Li-FT Power (TSX-V:LIFT) has completed a previously announced C$23 million ($23.4 million) public offering to fund care and maintenance costs at its Renard Diamond Project option in Québec, Canada.
The company issued 7.9 million shares at C$2.90 each through a bought deal underwriting led by Canaccord Genuity, which included the full exercise of the overallotment option.
The underwriting syndicate — which also included BMO Capital Markets, Raymond James, ATB Cormark Capital Markets, and SCP Resource Finance — received a 5% cash commission on gross proceeds, reduced to 2.5% on certain president’s list orders.
Net proceeds will fund estimated care and maintenance costs for the first year of the Renard option period alongside general working capital requirements.
An unnamed executive also participated in the offering, constituting a related party transaction.
In June 2026, LIFT entered into a binding option agreement to acquire the Renard diamond mine, processing plant, and associated infrastructure.
Renard is located approximately 60km south of LIFT’s Adina Lithium Project within the Eeyou Istchee James Bay region. Repurposing the site, which has received over C$900 million in prior investment, aims to evaluate converting the plant to process spodumene pegmatite ore.
Li-FT Power is focused on developing hard-rock lithium assets in Canada, with core assets in Québec and the Northwest Territories.
Write to Paula Fabe at Mining.com.au
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