An anonymous director reports

LIFT ANNOUNCES MARKETED PUBLIC OFFERING

Li-FT Power Ltd. has commenced a marketed best-effort public offering of up to 1,179,500 common shares of the company that will qualify as flow-through shares (within the meaning of Subsection 66(15) of the Income Tax Act (Canada)) at a price of $6.05 per flow-through share for aggregate gross proceeds of up to $7,135,975.

The public offering is being conducted through a syndicate of agents led by Canaccord Genuity Corp.

The company is also undertaking a concurrent non-brokered private placement of up to 689,660 traditional flow-through shares at a price of $4.35 per non-brokered flow-through share for gross proceeds of up to $3,000,021. The non-brokered flow-through shares purchased pursuant to the private placement will be issued on a prospectus-exempt basis and subject to a statutory hold period.

The public offering will be conducted pursuant to the company's Canadian base shelf prospectus dated Dec. 22, 2023. A prospectus supplement relating to the public offering will be filed in each of the provinces and territories of Canada, except the province of Quebec, and may be offered in the United States on a private placement basis pursuant to an exemption from the registration requirements of the U.S. Securities Act of 1933, as amended, and applicable state securities laws, and certain other jurisdictions outside of Canada and the United States. The base shelf prospectus is available and the prospectus supplement will be available under the company's profile on SEDAR+.

The gross proceeds of the public 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, 2025. All qualifying expenditures will be renounced in favour of the subscribers effective Dec. 31, 2024. The gross proceeds of the non-brokered offering will be used by the company to incur eligible Canadian exploration expenses (as such term is 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, 2025.

It is anticipated that closing of the public offering and the non-brokered offering will occur on or about March 27, 2024, or such other date or dates as the company and the agents may agree. The public offering and the non-brokered offering are subject to the satisfaction of certain conditions, including receipt of all applicable regulatory approvals, including the approval of the TSX Venture Exchange.

About Li-FT Power Ltd.

Li-FT Power 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 Power 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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