LIFT closes C$23 million public offering

LIFT Closes C$23 Million Public Offering

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/

VANCOUVER, British Columbia, Aug. 12, 2026 (GLOBE NEWSWIRE) -- Li-FT Power Ltd. (“LIFT” or the “Company”) (TSXV: LIFT) (ASX: LFT) (OTCQX: LIFFF) (Frankfurt: WS0) is pleased to announce that it has completed its previously announced “bought deal” public offering of 7,935,000 common shares of the Company (the “Offered Shares”), which includes the exercise in full of the over-allotment option, at a price of C$2.90 per Offered Share for gross proceeds of C$23,011,500 (the “Offering”).

The Offering was conducted by a syndicate of underwriters led by Canaccord Genuity Corp., as lead underwriter and sole bookrunner, and including BMO Capital Markets, Raymond James Ltd., ATB Cormark Capital Markets and SCP Resource Finance LP. The underwriters received a cash commission equal to 5.0% of the aggregate gross proceeds of the Offering, other than on certain president’s list orders on which a reduced cash commission of 2.5% was paid.

The Company intends to use the net proceeds from the Offering to fund the estimated care and maintenance costs for the first year of the Renard option period under the Renard option agreement and for working capital, as described in the Company’s prospectus supplement dated August 6, 2026 to the Company’s short form base shelf prospectus dated November 14, 2025.

An executive of the Company participated in the Offering. Such insider participation in the Offering constituted a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”), for which the Company was exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to sections 5.5(a) and 5.7(1)(a) thereof, respectively. The Company did not file a material change report 21 days before closing the Offering as such participation by such insider was not settled until shortly prior to closing and the Company wished to close the Offering as expeditiously as possible for sound business reasons. The material change report to be filed by the Company in connection with the closing of the Offering will contain additional details with respect to such insider participation.

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or the securities laws of any state of the United States, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of these securities in the United States or in any jurisdiction in which such offer, solicitation or sale is not permitted.