LIFT Completes Combination With Winsome Resources

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VANCOUVER, British Columbia, May 21, 2026 (GLOBE NEWSWIRE) — Li-FT Power Ltd. (“LIFT” or the “Company”) (TSXV: LIFT) (OTCQX: LIFFF) (Frankfurt: WS0) is pleased to announce the successful completion of the combination with Winsome Resources Limited (“Winsome”) (ASX: WR1), as previously announced on December 15, 2025.

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The transaction adds the tier-one Adina lithium project, located in the Eeyou Istchee James Bay region of Québec, to LIFT’s portfolio and, together with the previously announced acquisition of a 75% interest in the adjacent Galinée property, creates one of the largest hard rock lithium developers in Canada. The combined Adina-Galinée project unlocks the potential to enhance scale, resource profile and project economics in the near-term.

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Pursuant to the transaction, eligible Winsome shareholders receive 0.107 of a new LIFT common share (or 0.107 of a CHESS Depository Interest (“CDI”) representing 0.107 of a LIFT common share) for each Winsome ordinary share held. All of the outstanding options in Winsome will be cancelled and Winsome optionholders will receive a specified fraction of a LIFT common share or a LIFT CDI for each option held (see the table in Section 3.7(a) of the Scheme Booklet which sets out the specified fraction of a LIFT common share or LIFT CDI provided as consideration based on the relevant tranche of Winsome options). In aggregate, 27,136,492 LIFT common shares are to be issued (25,879,073 as CDIs and 1,257,419 as common shares) to acquire 253,623,451 ordinary shares of Winsome that are currently issued and outstanding, and 722,092 LIFT common shares are to be issued (691,694 as CDIs and 30,398 as common shares) to acquire 18,288,900 options of Winsome that are currently issued and outstanding.

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Completion of the transaction follows (i) receipt by Winsome of requisite shareholder and optionholder approval in favour of the schemes of arrangement in relation to the transaction on May 5, 2026, and (ii) approval by the Supreme Court of Western Australia of such schemes of arrangement on May 11, 2026. The transaction was negotiated by LIFT and Winsome on an arms-length basis and no finder’s fee is payable by LIFT in connection with the transaction, other than certain customary investment banking advisory fees.

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In connection with the completion of the transaction, the 6,085,300 subscription receipts issued by LIFT pursuant to the financing completed and announced by LIFT on January 29, 2026 have been converted into the same number of LIFT common shares, and the net proceeds from the sale of such subscription receipts have been released from escrow to the Company.

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LIFT has also completed its admission to the official list of the Australian Securities Exchange (“ASX”). LIFT CDIs will commence trading on ASX under the ticker “LFT”, with each CDI representing one common share in LIFT. Quotation of the CDIs is “expected” to commence on Tuesday, May 26, 2026. LIFT remains listed on the TSX Venture Exchange (“TSXV”) under the symbol “LIFT”, providing the combined company with access to a broader pool of institutional and retail investors across Canada and Australia.

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Francis MacDonald, President and CEO of LIFT, commented: “The completion of the Winsome acquisition is a transformative milestone for LIFT and our shareholders. With Adina now part of our portfolio, alongside our flagship Yellowknife Lithium Project and the Galinée property, we have established a leading platform of high value spodumene assets in Canada. We welcome Winsome shareholders and employees to the combined company and look forward to advancing development across our enhanced portfolio.”