Mr. Francis MacDonald reports

LI-FT CLOSES $12.4 MILLION PUBLIC OFFERING

Li-FT Power Ltd. has closed the previously announced overnight marketed public offering of 1,437,500 common shares of the company issued on a flow-through (FT) basis at a price of $8.65 per flow-through share. The offering generated aggregate gross proceeds of $12,434,375, which included the full exercise of the option granted to the agents to sell up to an additional 187,500 flow-through shares. The flow-through shares will qualify as flow-through shares (within the meaning of Subsection 66(15) of the Income Tax Act (Canada)).

The offering was led by Canaccord Genuity Corp. on behalf of a syndicate of agents, including SCP Resource Finance LP, Scotia Capital Inc. and Beacon Securities Ltd.

The gross proceeds of the offering will be used by the company to incur eligible Canadian exploration expenses that will qualify as flow-through critical mineral mining expenditures, as such terms are defined in the Income Tax Act (Canada), related to the company's Yellowknife lithium project located in the Northwest Territories, Canada, on or before Dec. 31, 2024. All qualifying expenditures will be renounced in favour of the subscribers, effective Dec. 31, 2023.

The offering was completed pursuant to a prospectus supplement dated Nov. 13, 2023, to the company's Canadian base shelf prospectus dated Sept. 21, 2023. The base shelf prospectus and the prospectus supplement are available under the company's profile on SEDAR+.

In connection with the offering, the company paid to the agents a cash commission of 5 per cent of the gross proceeds from the offering.

About Li-FT Power Ltd.

Li-FT is a mineral exploration company engaged in the acquisition, exploration and development of lithium pegmatite projects located in Canada. The company's flagship project is the Yellowknife lithium project, located in Northwest Territories, Canada. Li-FT also holds three early-stage exploration properties in Quebec, Canada, with excellent potential for the discovery of buried lithium pegmatites, as well as the Cali project in Northwest Territories within the Little Nahanni pegmatite group.

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