FingerMotion Announces Non-Binding Expression of Interest for Up to 7 MW AI/HPC Colocation Capacity at Brooks Campus #1 Expected to Generate in Excess of $100 Million in Contracted Revenue Over Initial Five-Year Term

Estimated annual revenue when fully operational is approximately $20 to $25 million, conditional on reaching definitive agreements.

Rhea-AI Summary

FingerMotion (Nasdaq: FNGR) announced a non-binding expression of interest covering up to 7 MW of data-center colocation capacity at Brooks Campus #1. Its wholly owned subsidiary entered the arrangement with Cascadia Power, acting for itself and an unnamed client; Cascadia is not the capacity buyer.

FingerMotion expects more than $100 million in contracted revenue over an initial five-year term if definitive agreements are reached, with estimated annual revenue of approximately $20 to $25 million when fully operational. The contemplated schedule targets the first tranche six months after a subsequent binding agreement becomes effective and full capacity within 12 to 14 months. The client would have an election right for another 3 MW at a nearby second site. A 30-day exclusivity period allows negotiations toward binding agreements, subject to diligence and definitive documentation. Brooks is the first site in the company's previously announced 99 MW Alberta program.

4 points · 0 major

PositiveiHow this balance works

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How the balance worksHow Sentiment works

0 major · 1 point

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

Positive

• Moderate point. Forward-looking: it has not happened yet and may not happen.Up to 7 MW of contemplated client capacity would advance FingerMotion's previously announced 99 MW Alberta program.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Expected contracted revenue exceeds $100 million over five years if definitive agreements are reached; estimated annual revenue is approximately $20–$25 million when fully operational. 11× market cap
• Minor point. Forward-looking: it has not happened yet and may not happen.First-tranche service is targeted six months after a subsequent binding agreement becomes effective; full capacity is expected within 12–14 months.
• Minor point. Forward-looking: it has not happened yet and may not happen.Additional 3 MW election right would give the client an expansion option at a nearby second site.

Negative

• Moderate pointNon-binding status leaves the contemplated capacity and revenue dependent on diligence and execution of definitive agreements.

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Details

Market Reaction – FNGR

+3.2% Peak in 0 min

$0.10 – $0.12 Day Range

$8.59M Mkt Cap at Last Price

On Nov 4, the day this news came out, the latest delayed price for FNGR is 2.00% below the previous close. Argus tracked a peak move of +3.2% during the session. Our momentum scanner has recorded 8 alerts for this stock so far that day. The latest delayed price is $0.11. Relative volume is above average at 1.7x what this stock usually trades by this time of day.

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Key Figures

Colocation capacity: up to 7 MW Contracted revenue: in excess of $100 million Initial term: five years +4 more

Colocation capacity

up to 7 MW

Critical IT capacity contemplated under the non-binding Expression of Interest

Contracted revenue

in excess of $100 million

Expected over the initial five-year term if definitive agreements are reached

Initial term

five years

Contemplated term for the colocation arrangement

Initial tranche service target

six months

After the effective date of a subsequent binding agreement

Full-capacity target

12 to 14 months

Contemplated schedule for Brooks Campus #1

Expansion capacity

additional 3 MW

Client election right for a nearby second site

Exclusivity period

30 days

Period for negotiations toward binding agreements

Historical Context

2 past events · Latest: Oct 15

2 events

1. Oct 15

   Brooks offtake interest

   24h Move

   -8.3%

   Multiple non-binding customer expressions of interest for Brooks Campus #1; no definitive agreement.

2. Oct 08

   Brooks offtake discussions

   24h Move

   -1.4%

   Offtake discussions began for Brooks Campus #1; no definitive customer agreement had resulted.

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, colocation, epc contractor, ready-for-service

4 terms

behind-the-meter technical

"Brooks Campus #1 is a behind-the-meter, natural gas-powered AI/HPC data center"

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.

colocation technical

"up to 7 MW of critical IT liquid-cooled colocation capacity"

Colocation is the practice of placing a trader’s computer servers inside or next to an exchange’s data center so their orders travel the shortest possible distance to the exchange’s computers. For investors this matters because even tiny gains in speed can mean better trade prices or reduced slippage—like being first in line at a checkout—so firms that colocate can gain steady, measurable advantages or incur extra costs that affect returns.

epc contractor technical

"BlueFlare is the developer, EPC contractor and operator of the Facility."

An EPC contractor is a firm hired to design a project, buy the required equipment and materials, and build it to working order — think of a single company acting like an architect, buyer and builder combined. For investors this matters because EPC contracts usually set fixed prices, schedules and performance guarantees, so the contractor’s ability to deliver on time, on budget and to specifications directly affects project returns, cost risk and cash flow predictability.

ready-for-service technical

"targets an initial Ready-for-Service date for the first tranche"

A ready-for-service designation means a built asset or system has completed construction, testing, and any regulatory inspections and is available to begin normal operations. For investors it signals the project can start generating revenue or be placed into service for accounting and regulatory purposes, similar to an appliance being fully installed, inspected, and switched on so it can be used and billed for.

