LIFT Enters into Binding Call Option Agreement for the Acquisition of the Renard Mine Site

24 June 2026

June 24, 2026 – Vancouver, B.C., Li-FT Power Ltd. (“LIFT” or the “Company”) (TSXV: LIFT) (ASX: LFT) (OTCQX: LIFFF) (Frankfurt: WS0) is pleased to announce that it has entered into a binding call option agreement dated June 23, 2026 (the “Option Agreement”) with Stornoway Diamonds (Canada) Inc. (“Stornoway”), 11272420 Canada Inc. (“1127 Canada”) and Deloitte Restructuring Inc. (the “Monitor”), in its capacity as monitor in the CCAA Proceedings (as defined below) pursuant to which LIFT has been granted the sole and exclusive option to acquire, at its election, the assets comprising the Renard diamond mine, processing facility and associated infrastructure (“Renard”) or all of the issued shares in the capital in Stornoway or 1127 Canada, subject to the approval of the Superior Court of Québec (the “Court”) pursuant to the Companies’ Creditors Arrangement Act (Canada)(the “CCAA”).

HIGHLIGHTS

  • The Option Agreement grants the Company the exclusive call option (the “Option”) to acquire the assets comprising Renard, (the “Assets”) or, at the election of LIFT, all issued shares in the capital in Stornoway (the 100% owner of Renard) or 1127 Canada (the 100% owner of Stornoway), subject to Court approval pursuant to the CCAA.
  • Mineral processing at Renard began in 2016. Following the commencement of the CCAA Proceedings, Stornoway completed five milling campaigns to recover and process the remaining rough diamonds and terminated its operating activities in January 2025.
  • The Renard process plant has a design capacity of 2.2Mtpa and may be amenable to process spodumene pegmatite ore from the Adina Lithium Project.
  • Renard’s process plant consists of, jaw, cone, high-pressure grinding roll, dense media separation, and ore sorting circuits compatible with spodumene concentrate production.
  • Renard holds a range of mineral processing and operating permits that may advance LIFT’s intended pathway to lithium production at a previously operating, brownfields site in Québec and facilitate growth in the Canadian EV battery supply chain.
  • Potential acquisition of Renard, in which over C$900 million of capital has been invested, could materially reduce upfront capital expenditure, project risk, and the environmental footprint at the Adina Lithium Project.

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