Mr. Francis MacDonald reports

LI-FT ANNOUNCES CLOSING OF C$48.1 MILLION PRIVATE PLACEMENT FINANCING, INCLUDING FULL EXERCISE OF THE UNDERWRITERS' OPTION

Li-FT Power Ltd. has closed its previously announced offerings outlined in its joint news release with Winsome Resources Ltd. issued on Dec. 15, 2025 (Perth, Australia time) and its news release issued on Jan. 22, 2026.

Pursuant to the offerings, the company raised aggregate gross proceeds of approximately $48.1-million, which included the full exercise by the underwriters (as defined below) of their options to sell up to an additional $6.5-million aggregate of subscription receipts and shares (each as defined below), as follows.

The subscription receipt offering:

• 3,876,000 flow-through (FT) subscription receipts of Li-FT at a price of $6.88 for gross proceeds of $26,666,880;
• 2,209,300 subscription receipts of Li-FT at a price of $4.30 for gross proceeds of $9,499,990.

The common share offering:

• 775,200 flow-through common shares of Li-FT at a price of $6.45 for gross proceeds of $5,000,040;
• 1,627,800 common shares of Li-FT at the non-flow-through (NFT) issue price for gross proceeds of $6,999,540.

The offerings were led by Canaccord Genuity Corp., as lead underwriter and sole-bookrunner, on behalf of a syndicate that included Cormark Securities Inc. and SCP Resource Finance LP. The company paid the underwriters a cash commission of 5.0 per cent of the gross proceeds of the offerings, other than in respect of certain purchasers on a president's list for which the underwriters received a reduced or nil commission.

The aggregate gross proceeds from the sale of the subscription receipts, less 50 per cent of the underwriters' commission in connection with the subscription receipt offering and certain expenses of the subscription receipt offering, will be held in escrow pending the completion by the company of its proposed acquisition of Winsome.

The aggregate gross proceeds from the sale of the FT subscription receipts (upon escrow release) will be used to incur eligible Canadian exploration expenses that qualify as flow-through critical mineral mining expenditures as both terms are defined in the Income Tax Act (Canada) related to Adina-Galinee in Quebec on or before Dec. 31, 2027. The net proceeds from the sale of the NFT subscription receipts (upon escrow release) will be used towards Adina-Galinee and for general corporate purposes.

The aggregate gross proceeds from the sale of the FT shares will be used to incur qualifying expenditures on Li-FT's Yellowknife lithium project in Northwest Territories, the Galinee property (upon acquisition) and Li-FT's other exploration properties on or before Dec. 31, 2027. The net proceeds from the sale of the NFT shares will be used towards Li-FT's Yellowknife lithium project, the Galinee property (upon acquisition) and general corporate purposes.

For further details as to the offerings and the related proposed transactions by which the company will acquire Winsome, which includes the Adina lithium property, and an aggregate 75-per-cent interest in the Galinee property, please refer to the initial news release and the company's news release dated Dec. 24, 2025.

The offerings remain subject to receipt by the company of final approval of the TSX Venture Exchange.

The subscription receipts and shares issued pursuant to the offerings, including the common shares of the company underlying the subscription receipts, are subject to a statutory hold period of four months and one day following the closing of the offerings.

Certain directors and officers of the company participated in the offerings. Such insider participation in the offerings constituted a related party transaction within the meaning of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions, for which the company was exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to Sections 5.5(b) and 5.7(1)(a) thereof, respectively. The company did not file a material change report 21 days before closing the offerings as such participation by such insiders was not settled until shortly prior to closing and the company wished to close the offerings as expeditiously as possible for sound business reasons. The material change report to be filed by the company in connection with the closing of the offerings will contain additional details with respect to such insider participation.

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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