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

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West Palm Beach, Fla. and Calgary, Alberta, Nov. 04, 2026 (GLOBE NEWSWIRE) -- FingerMotion, Inc. (Nasdaq: FNGR) (“FingerMotion” or the “Company”) today announced that Brooks Campus No. 1 Inc., its wholly owned subsidiary, has entered into a non-binding Letter of Intent and Expression of Interest (the “Expression of Interest”) with Cascadia Industries Ltd., doing business as Cascadia Power (“Cascadia”), acting for itself and on behalf of a colocation client it represents (the “Client”), regarding up to 7 MW of critical IT liquid-cooled colocation capacity at Brooks Campus #1 in the County of Newell, Alberta. Based on the commercial terms contemplated under the Expression of Interest, the arrangement is expected to generate in excess of $100 million in contracted revenue over an initial five-year term if definitive agreements are reached.

Brooks Campus #1 is a behind-the-meter, natural gas-powered AI/HPC data center located approximately 3.6 km northeast of the Hamlet of Tilley, adjacent to the Bantry gas plant. BlueFlare Energy Solutions Inc. (“BlueFlare”) is the developer, EPC contractor and operator of the Facility. The capacity is designed for NVIDIA GB300 NVL72-class infrastructure with liquid cooling.

Under the Expression of Interest, Cascadia has advised that the Client is interested in contracting up to 7 MW of firm critical IT capacity to be delivered in tranches at Brooks Campus #1. The contemplated schedule targets an initial Ready-for-Service date for the first tranche six months from the effective date of a subsequent binding agreement, with the site expected to reach its full capacity within 12 to 14 months. When fully operational, estimated annual revenue is approximately $20 to $25 million per year, supporting contracted revenue in excess of $100 million over the initial five-year term. The Client would also have an election right for an additional 3 MW of Expansion Capacity at a nearby second site that shares gas supply, fiber and staff. The Expression of Interest includes a 30-day exclusivity period during which the parties will negotiate in good faith toward a binding letter of intent and definitive colocation agreements, subject to customary conditions, diligence, and execution of definitive documentation.

This Expression of Interest advances FingerMotion’s previously announced 99 MW Alberta behind-the-meter power and compute program, of which Brooks Campus #1 is the first site. There can be no assurance that a binding agreement will be reached or that any of the contemplated capacity will be contracted.

“This Expression of Interest reflects strong demand for near-term, firm behind-the-meter AI/HPC capacity in Alberta,” said Jolie Kahn, Chief Executive Officer of FingerMotion. “Brooks Campus #1 is structured to deliver liquid-cooled capacity compatible with next-generation NVIDIA systems on a schedule that aligns with clients’ needs, supported by BlueFlare’s on-site operations and FingerMotion’s involvement.”

“Operators continue to seek reliable power and cooling without grid interconnection delays,” said Landon Ruszkowski, Chief Executive Officer of BlueFlare Energy Solutions Inc. “This Expression of Interest for liquid-cooled colocation at Brooks Campus #1 demonstrates how our behind-the-meter natural gas model, combined with stick-built data center construction on a previously developed industrial site, can deliver critical IT capacity efficiently for high-density AI workloads.”

Cascadia introduced the Client and is acting on its behalf under the Expression of Interest. Cascadia is not itself the offtake client.

About FingerMotion, Inc.

FingerMotion, Inc. (Nasdaq: FNGR) is a technology company that has historically served the mobile payment, recharge and data-analytics markets in the People’s Republic of China. Through its relationship with BlueFlare, the Company is developing behind-the-meter powered high-performance computing capacity in Alberta for artificial-intelligence and high-performance computing clients. Additional information is available at www.fingermotion.com.

About BlueFlare Energy Solutions Inc.

BlueFlare Energy Solutions Inc. is a Calgary-based developer of behind-the-meter natural gas power generation and modular high-performance computing infrastructure. BlueFlare self-performs design, procurement, construction, commissioning and operations on its programs across Alberta.

About Cascadia Industries Ltd. (Cascadia Power)

Cascadia Industries Ltd., doing business as Cascadia Power, introduced the offtake client and is party to the Expression of Interest on behalf of the Client. Cascadia is not the offtake client.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding the Expression of Interest, the potential delivery of capacity, the negotiation of binding agreements, the expansion election, revenue estimates (including contracted revenue over an initial term if definitive agreements are reached), and the Company’s Alberta program. These statements are based on current expectations and involve risks and uncertainties that could cause actual results to differ materially, including the failure to negotiate or execute definitive agreements, the satisfaction of any conditions, permitting, gas supply, financing, construction timing, equipment availability, utilization levels, and other risks described in the Company’s SEC filings. There can be no assurance that the Expression of Interest will result in a binding agreement or that any revenue will be realized. Forward-looking statements speak only as of the date of this release. The Company undertakes no obligation to update them except as required by law.

Investor Contact
FingerMotion, Inc.
Investor Relations
Email: ir@fingermotion.com
Website: www.fingermotion.com

FAQ

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

How much revenue could FingerMotion's Brooks Campus #1 arrangement generate?

FingerMotion expects in excess of $100 million in contracted revenue over an initial five-year term if definitive agreements are reached. Estimated annual revenue when fully operational is approximately $20 to $25 million. The expression of interest is non-binding.

When could FingerMotion's Brooks Campus #1 capacity enter service?

The contemplated schedule targets the first tranche's Ready-for-Service date six months from the effective date of a subsequent binding agreement. The site is expected to reach full capacity within 12 to 14 months.