FingerMotion (NASDAQ: FNGR) has entered into a definitive share purchase agreement to acquire 100% of Newbit Technology Inc. for $2.3 million in cash. The acquisition, disclosed in a recent press release, grants FingerMotion full ownership of the surface tenure, permits, pipeline and metering infrastructure, environmental approvals, Alberta Utilities Commission Rule 007 registration, and related rights associated with its previously announced 9.9 MW behind-the-meter Brooks Campus #1 in the County of Newell, Alberta. This move is significant because it consolidates FingerMotion's control over a critical energy infrastructure asset that could support its expanding technology operations, particularly in energy-intensive areas such as data processing or cryptocurrency mining.
Under the terms of the agreement, FingerMotion has already paid a $230,000 deposit, with an additional $230,000 due upon execution of the definitive agreement. Approximately $1.84 million is payable at closing, which is targeted to occur no later than October 29, 2026. By securing these assets outright, FingerMotion eliminates reliance on third-party agreements and positions itself to potentially generate cost savings or new revenue streams from the 9.9 MW facility. This is particularly important given the company's core competency in mobile payment and recharge platform solutions in China, where growing user engagement demands robust and scalable infrastructure.
The acquisition aligns with FingerMotion's broader vision of developing an ecosystem of value-added technologies. As the user base of its primary business continues to grow, the company is investing in assets that can support high-engagement applications. The Brooks Campus #1 project, with its behind-the-meter configuration, could provide reliable and potentially cheaper power, which is essential for maintaining competitive advantages in technology services. This strategic vertical integration may also open doors to partnerships or ventures that require significant energy inputs, diversifying FingerMotion's revenue sources beyond its traditional mobile payment focus.
For investors, the definitive agreement reduces uncertainty around the Brooks Campus #1 project. Previously, FingerMotion only held certain rights through other arrangements; now, full ownership of the permits and infrastructure clarifies the path to operational control. The staged payment structure, with the majority due at closing in 2026, gives the company time to finalize financing or operational plans without immediate cash strain. The latest news and updates relating to FNGR are available in the company's newsroom at https://ibn.fm/FNGR. To view the full press release, visit https://ibn.fm/CGwH7.
The announcement also highlights the role of MissionIR, a specialized communications platform that assists IR firms with syndicated content to enhance visibility of private and public companies. MissionIR is one of 75+ brands within the Dynamic Brand Portfolio at IBN, delivering access to wire solutions via InvestorWire and editorial syndication to editorial syndication to 5,000+ outlets, among other services. For more information, visit MissionIR. The company's ability to finalize this acquisition on schedule will be a key indicator of its execution capabilities and its commitment to building a vertically integrated technology and energy platform.
