FingerMotion Inc

FingerMotion, Inc. has entered into a definitive Share Purchase Agreement dated September 23, 2026 to acquire 100% of the issued and outstanding shares of Newbit Technology Inc. for US$2,300,000 in cash, exclusive of GST, on a cash-free, debt-free basis. Newbit holds the surface tenure, development and building permits, pipeline and metering infrastructure, environmental and Alberta Utilities Commission Rule 007 registration, and related rights tied to FingerMotion's previously disclosed 9.9 MW behind-the-meter site in the County of Newell, Alberta, known as Brooks Campus #1. The agreement restates and implements the binding memorandum of understanding dated September 8, 2026 and the binding commitment announced on September 10, 2026; a deposit of US$230,000 was previously paid and held in trust, a further US$230,000 is payable on execution, and the remaining approximately US$1,840,000 is payable in cash at closing, with no indemnity holdback or escrow. Closing is targeted for the third business day after satisfaction or waiver of conditions and in any event on or before the outside date of October 29, 2026, subject to conditions including a new gas supply agreement with Pivotal Energy Partners and Pivotal's written consent to the change of control. The Vendors have agreed to joint and several indemnities, with general representation claims subject to a US$125,000 deductible and a cap of US$460,000, while fundamental representations, title, tax, fraud and willful misconduct are uncapped.

FingerMotion, Inc. reported approximately $5.1 million in cash and cash equivalents and a nearly 30% reduction in monthly cash burn in the first 30 days under its new management team. The improved cash position reflects recent financing activity, including the Company's registered direct offering completed on August 31, 2026, together with tighter working-capital management. New management implemented a company-wide efficiency program focused on overhead, vendor spend, and non-core costs, and said it intends to keep identifying additional cost and process improvements as it reallocates resources toward its North American enterprise compute strategy. The Company also confirmed it has terminated its at-the-market issuance sales agreement with R.F. Lafferty & Co., Inc., originally dated October 23, 2025, a move management called prudent given current market conditions and its preference for more discrete, negotiated financings in the immediate term. Chief Executive Officer Jolie Kahn said the steps create operating room as FingerMotion concentrates on North American compute infrastructure, while Chief Financial Officer Chris Polimeni said the combination of roughly $5.1 million of unrestricted cash and a lower run-rate burn gives the Company a more durable near-term liquidity profile.