FingerMotion Inc. (NASDAQ: FNGR), a technology company with a core competency in mobile payment and recharge platform solutions in China, has entered into a definitive share purchase agreement to acquire 100% of Newbit Technology Inc. for $2.3 million in cash. The acquisition, announced via FingerMotion (NASDAQ: FNGR), includes Newbit's 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 of the agreement and approximately $1.84 million payable at closing. The closing is targeted to occur no later than Oct. 29, 2026. The full press release is available at https://ibn.fm/CGwH7.
This acquisition is significant because it secures the necessary infrastructure and regulatory approvals for FingerMotion's planned 9.9 MW behind-the-meter power project in Alberta. The move represents a diversification beyond the company's core mobile payment and recharge platform business in China, where it aims to serve over 1 billion users and eventually expand to other regional markets. By acquiring Newbit, FingerMotion gains direct control over the permits and metering infrastructure required for the Brooks Campus #1 project, potentially accelerating its development and reducing reliance on third parties.
For investors, the deal highlights FingerMotion's strategic interest in energy infrastructure, which could open new revenue streams and operational synergies. However, the acquisition also carries execution risks, including regulatory approvals and the timely completion of the project. The company's latest news and updates are available in its newsroom at https://ibn.fm/FNGR.
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