FingerMotion agrees to buy Newbit for $2.3 million

What happened

FingerMotion, Inc. (NASDAQ: FNGR) said on September 29, 2026 that it agreed to buy 100% of Newbit Technology Inc. for $2.3 million in cash.

The price is on a cash-free, debt-free basis, with usual leakage and debt adjustments.

Newbit holds the permits, pipeline and metering infrastructure, environmental and Alberta Utilities Commission Rule 007 registration, and related rights for the 9.9 MW behind-the-meter site in County of Newell, Alberta.

The agreement repeats a memorandum of understanding dated September 8, 2026 and a binding commitment announced September 10, 2026.

A $230,000 deposit was already paid and held in trust. Another $230,000 is due on execution, and about $1.84 million remains payable at closing.

Closing is targeted for the third business day after conditions are met or waived, and in any event on or before October 29, 2026.

There is no indemnity holdback or escrow.

Key numbers

Read more: FingerMotion (FNGR) stock analysis and investment case

Why it matters

OptimistFi's case is that FNGR's value depends on turning telecom recharge and payment access into higher-margin data and platform economics before liquidity or regulation cuts off the option.

This deal adds a North American behind-the-meter power and compute asset, so the filing is mixed for that case.

About $1.84 million, or 80.0%, of the purchase price is still due at closing.

That leaves most of the cash payment ahead of closing, but the filing says the agreement does not by itself create operating generation or contracted compute revenue.

General representation claims carry a $125,000 deductible and a $460,000 cap. Fundamental representations, title, tax, fraud and willful misconduct are uncapped.

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What's next

Closing is targeted for the third business day after conditions are met or waived, and in any event on or before October 29, 2026.

The remaining conditions include a new gas supply agreement acceptable to FingerMotion, Pivotal Energy Partners' written consent, and Eastern Irrigation District consent to the change of control.

If those items are not cleared by October 29, 2026, closing will not happen.

Approval of the Alberta Utilities Commission for any change of generating units is a post-closing responsibility, not a closing condition.

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Sources

• SEC Exhibit 99.1 press release — FingerMotion press release dated September 29, 2026
• SEC Form 8-K — Item 1.01 and Item 8.01 report the definitive agreement

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Originally published on OptimistFi, evidence-first equity research. More at optimistfi.com.