Li-FT Power Ltd. (CNSX:LIFT) agreed to acquire 1361516 B.C. Ltd. for approximately CAD 190 million on November 22, 2022. Li-FT Power will acquire all of the issued and outstanding shares of 1361516 B.C. 1386798 B.C. Ltd. is a company created by Li-FT Power for facilitating the transaction. As consideration Li-FT will exchange each common shares of 1361516 B.C. for 0.60 of a common shares of Li-FT share.

It is anticipated that 18 million Li-FT Shares, at a deemed price of CAD8.59 per share, will be issued pursuant to the Transaction based on the current capital structure of the 1361516 B.C. Ltd. 1361516 B.C. Ltd. holds 100% interest in the Yellowknife Lithium Project. Post the transaction, The name of Amalco shall be " Yellowknife Lithium Ltd." or such other name as agreed to by the Parties. The transaction is subject to 1361516 shareholders approval, regulatory and third part approval, holders of not more than 2.0% of the issued and outstanding NumCo Shares shall have exercised their Dissent Rights.

Shauna Hartman of Armstrong Simpson acted as legal advisor to Li-FT. Brian Lindsay of DuMoulin Black LLP acted as legal advisor to 1361516.