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Summary

On 15 December 2025, Winsome Resources Limited (ASX: WR1) agreed to be acquired by Li-FT Power Ltd. (TSXV: LIFT), known as LIFT, under a scheme of arrangement (LIFT announcement). Winsome's unlisted options were acquired under a separate option scheme.

• Acquisition consideration: 0.107 new LIFT CHESS Depositary Interests (CDIs) for each Winsome share held. Each CDI represents one LIFT common share. Shareholders could instead elect to receive 0.107 new LIFT common shares listed on the TSX Venture Exchange (TSXV).
• Offer value: about A$0.501 per Winsome share when announced, a 62% premium to Winsome's closing price on 8 December 2025
• Scheme meeting: 5 May 2026, with 93.99% of votes cast in favour of the share scheme
• Effective date: 12 May 2026 (last day of trading for WR1 shares)
• Record date: 14 May 2026
• Implementation date: 21 May 2026
• Winsome delisted from the ASX: 22 May 2026
• LIFT CDIs started trading on the ASX under the ticker LFT: 26 May 2026

LIFT combined Winsome's Adina lithium project in Quebec with its own Yellowknife Lithium Project and a controlling interest in the neighbouring Galinée property. The aim was to create one of the largest hard rock lithium developers in Canada, with Adina no longer limited by the claim boundary with Galinée (LIFT completion announcement). Former Winsome securityholders own about 35% of the combined company.

Tax implications

Capital Gains

Working out your net capital gain or net capital loss for the 2026 year

This acquisition is likely a taxable event. However, WR1 shareholders who make a capital gain on their WR1 shares may be eligible for scrip for scrip rollover relief.

This means they can defer paying capital gains tax on the disposal of their WR1 shares if they receive LFT CDIs (or LIFT shares) in exchange.

To work out your net capital gain or net capital loss for the year, you must take into account:

• any other capital gains or capital losses you make in the 2026 income year from other transactions
• any net capital losses carried forward from earlier income years
• whether you can apply the CGT discount to any part of your net capital gain

If you received cash through the Sale Facility instead of CDIs (see the FAQ below), rollover relief does not apply to that cash, and the disposal is treated as a sale.

How to handle this in Sharesight

1 – On the Overview page, select WR1.ASX

2 - Select Edit holding tab

3 - Select Merge this holding

4 - Date of Merger: 21 May 2026

5 - New holding: Search: LFT.ASX

6 - Quantity: 0.107 new LFT CDI for every WR1 share

For example, 1,000 WR1 shares gets 107 LFT CDIs.

7 - Select Save changes

Note: If you elected to receive LIFT common shares on the TSXV instead of CDIs, search for LIFT on the TSXV market in step 5. Check your holding statement for the exact number of CDIs or shares you received.

FAQ

What happens to my shares after the acquisition?

The scheme was implemented on 21 May 2026. Your WR1 shares were transferred to LIFT, and eligible shareholders received 0.107 new LIFT CDIs for each WR1 share held on the record date. Winsome was removed from the ASX on 22 May 2026.

Do I need to take any action?

Your WR1 shares have been cancelled and replaced with LIFT CDIs, traded under LFT.ASX. You don't need to take any action with your broker. In Sharesight, follow the steps above to merge your WR1 holding into LFT.ASX so your cost base and performance history carry over.

What do I receive for my shares?

Unless you are an Ineligible Foreign Holder or a small shareholder (see below), you received 0.107 new LIFT CDIs for each WR1 share held on the record date, or 0.107 new LIFT common shares on the TSXV if you made a valid election.

If you are an Ineligible Foreign Holder, the LIFT CDIs you would have received were issued to a Sale Agent and sold through the Sale Facility, and your share of the net proceeds was paid to you in Australian dollars.

What if I held only a small number of WR1 shares?

If your holding would have given you LIFT CDIs worth less than a marketable parcel ($500), you were treated as a small shareholder. Unless you elected by 12 May 2026 to receive CDIs or shares, your CDIs were sold through the Sale Facility and you received the net cash proceeds.

If you received cash instead of CDIs, record a Sell trade on WR1.ASX dated 21 May 2026 using the price per share shown on your Sale Facility payment statement, instead of merging the holding.

Is this acquisition a taxable event?

This acquisition is likely a taxable event. However, you may be eligible for scrip for scrip rollover relief if you make a capital gain on your WR1 shares. Consult with a tax professional for personalised advice.

You can calculate your estimated tax liability using our CGT calculator. If you have more than one trade, you can add them in Sharesight and run the CGT report to calculate your tax liability.

Will Sharesight track my cost base if I choose rollover relief?

Yes, Sharesight accurately tracks your cost base. When you merge WR1 into LFT, your original WR1 cost base and purchase dates carry over to your LFT holding. You can find your cost base information in the Historical Cost report.

If you don't have a Sharesight account, sign up here for free, enter the date you bought WR1, and follow the steps above to keep track of the cost base.

What is the difference between LFT CDIs and LIFT shares?

LIFT is a Canadian company whose common shares are listed on the TSXV and trade in Canadian dollars. LFT CDIs let Australian investors hold and trade LIFT on the ASX in Australian dollars. Each LFT CDI represents one LIFT common share.

How does this acquisition affect my portfolio concentration risk?

You can find out your portfolio diversification using the Diversity report.

The guide above is a suggestion on how to handle the corporate action in Sharesight and is not financial or tax advice. We advise you to consult your financial advisor or broker. We also encourage you to review the official documents for full details.