Azimut Exploration Inc. Finalizes 50 % Sale of Galinée Property to LiFT Power
Azimut Exploration Inc. (TSXV: AZM, OTCQX: AZMTF) confirmed that it has completed the sale of its 50 % interest in the Galinée lithium‑bearing property in Quebec, Canada, to LiFT Power Ltd. (TSXV: LIFT, OTCQX: LIFFF). The transaction, announced on February 18 , 2026, follows earlier press releases dated December 15 and December 24 of 2025, which outlined the intent to transfer the stake.
Key Terms of the Agreement
| Item | Detail |
|---|---|
| Acquirer | LiFT Power Ltd. |
| Seller | Azimut Exploration Inc. |
| Asset | 50 % interest in the Galinée property (adjacent to the Adina lithium deposit owned by Winsome Resources Ltd.) |
| Consideration | 2 000 000 common shares of LiFT Power’s capital |
| Royalty | 1.4 % net smelter return (NSR) on the Galinée property, shared proportionally between LiFT and the remaining holder, SOQUEM Inc. |
| Deferred Payment | $1 500 000 payable either in cash or in LiFT shares at the earlier of (i) completion of an economic study of the Galinée property or (ii) 18 months post‑closing |
| Shareholdings | All shares issued to Azimut will be subject to a statutory hold‑period of four months and one day, in line with Canadian securities regulations |
Strategic Context
The Galinée property lies in the James Bay region of Quebec, an area with growing interest in lithium exploration and development. By transferring its stake to LiFT Power, Azimut positions itself to benefit from future advances in lithium extraction while retaining a 50 % share of the royalty stream. The sale also aligns Azimut’s focus on core assets and allows it to redirect capital toward other opportunities within the metals and mining sector.
Market Reaction
Azimut’s share price, which traded at CAD 0.71 on February 17 , 2026, sits below its 52‑week low of CAD 0.45 and near the 52‑week high of CAD 1.10. The company’s market capitalization is approximately CAD 73.5 million, and its price‑earnings ratio is negative at –38.22, reflecting its status as a high‑growth exploration firm rather than a cash‑generating producer.
While the transaction does not immediately impact cash flow, the deferred consideration and royalty arrangement may generate future income streams that could support Azimut’s ongoing exploration activities in western Quebec.
Forward Outlook
Azimut’s management has indicated that the company will continue to evaluate exploration and development opportunities within the region. The completion of the Galinée transaction underscores Azimut’s strategy of partnering with specialized operators to unlock value from its asset portfolio while maintaining exposure to potential upside through royalty agreements.
Investors and analysts will monitor the progress of LiFT Power’s development plans for the Galinée property and the outcomes of the scheduled economic study, both of which could influence Azimut’s future earnings prospects and share valuation.
