FG Nexus Signs Non-Binding Letter of Intent to Sell Quebec Property

Rhea-AI Summary

FG Nexus (Nasdaq: FGNX, FGNXP) signed a non-binding letter of intent to sell its Quebec property for $10 million. After repayment of the existing mortgage, the transaction is expected to produce approximately $8 million in net pretax proceeds. The company said proceeds would help fund share repurchases under its buyback program and support its focus on increasing its corporate stake in ETH. The letter of intent is not binding and the sale is subject to definitive agreements, due diligence, customary closing conditions, and closing in Q1 2026 if completed.

Positive

• $10 million proposed sale price for Quebec property
• Approximately $8 million expected net pretax proceeds
• Proceeds earmarked to repurchase FGNX shares
• Sale intended to refocus capital toward increasing ETH stake

Negative

• Letter of intent is non-binding; completion not assured
• Closing contingent on due diligence and customary conditions in Q1 2026
• Proceeds are stated as pretax, tax impact will reduce net benefit

Charlotte, NC, Oct. 22, 2025 (GLOBE NEWSWIRE) -- FG Nexus (Nasdaq: FGNX, FGNXP) (the "Company" or "FG Nexus”), today announced that it has signed a non-binding letter of intent to sell its Quebec property for $10 million. Following repayment of the existing mortgage, the transaction is expected to generate approximately $8 million in net pretax proceeds.

"This sale sharpens our focus on becoming the dominant corporate stakeholder of ETH and provides additional cash resources to repurchase shares of FGNX in the open market through our share buyback program," said Kyle Cerminara, CEO of FG Nexus.

The letter of intent does not constitute a binding agreement, and there can be no assurance that a definitive sale agreement will be reached or that the transaction will be completed. The transaction, if completed, is expected to close during the first quarter of 2026, subject to the execution of definitive agreements, completion of due diligence, and satisfaction of customary closing conditions. The Company will provide updates to the market as developments warrant and upon completion of any definitive transaction.

About FG Nexus

FG Nexus Inc. (Nasdaq: FGNX, FGNXP), (the “Company”), is on the Ethereum Standard, and singularly focused on becoming the largest corporate holder of ETH in the world by an order of magnitude. In order to enhance our ETH YIELD, the Company will stake and intends to implement other yield strategies while serving as a strategic gateway into Ethereum-powered finance, including tokenized RWAs and stablecoin yield.

The FGNX^® logo is a registered trademark.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). These statements are therefore entitled to the protection of the safe harbor provisions of these laws. These statements may be identified by the use of forward-looking terminology such as “anticipate,” “believe,” “budget,” “can,” “contemplate,” “continue,” “could,” “envision,” “estimate,” “expect,” “evaluate,” “forecast,” “goal,” “guidance,” “indicate,” “intend,” “likely,” “may,” “might,” “outlook,” “plan,” “possibly,” “potential,” “predict,” “probable,” “probably,” “pro-forma,” “project,” “seek,” “should,” “target,” “view,” “will,” “would,” “will be,” “will continue,” “will likely result” or the negative thereof or other variations thereon or comparable terminology. In particular, discussions and statements regarding the Company’s future business plans and initiatives are forward-looking in nature. We have based these forward-looking statements on our current expectations, assumptions, estimates, and projections. While we believe these to be reasonable, such forward-looking statements are only predictions and involve a number of risks and uncertainties, many of which are beyond our control. These and other important factors may cause our actual results, performance, or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements and may impact our ability to implement and execute on our future business plans and initiatives. Management cautions that the forward-looking statements in this press release are not guarantees of future performance, and we cannot assume that such statements will be realized or the forward-looking events and circumstances will occur. Factors that might cause such a difference include, without limitation, fluctuations in the market price of ETH and any associated impairment charges that the Company may incur as a result of a decrease in the market price of ETH below the value at which the Company’s ETH are carried on its balance sheet, changes in the accounting treatment relating to the Company’s ETH holdings, the Company’s ability to achieve profitable operations, government regulation of cryptocurrencies and online betting, changes in securities laws or regulations such as accounting rules as discussed below, customer acceptance of new products and services including the Company’s ETH treasury strategy, general conditions in the global economy; risks associated with operating in the merchant banking and managed services industries, including inadequately priced insured risks and credit risk; risks of not being able to execute on our asset management strategy and potential loss of value of our holdings; risk of becoming an investment company; fluctuations in our short-term results as we implement our business strategies; risks of not being able to attract and retain qualified management and personnel to implement and execute on our business and growth strategy; failure of our information technology systems, data breaches and cyber-attacks; our ability to establish and maintain an effective system of internal controls; the requirements of being a public company and losing our status as a smaller reporting company or becoming an accelerated filer; any potential conflicts of interest between us and our controlling stockholders and different interests of controlling stockholders; and potential conflicts of interest between us and our directors and executive officers.

Our expectations and future plans and initiatives may not be realized. If one of these risks or uncertainties materializes, or if our underlying assumptions prove incorrect, actual results may vary materially from those expected, estimated or projected. You are cautioned not to place undue reliance on forward-looking statements. Under U.S. generally accepted accounting principles, entities are required to measure certain crypto assets at fair value, with changes reflected in net income each reporting period. Changes in the fair value of crypto assets could result in significant fluctuations to the income statement results. The forward-looking statements are made only as of the date hereof and do not necessarily reflect our outlook at any other point in time. We do not undertake and specifically decline any obligation to update any such statements or to publicly announce the results of any revisions to any such statements to reflect new information, future events or developments.

Investor Contact
invest@fgnexus.io

Media Contact
media@fgnexus.io

FAQ

What did FG Nexus (FGNX) announce on October 22, 2025 about the Quebec property?

FG Nexus signed a non-binding LOI to sell the Quebec property for $10 million, with ~$8 million expected net pretax proceeds.

How will the expected $8 million net proceeds be used by FG Nexus (FGNX)?

The company said proceeds would be used to repurchase FGNX shares and to support its focus on increasing its corporate ETH stake.

Is the FG Nexus (FGNX) sale of the Quebec property final and when could it close?

No; the LOI is non-binding and the transaction, if completed, is expected to close in Q1 2026 after due diligence and definitive agreements.

Will the $8 million figure from FG Nexus (FGNX) be the cash shareholders receive?

No; the ~$8 million is estimated net pretax proceeds after mortgage repayment, and taxes or other items may reduce final cash.

Does the FG Nexus (FGNX) announcement guarantee the buyer or final terms for the Quebec property?

No; the LOI does not constitute a binding agreement and final buyer identity and terms require definitive agreements.