Curated News
By: NewsRamp Editorial Staff
September 30, 2026
FingerMotion to Acquire Newbit Tech for $2.3M, Securing Alberta Power Project
TLDR
- FingerMotion's $2.3 million acquisition of Newbit secures key Alberta power infrastructure, giving it a strategic edge in energy and technology.
- FingerMotion will acquire Newbit for $2.3 million in cash, with $230,000 paid, another $230,000 due on execution, and $1.84 million at closing by October 29, 2026.
- FingerMotion's purchase of Newbit supports clean energy infrastructure in Alberta, potentially benefiting communities through sustainable power solutions.
- FingerMotion is buying Newbit for $2.3 million to gain control of a 9.9 MW behind-the-meter power project in Alberta, Canada.
Impact - Why it Matters
This acquisition is crucial for FingerMotion as it secures full ownership of the Brooks Campus #1 power project, including all necessary permits and infrastructure. By consolidating these assets, FingerMotion can proceed with developing the 9.9 MW behind-the-meter facility, which could power its expanding technology operations and potentially generate additional revenue streams. The deal also demonstrates FingerMotion's commitment to diversifying its business beyond mobile payments in China, signaling strategic growth and long-term value creation for shareholders. As the company continues to build its user ecosystem, control over energy infrastructure may provide a competitive advantage and support its ambitious goal of serving over 1 billion users.
Summary
FingerMotion (NASDAQ: FNGR) has taken a significant step toward expanding its energy infrastructure portfolio by entering into a definitive share purchase agreement to acquire 100% of Newbit Technology Inc. for $2.3 million in cash. The acquisition grants FingerMotion full ownership of the surface tenure, permits, pipeline and metering infrastructure, environmental approvals, Alberta Utilities Commission Rule 007 registration, and related rights associated with its previously disclosed 9.9 MW behind-the-meter Brooks Campus #1 in the County of Newell, Alberta. This move consolidates FingerMotion's control over the project, which is essential for the development and operation of the power facility.
The transaction structure includes a $230,000 deposit already paid by FingerMotion, with an additional $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 October 29, 2026. This acquisition aligns with FingerMotion's broader strategy to develop value-added technologies and infrastructure, although the company's core business remains mobile payment and recharge platform solutions in China. FingerMotion aims to grow its user base organically and create a highly engaged ecosystem, eventually hoping to serve over 1 billion users in the China market and expand to other regions. The latest news and updates relating to FNGR are available in the company's newsroom at https://ibn.fm/FNGR.
MissionIR, a specialized communications platform under the Dynamic Brand Portfolio @ IBN, disseminated the announcement. MissionIR provides syndicated content to enhance visibility for private and public companies, leveraging a vast network that includes access to wire solutions via InvestorWire, article and editorial syndication to 5,000+ outlets, enhanced press release enhancement, social media distribution to millions of followers, and a full array of tailored corporate communications solutions. For more information, visit www.MissionIR.com.
Source Statement
This curated news summary relied on content distributed by InvestorBrandNetwork (IBN). Read the original source here, FingerMotion to Acquire Newbit Tech for $2.3M, Securing Alberta Power Project
