Alset AI Highlights FingerMotion Alberta Infrastructure Agreement and Strategic Alignment with Lyken AI

Lyken's existing collaboration framework establishes no customer revenue or financing commitments.

Rhea-AI Summary

Alset AI Ventures (GPUSF) highlighted FingerMotion's definitive agreement to acquire Newbit Technology, which holds infrastructure rights for a planned Alberta site. FingerMotion (NASDAQ:FNGR) proposes US$2.3 million in cash consideration for assets associated with a 9.9 megawatt site supplying power directly to users. It targets closing by October 29, 2026, subject to conditions. Generating equipment is excluded; the deal does not establish operating generation or contracted compute revenue.

Alset holds 1,674,480 restricted FingerMotion shares, approximately 2.2% of outstanding common shares as of October 2, 2026, following its August sale of a 9.9% Lyken interest. Alset retains 90.1% of Lyken. Trading restrictions end February 17, 2027. Lyken's non-binding agreement with FingerMotion and BlueFlare evaluates workload and infrastructure opportunities but grants no site ownership or capacity rights. Participation requires separate evaluation and definitive commercial agreements.

1 point · 0 major

NegativeiHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

0 major · 5 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Minor pointLyken's collaboration with FingerMotion and BlueFlare provides a framework to evaluate matching enterprise workloads with future infrastructure.

Negative

• Moderate pointLyken's collaboration remains a non-binding memorandum of understanding, not a definitive commercial agreement.
• Minor pointLyken site participation requires separate evaluation and definitive commercial agreements.
• Minor pointLyken's memorandum grants no site ownership or reserved power or compute capacity.
• Minor pointLyken's memorandum establishes no customer revenue or financing commitments.
• Minor point. Forward-looking: it has not happened yet and may not happen.Alset's 1,674,480 FingerMotion shares remain subject to a six-month trading restriction ending February 17, 2027.

Argus 15 min delay 49 alerts

+4.40% vs previous close $0.26 last price 45.7x rel. volume Open Argus

Details

Market move: FNGR +4.40% vs previous close. Alberta site acquisition

+15.3% Peak in 4 min

$0.23 – $0.30 Day Range

$19.72M Market Cap

On Oct 5, the day this news came out, the latest delayed price for FNGR is 4.40% above the previous close. Argus tracked a peak move of +15.3% during the session. Our momentum scanner has recorded 49 alerts for this stock so far that day. The latest delayed price is $0.26. Relative volume is exceptionally heavy at 45.7x the average.

Data tracked by StockTitan Argus (15 min delayed). Upgrade to Gold for real-time data.

Key Figures

Cash consideration: US$2.3 million Target closing date: On or before October 29, 2026 Site capacity: 9.9 megawatt +4 more

Cash consideration

US$2.3 million

FingerMotion’s proposed acquisition of Newbit

Target closing date

On or before October 29, 2026

Subject to conditions

Site capacity

9.9 megawatt

Planned Alberta behind-the-meter site

FingerMotion shares held

1,674,480 restricted shares

Held by Alset

FingerMotion ownership

Approximately 2.2%

Alset’s holding as of October 2, 2026

Lyken ownership retained

90.1%

Alset’s controlling interest

Trading restriction

Six months, ending February 17, 2027

Applies to Alset’s FingerMotion shares

Previous AI Reports

1 past event · Latest: Aug 17

Same Type 1 event

1. Aug 17

   Lyken stake sale

   24h Move

   -0.6%

   Alset transferred a 9.9% Lyken interest to FingerMotion for 1,674,480 restricted shares.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

behind-the-meter, memorandum of understanding, high-performance computing, restricted shares

4 terms

behind-the-meter technical

"planned 9.9 megawatt behind-the-meter site in Alberta"

Equipment or systems located on a customer’s side of the electricity meter—such as rooftop solar panels, battery storage, electric vehicle chargers, or energy controls—that generate, store, or manage power for use on-site rather than being supplied through the utility’s grid. Investors care because behind-the-meter assets change how much power a customer buys, can create new revenue or savings streams, affect demand patterns, and shift regulatory or business models in the energy market, much like a homeowner installing their own water tank reduces municipal supply needs.

memorandum of understanding financial

"entered into a non-binding memorandum of understanding with FingerMotion"

A memorandum of understanding (MOU) is a formal agreement between two or more parties that outlines their shared intentions and plans to work together. It acts like a handshake in writing, clarifying each side’s roles and expectations before any official contract is signed. For investors, an MOU signals that parties are serious about collaboration, which can influence future business opportunities and potential growth.

high-performance computing technical

"enterprise AI and high-performance computing workloads"

A cluster of very powerful computers, special chips and fast networks designed to tackle huge, complex calculations far faster than a normal PC — like replacing a single delivery van with a synchronized fleet to move a city’s worth of packages. For investors, high-performance computing matters because it enables faster product development, more accurate simulations and data analysis, and new revenue streams for hardware, software and services, making firms that supply or use it potentially more competitive and scalable.

