Li-FT and Winsome Unite to Expand Canadian Lithium Frontier
Li-FT Power Ltd. has agreed to acquire Winsome Resources Limited and a controlling interest in the Galinée property, aiming to create a leading hard rock lithium developer in Canada with enhanced resource scale and market presence.
- Li-FT to acquire 100% of Winsome via scheme of arrangement
- Plan to acquire 75% interest in Galinée property adjacent to Adina lithium project
- Share exchange offers 62-68% premium to Winsome’s recent share price
- Concurrent C$40 million private placement to fund exploration and development
- Dual listing planned on TSXV and ASX to broaden investor access
Strategic Combination to Unlock Lithium Potential
In a move set to reshape the Canadian lithium landscape, Li-FT Power Ltd. (TSXV – LIFT) and Winsome Resources Limited (ASX – WR1) have entered a binding agreement for Li-FT to acquire all issued securities of Winsome. This transaction is complemented by Li-FT’s intention to secure a 75% interest in the Galinée property, which lies adjacent to Winsome’s flagship Adina lithium project in Québec.
The combined assets, referred to as Adina-Galinée, are expected to significantly enhance the scale and economics of lithium resources in the region. The Adina deposit alone boasts a substantial mineral resource estimate, and the addition of Galinée is interpreted to extend this mineralization, potentially increasing open-pittable resources and project viability.
Premium Offer and Shareholder Support
Winsome shareholders are set to receive 0.107 Li-FT shares or CHESS Depository Interests (CDIs) for each Winsome share held, reflecting an implied offer price of A$0.501 per share. This represents a notable premium of 62% to the closing price on December 8, 2025, and 68% to the 20-day volume weighted average price. The offer has received unanimous recommendation from Winsome’s board and support from major shareholders, including Waratah Capital Advisors.
Capital Raising and Dual Listing
To fund the aggressive exploration and development of the combined Adina-Galinée project, Li-FT plans a concurrent private placement targeting gross proceeds of C$30 million through subscription receipts. An additional C$10 million placement will support development at Li-FT’s Yellowknife Lithium Project in the Northwest Territories. Furthermore, Li-FT has committed to applying for admission to the Australian Securities Exchange (ASX), enabling a dual listing alongside its TSXV presence. This strategic move aims to broaden investor access and enhance capital market profile.
Management and Governance Enhancements
Post-transaction, Winsome’s Managing Director Chris Evans will join the Li-FT board, while Executive Director Simon Iacopetta will serve as a strategic advisor. The combined company is positioned to leverage the expertise of Avenir Minerals Limited, a strategic shareholder with deep experience in Québec’s permitting and mining operations, further strengthening the development pathway.
Transaction Conditions and Outlook
The completion of the Winsome acquisition is conditional on several factors, including court and shareholder approvals, successful execution of the Galinée acquisition agreements, and regulatory consents for the dual listing and share quotation. The indicative timetable targets shareholder meetings in early April 2026 and transaction implementation by late April 2026.
With this consolidation, Li-FT aims to establish itself as a major player in the North American hard rock lithium sector, combining significant resource bases, diversified assets, and enhanced funding capacity to pursue downstream opportunities and processing options.
Bottom Line?
As Li-FT and Winsome move toward integration, investors will keenly watch regulatory approvals and the unfolding of exploration results that could redefine lithium supply in Canada.
Questions in the middle?
- Will the Galinée acquisition definitive agreements be executed smoothly and on schedule?
- How will the combined company update and validate the mineral resource estimates for Adina-Galinée?
- What market response will the dual TSXV-ASX listing and concurrent capital raises elicit from institutional investors?
