# Renard Option Fee Released After MRNF Approval

> Li-FT Power gets C$12 million after Quebec's environmental approval for Renard mine site delay.
- Title: Renard Option Fee Released After MRNF Approval · Financialpost
- Summary: Li-FT Power gets C$12 million after Quebec's environmental approval for Renard mine site delay. Li-FT Power Ltd. received C$12 million in cash following…
- Keywords: li-ft power, renard mining site, quebec ministry, stornoway diamonds, tsx venture exchange, lithium processing, option fee, c$12 million, june 23 2028, mrmf authorization, money, business
- Source: Financialpost — https://financialpost.com/globe-newswire/release-conditions-for-renard-option-satisfied
- Read time: 1 min
- Topics: li-ft power, renard mining site, quebec ministry, stornoway diamonds, tsx venture exchange, lithium processing, option fee, c$12 million, june 23 2028, mrmf authorization, money, business
## Li-FT Power Ltd. announces
Li-FT Power Ltd. (TSXV: LIFT) received authorization from Quebec's Ministry of Natural Resources to postpone Renard mining site rehabilitation until June 23, 2028.
## C$12 million Option Fee released
The company received C$12 million in cash following Quebec's environmental approval for the Renard mining site postponement.
## Option Agreement terms
Li-FT Power has a two-year option period ending June 23, 2028 to evaluate Renard's feasibility for lithium processing and negotiate acquisition.
## C&M costs and remediation
Li-FT Power will cover C$18 million annually for mine site maintenance and full closure costs if it exercises the option.
## Acquisition conditions
Acquisition requires Court approval, regulatory approvals, and negotiation of a definitive acquisition agreement before finalizing the Renard purchase.
## i2i Marketing Engagement
Li-FT Power engaged i2i Marketing Group for US$1.4 million in investor awareness services starting October 5, 2026.
## Key takeaway

Li-FT Power Ltd. received C$12 million in cash following Quebec's Ministry of Natural Resources approval to delay Renard mine rehabilitation until June 2028.