FingerMotion Inc. (NASDAQ: FNGR), a technology company with core operations in mobile payment and recharge platforms in China, has signed a definitive share purchase agreement to acquire 100% of Newbit Technology Inc. for $2.3 million in cash. The acquisition, announced by MissionIR, marks a strategic move to secure essential infrastructure for the company’s previously disclosed 9.9 MW behind-the-meter Brooks Campus #1 in the County of Newell, Alberta.
Newbit holds the surface tenure, permits, pipeline and metering infrastructure, environmental approvals, Alberta Utilities Commission Rule 007 registration and related rights associated with the Brooks Campus #1 project. This acquisition consolidates ownership of critical regulatory and physical assets needed to develop the power facility, which is designed to operate behind the meter, meaning it will generate electricity primarily for on-site consumption rather than selling to the grid.
Under the terms of the agreement, FingerMotion has already paid a $230,000 deposit, with another $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 Oct. 29, 2026. The staged payment structure provides the company with time to finalize conditions while securing the assets required for the project.
The deal matters because it gives FingerMotion direct control over the permitting and infrastructure needed to power its Alberta campus, potentially reducing long-term energy costs and operational risks. For a company primarily known for its mobile payment and recharge platform solutions in China, this acquisition represents a significant diversification into energy infrastructure. FingerMotion has stated that its vision is to rapidly grow its user base through organic means and develop an ecosystem of highly engaged users, eventually hoping to serve over 1 billion users in the China market and expand to other regions. Securing reliable, cost-effective power for its operations could support that growth strategy, especially as data and technology infrastructure demand rises.
Investors can view the full press release at https://ibn.fm/CGwH7. The latest news and updates relating to FNGR are available in the company’s newsroom at https://ibn.fm/FNGR. MissionIR, which issued the announcement, is a specialized communications platform that is part of the Dynamic Brand Portfolio at IBN. The platform provides access to wire solutions via InvestorWire, editorial syndication to 5,000+ outlets, and other corporate communications services. For more information, visit www.MissionIR.com. The full terms of use and disclaimers applicable to all content provided by MissionIR are available at https://www.MissionIR.com/Disclaimer.
