25 September 2023
September 25, 2023 – Vancouver, B.C., Li-FT Power Ltd. (“LIFT” or the “Company”) (CSE: LIFT) (OTCQX: LIFFF) (Frankfurt: WS0) is pleased to report that it has filed and obtained a receipt for a final short form base shelf prospectus (the “Base Shelf Prospectus”). The Base Shelf Prospectus was filed with the securities regulatory authorities in each of the provinces and territories of Canada (other than Québec).
The Base Shelf Prospectus permits the Company to make offerings of common shares, warrants, subscription receipts, units, or debt securities or a combination thereof (the “Securities”), up to an aggregate total of C$200 million during the 25-month period that the Base Shelf Prospectus remains effective, until October 2025.
The Base Shelf Prospectus provides the Company with financial flexibility and the capability to access capital markets quickly, when available, to fund its ongoing capital needs over the next two years. The specific terms of any offering of Securities (if any) will be set forth in one or more shelf prospectus supplement(s) to the Base Shelf Prospectus, which will be filed with the applicable Canadian securities regulatory authorities in connection with any such offering.
Each prospectus supplement will contain specific information concerning, among other matters, the Securities to be issued and the use of proceeds from any such issuance. There is no certainty that any Securities will be offered or sold under the Base Shelf Prospectus. A copy of the Base Shelf Prospectus is available on the Company's issuer profile on SEDAR+ at www.sedarplus.ca, and may also be obtained by contacting the Corporate Secretary of the Company via email at info@li-ft.com.
This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of Securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. The Securities have not been, nor will they be, registered under the United States Securities Act of 1933, as amended and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements.
Technical Report
The Company also reports that it has filed an amended restated technical report entitled " Amended and Restated NI 43-101 Technical Report on the Yellowknife Lithium Project, Northwest Territories" (the "Report") as authored by Thomas Hawkins, P.Geo, PhD, effective dated September 16, 2023 and dated September 18, 2023, on SEDAR+ at www.sedarplus.ca. The Report supersedes and replaces the previous report prepared by Mr. Hawkins as dated December 30, 2022.