Canaccord Genuity Acts as Sole Bookrunner to Li-FT Power on its $35 Million Private Placement of Charity Flow-Through Shares
Canaccord Genuity is pleased to announce that its client, Li-FT Power Ltd. (“Li-FT” or the “Company”), successfully closed its “best efforts” private placement of 2,602,500 flow-through shares (the "Flow-Through Shares”) of the Company at a price of $13.45 per Flow Through Share for gross proceeds of $35,003,625 (the “Offering”). The Offering included full exercise of the option granted to the agents to purchase up to an additional 372,000 Flow-Through Shares for additional gross proceeds of $5,003,400. Canaccord Genuity acted as sole bookrunner and lead agent to Li-FT in connection with the Offering.
The Company intends to use the proceeds from the Offering to incur exploration expenditures related to the Company’s flagship Yellowknife Lithium Project located in the Northwest Territories.
Li-FT is a mineral exploration company engaged in the acquisition, exploration, and development of lithium pegmatite projects located in Canada. The Company’s flagship project is the Yellowknife Lithium Project located in Northwest Territories. Li-FT also holds three early-stage exploration properties in Quebec, Canada with excellent potential for the discovery of lithium pegmatites, as well as the Cali Project in Northwest Territories within the Little Nahanni Pegmatite Field.
The Canaccord Genuity deal team included Matt Reimer, Thomas Tran and Tony Huang from Investment Banking, Greg Huffman and Robert Carmosino from Institutional Sales, as well as Len Sauer and Kylie Lee from Equity Capital Markets.