT’s management believes that the Galinée property has the potential to become a major lithium producer, and the company is planning to conduct further exploration and development work on the property.
The transaction has been well-received by the market, with $LIFT’s stock price increasing by 5% following the announcement. The company’s shares are listed on the TSX Venture Exchange ($TSXV) and the OTCQX ($OTCQX) under the ticker symbols $LIFT and $LIFFF, respectively. $AZM’s shares have also seen a positive reaction, with the company’s stock price increasing by 3% following the announcement.
The key terms of the transaction are as follows:
| Party | Interest Acquired | Property |
|---|---|---|
| $LIFT | 50% | Galinée property |
| $AZM | 0% | Galinée property |
| $SOQ | 50% | Galinée property |
Looking ahead, $LIFT is expected to focus on further exploration and development of the Galinée property, with the aim of bringing the project into production in the near future. The company’s management believes that the property has the potential to become a significant contributor to $LIFT’s revenue and earnings, and is planning to invest heavily in the project over the coming years.
⚡ Why it matters: The acquisition of the Galinée property by $LIFT is a significant development in the lithium market, and is expected to have a major impact on the company’s future growth and profitability.
📊 By the numbers:
50% interest in the Galinée property acquired by $LIFT
$LIFT’s stock price increased by 5% following the announcement
$AZM’s stock price increased by 3% following the announcement
The Galinée property is located adjacent to the Adina lithium deposit owned by Winsome Resources Ltd.
🔗 Source: GlobeNewswire
