FingerMotion (NASDAQ: FNGR) entered into a definitive share purchase agreement to acquire 100% of Newbit Technology Inc. for $2.3 million in cash. Newbit holds the surface tenure, permits, pipeline and metering infrastructure, environmental approvals, Alberta Utilities Commission Rule 007 registration and related rights associated with FingerMotion’s previously disclosed 9.9 MW behind-the-meter Brooks Campus #1 in the County of Newell, Alberta. FingerMotion previously paid a $230,000 deposit, with another $230,000 due upon execution and approximately $1.84 million payable at closing, which is targeted to occur no later than Oct. 29, 2026.
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About FingerMotion, Inc.
FingerMotion is an evolving technology company with a core competency in mobile payment and recharge platform solutions in China. As the user base of its primary business continues to grow, the Company is developing additional value-added technologies to market to its users. The vision of the Company is to rapidly grow the user base through organic means and have this growth develop into an ecosystem of users with high engagement rates utilizing its innovative applications. Developing a highly engaged ecosystem of users would strategically position the Company to onboard larger customer bases. FingerMotion eventually hopes to serve over 1 billion users in the China market and eventually expand the model to other regional markets.
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