restricted shares financial

"Alset holds 1,674,480 restricted FingerMotion shares"

Restricted shares are company stock that cannot be sold or transferred immediately because they are subject to legal or contractual limits, such as a required holding period or performance conditions. They matter to investors because these locked-up shares can affect a company’s available stock for trading, future dilution, and insider incentives—imagine a gift that can’t be cashed until certain conditions are met, which changes when and how much supply can suddenly enter the market.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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VANCOUVER, BC / ACCESS Newswire / October 5, 2026 / Alset AI Ventures Inc. (TSXV:GPUS)(OTCQB:GPUSF)(FSE: 1R61; WKN: A40M0J) ("Alset" or the "Company") acknowledges the September 29, 2026 announcement by FingerMotion, Inc. (NASDAQ:FNGR) ("FingerMotion") of a definitive agreement to acquire Newbit Technology Inc., which holds rights, permits and fixed infrastructure associated with a planned 9.9 megawatt behind-the-meter site in Alberta.

According to FingerMotion, the proposed acquisition involves US$2.3 million in cash consideration, with closing targeted on or before October 29, 2026, subject to conditions. Generating equipment is excluded from the acquisition, and the transaction does not itself establish operating power generation or contracted compute revenue.

Alset Investment and Lyken Relationship

Alset holds 1,674,480 restricted FingerMotion shares, representing approximately 2.2% of FingerMotion's issued and outstanding common shares as of October 2, 2026, received in connection with its August 2026 sale of a 9.9% interest in Lyken AI Computing Inc., operating as Lyken.AI ("Lyken"). The FingerMotion shares are subject to a six-month trading restriction ending February 17, 2027. Alset retains a 90.1% controlling interest in Lyken. This structure provides Alset with an investment in FingerMotion alongside its continuing ownership of Lyken's cloud compute business.

As previously announced, Lyken entered into a non-binding memorandum of understanding with FingerMotion and BlueFlare Energy Solutions Inc. to evaluate opportunities to match qualified enterprise AI and high-performance computing workloads with potential future infrastructure capacity.

"FingerMotion's definitive agreement represents a relevant step in its infrastructure strategy," said Adam Ingrao, Chief Executive Officer of Alset. "Our investment in FingerMotion and its minority ownership in Lyken create a strategic connection between the businesses and the collaboration between companies provides a framework for infrastructure developed through FingerMotion and BlueFlare to be matched with Lyken's enterprise customer opportunities."

Any participation by Lyken in the site would require separate evaluation and definitive commercial agreements. The existing MOU does not grant Lyken ownership of the site, reserve power or compute capacity, or establish customer revenue or financing commitments.

About Alset AI Ventures Inc

Alset AI is an AI-focused venture investment platform dedicated to sourcing, funding, and developing companies across the artificial intelligence value chain. The company seeks to provide investors with diversified exposure to emerging applications and infrastructure that enable advancements in AI technologies.

Investor Relations

Adam Ingrao, Chief Executive Officer
T: 236.312.6744
E: ir@alsetai.com

Forward Looking Information

This release contains forward-looking information concerning the proposed acquisition by FingerMotion, its anticipated timing and completion, potential collaboration involving Lyken, and any future participation by Lyken in the site. Forward-looking information is often identified by words such as "planned", "proposed", "targeted", "potential", "would" and similar expressions. Such information assumes satisfaction of closing conditions, availability of financing and infrastructure, and execution of any required definitive agreements. Risks include transaction delays or termination, unavailable fuel supply or equipment, regulatory and third-party consent requirements, financing constraints, failure to convert prospective customer opportunities into binding contracts, and changes in the value of Alset's investment in FingerMotion. Actual outcomes may differ materially, and readers should not place undue reliance on forward-looking information. Information about FingerMotion, Newbit Technology Inc. and the proposed acquisition is based on FingerMotion's public disclosure and has not been independently verified by Alset. Alset undertakes no obligation to update forward-looking information except as required by applicable law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."

SOURCE: Alset AI Ventures Inc.

View the original press release on ACCESS Newswire

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much FingerMotion stock does Alset AI hold?

Alset holds 1,674,480 restricted FingerMotion shares, representing approximately 2.2% of FingerMotion's issued and outstanding common shares as of October 2, 2026. It received the shares in connection with its August 2026 sale of a 9.9% interest in Lyken. The trading restriction ends February 17, 2027.

Does Lyken's agreement give it rights to FingerMotion's planned Alberta site?

Lyken's non-binding memorandum of understanding grants no ownership of the site and reserves no power or compute capacity. Any participation requires separate evaluation and definitive commercial agreements. The memorandum also establishes no customer revenue or financing commitments.