Li-FT to Issue 2 Million Shares Plus $1.5M Deferred Payment for Galinée Property
Li-FT Power has signed a definitive agreement to acquire Azimut Exploration's 50% interest in the Galinée lithium property, a crucial step enabling its planned takeover of Winsome Resources. This deal strengthens Li-FT's position in Quebec's lithium sector alongside Winsome's flagship Adina project.
- Li-FT to acquire Azimut's 50% stake in Galinée lithium property
- Transaction includes upfront shares, deferred payment, and 1.4% royalty
- Deal is a condition precedent to Li-FT's acquisition of 100% of Winsome Resources
- Galinée property adjacent to Winsome’s Adina Lithium project in Quebec
- No new material exploration data disclosed beyond prior announcements
Strategic Acquisition in Quebec's Lithium Belt
In a significant development for the Canadian lithium sector, Li-FT Power Ltd. has entered into a definitive project acquisition agreement with Azimut Exploration Inc. to acquire Azimut’s 50% interest in the Galinée property. This transaction, announced on 24 December 2025, is a critical condition for Li-FT’s broader plan to acquire 100% ownership of Winsome Resources, a company with a strong lithium portfolio in Quebec.
The Galinée property, located in the Eeyou Istchee James Bay region of Quebec, is adjacent to Winsome’s flagship Adina Lithium project. The proximity of these assets offers potential operational synergies and consolidates lithium exploration efforts in a low-risk mining jurisdiction renowned for its stable regulatory environment.
Deal Structure and Consideration
Under the terms of the agreement, Azimut will receive 2 million common shares of Li-FT as upfront consideration, alongside a 1.4% net smelter return royalty on the Galinée property. Additionally, a deferred payment of $1.5 million is payable either in cash or Li-FT shares, contingent on the completion of an economic study or within 18 months. This structure balances immediate equity participation with future value realization tied to project advancement.
The transaction awaits customary closing conditions, including TSX Venture Exchange approval for the issuance and listing of Li-FT shares. The deal’s completion will enhance Li-FT’s lithium asset base, complementing its flagship Yellowknife Lithium Project and other early-stage properties in Quebec.
Implications for Winsome Resources and the Lithium Market
For Winsome Resources, the acquisition by Li-FT represents a pivotal step in its corporate evolution. The binding scheme implementation deed announced earlier in December 2025 outlines Li-FT’s intention to acquire all issued securities of Winsome, subject to conditions. The consolidation under Li-FT’s ownership could unlock greater capital access and operational efficiencies for the combined lithium portfolio.
Notably, Winsome’s Adina project boasts a substantial mineral resource estimate of 78 million tonnes at 1.15% lithium oxide, positioning it as a tier-one asset with a projected 20-plus year mine life. The addition of the Galinée property’s high-grade lithium-bearing pegmatites further enhances the strategic value of this regional lithium hub.
Looking Ahead
While no new exploration data materially affecting resource estimates was disclosed, the agreement sets the stage for forthcoming economic studies and exploration updates. Investors will be watching closely for regulatory approvals and the successful completion of the scheme implementation deed, which together will define the future trajectory of lithium development in this part of Quebec.
Bottom Line?
Li-FT’s acquisition of Azimut’s Galinée stake is a decisive move that could reshape lithium development in Quebec, with market watchers awaiting regulatory green lights and economic study results.
Questions in the middle?
- How will the deferred payment terms impact Li-FT’s capital structure and shareholder dilution?
- What are the timelines and expected outcomes for the economic study on the Galinée property?
- How will the integration of Winsome’s and Li-FT’s assets influence project development and financing strategies?
