Winsome Resources (ASX:WR1) said Li-FT Power entered into a definitive project acquisition agreement with Azimut Exploration to acquire Azimut's interest in the exploration rights at the Galinée property in Canada, which hosts lithium-bearing pegmatites adjacent to Winsome's Adina deposit, according to a Monday Australian bourse filing.

Azimut's interest represents 50% of the total stake in the property.

LiFT agreed to acquire Azimut's interest in the property by issuing 2 million common shares, and it will retain a 1.4% net smelter royalty on the property. Azimut will also be entitled to a CA$1.5 million deferred payment, payable in cash, or, subject to certain terms and conditions.