FingerMotion Acquires Newbit for $2.3 Million to Secure Alberta Power Infrastructure

FingerMotion Inc. (NASDAQ: FNGR), a technology company with core competencies 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, detailed in a recent press release available at https://ibn.fm/CGwH7, 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.

The deal structure involves a $230,000 deposit already paid by FingerMotion, with another $230,000 due upon execution and approximately $1.84 million payable at closing. The closing is targeted to occur no later than Oct. 29, 2026. This acquisition is a significant step for FingerMotion as it secures the necessary infrastructure and regulatory approvals to develop its Brooks Campus #1, a 9.9 MW behind-the-meter power facility. Behind-the-meter generation allows companies to produce electricity on-site, reducing reliance on the grid and potentially lowering energy costs. For FingerMotion, this could power its expanding operations, which include mobile payment and recharge platforms in China, as well as value-added technologies aimed at growing its user base.

FingerMotion's vision is to rapidly grow its user base through organic means and develop an ecosystem of highly engaged users utilizing its innovative applications. Serving over 1 billion users in the China market is a long-term goal, with eventual expansion to other regional markets. The Brooks Campus #1 project in Alberta represents a strategic investment in energy infrastructure that could support the company's technology operations, which are energy-intensive. By securing the permits and infrastructure through the Newbit acquisition, FingerMotion is positioning itself to potentially scale its operations efficiently.

The implications of this acquisition extend beyond FingerMotion. It highlights the growing trend of technology companies investing in energy infrastructure to support their operations, especially as data processing and mobile platforms require substantial power. For the Texas business community, which is a hub for both technology and energy innovation, this move underscores the importance of integrating energy solutions with tech growth. Companies in Texas may look to similar strategies to ensure reliable, cost-effective power for their expanding operations.

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