LI-FT Power raises C$20 million in share offering to fund Renard diamond‑mine option

LI-FT Power Ltd. (ASX:LFT) announced a qualified share offering of 6,900,000 common shares at C$2.90 per share, expected to generate gross proceeds of C$20,010,000. Approximately C$18,000,000 of the net proceeds will be used for the initial care‑and‑maintenance payment tied to the company’s exclusive option to acquire the Renard diamond mine, processing facility and related infrastructure in Quebec. The Renard option, approved by the Superior Court of Quebec, requires authorisation from the Ministère des Ressources naturelles et des Forêts by 3 Oct 2026 for the postponement of rehabilitation work, and the release of a C$12 million option fee held in trust.

The balance of about C$409,500 will support working capital and general corporate purposes. The underwriting syndicate, led by Canaccord Genuity Corp., also holds an over‑allotment option to purchase up to an additional 1,035,000 shares, potentially raising up to C$3,001,500 more. The transaction remains subject to review and final approval by the TSX Venture Exchange, and further financing will be needed for subsequent years of care‑and‑maintenance and possible exercise of the option.