Li-FT Power Ltd.

Li-FT Power Ltd. is a junior lithium exploration company headquartered in Vancouver, Canada, operating primarily in Canada. The company's portfolio consists of 2 advanced exploration projects. Key assets include Yellowknife. The company is a mineral exploration entity focused on the acquisition and development of early-stage projects. Its business model relies on raising capital through equity financings, particularly tax-advantaged flow-through shares, to fund exploration activities, as it currently generates no operating revenue. The organization leverages external expertise, utilizing consultants and contractors for specialized skills in geology, drilling, and logistical planning for exploration programs. A key operational characteristic is the evaluation of processing potential early in the exploration cycle, demonstrated by comprehensive metallurgical test work. This testing includes heavy liquid separation, dense media separation, and flotation to assess beneficiation performance and the potential to produce high-grade concentrates. The competitive landscape involves competing with more capitalized entities for attractive properties and investment capital. The enterprise's approach involves systematic exploration to de-risk projects and advance them toward economic viability assessments. Risk management includes diversifying exploration targets across multiple pegmatite complexes to mitigate geological uncertainty.

Strategic priorities are centered on advancing mineral properties through systematic exploration, including infill and resource development drilling. A primary objective is to progress key assets by completing continuous metallurgical test work and collecting comprehensive environmental baseline data to support future economic assessments and permitting. The capital allocation approach is heavily weighted towards funding exploration through the issuance of equity, with a notable reliance on flow-through share offerings to finance qualifying expenditures in a tax-efficient manner. Growth is pursued through both organic exploration on existing land packages and strategic consolidation of adjacent properties. This is evidenced by multiple acquisitions and option agreements to expand the company's footprint in prospective areas. The long-term goal is to delineate economically viable deposits. The exploration strategy involves a multi-faceted approach, combining geological targeting models derived from 3D inversions of magnetic data with surface geochemistry, mapping, and prospecting to identify and prioritize drill targets under cover.

Executive leadership is headed by a Chief Executive Officer with extensive exploration experience, including a previous role as an executive vice president of exploration at Kenorland Minerals. The board of directors is composed of 7 members, of whom 4 are considered independent, providing a majority of independent oversight. Board governance is structured through several committees, including an Audit Committee, a Compensation Committee, and a Corporate Governance and Nominating Committee, which ensure adherence to regulatory and ethical standards. The Audit Committee consists of 4 directors, 3 of whom are independent and all are financially literate, with one member being a retired partner from PricewaterhouseCoopers. The governance framework includes formal procedures for managing conflicts of interest, as several directors and officers are involved with other natural resource companies. The management team's philosophy is rooted in leveraging deep industry experience, with key personnel having held senior roles at companies such as Millennial Lithium Corp., Integra Resources Corp., and McCarthy Tetrault LLP, bringing expertise in project finance, development, and legal affairs.

The organization's approach to sustainability is demonstrated through proactive engagement with Indigenous communities and a focus on environmental due diligence. A formal exploration agreement was established with the Yellowknives Dene First Nation on June 6, 2023, to govern exploration activities. In response to community concerns regarding a culturally significant trail, the company temporarily paused drilling in a specific area to collaborate on mitigation strategies, showcasing a commitment to partnership. Environmental stewardship is integrated into operations through compliance with Type A Land Use Permits and Type B Water Licences, which mandate adherence to project-specific social and environmental management plans. The company is actively conducting multi-year environmental baseline data collection to benchmark against potential project impacts. A Chief Sustainability Officer was appointed on June 1, 2023, to lead these initiatives. These actions reflect a commitment to responsible exploration practices and building constructive relationships with local stakeholders.

The corporate structure includes 2 wholly-owned operational subsidiaries, Yellowknife Lithium Ltd. and Erex International Ltd., which hold the company's mineral interests. A key structural element is an investor rights agreement established on November 14, 2024, with a strategic investor, granting participation rights in future financings to maintain pro rata ownership and the right to nominate a director if ownership exceeds a 10% threshold. The company has actively pursued growth through transactions, including the acquisition of 136, the parent of Erex, via an amalgamation on November 22, 2022, and the purchase of a project portfolio from North Arrow Minerals Inc. in a transaction dated December 17, 2024. An operator services agreement was entered into with Kenorland Minerals Ltd. on June 11, 2021, engaging them to manage exploration on certain claims. The company also holds an option, dated July 20, 2022, to acquire up to a 70% interest in a project from Harfang Exploration Inc., demonstrating a strategy of using joint ventures and partnerships to advance assets.