FingerMotion Provides a Status Update on Its Recently Disclosed 99 MW Alberta Corridor, including Indications of Interest from Potential Offtakers for up to 52.5 MW

The two sites await definitive land agreements, and financing for the Alberta projects has not been announced.

Rhea-AI Summary

FingerMotion (FNGR) reported indications of interest for approximately 52.5 MW in its Alberta power-and-compute program on September 24, 2026.

The program under development comprises ten 9.9 MW generation and data hall sites grouped into four campuses in the Brooks, Coronation, Fox Creek and Vulcan Zones. It represents 99 MW of gross generation capacity and approximately 72 MW of continuous critical IT capacity. The interest is nonbinding: no customer offtake agreement has been executed, and no contract is guaranteed.

Two sites, Brooks Campus #1 and Hanna Campus #1, have been secured through binding letters of intent; definitive agreements are expected to close in October. Requests for proposals for on-site generation equipment are in progress for both sites. Project financing has not been announced. FingerMotion intends to secure land with power, obtain permits and contract capacity before starting construction.

News Explained

For the planned Alberta sites, each would be held in a dedicated project company wholly owned by FingerMotion. The release says BlueFlare performs development, construction and site operations, but takes title to none of the project assets.

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Details

Market Reaction – FNGR

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$10.79M Market Cap

On Sep 24, the day this news came out, the latest delayed price for FNGR is 1.94% above the previous close. Argus tracked a peak move of +9.2% during the session. Our momentum scanner has recorded 28 alerts for this stock so far that day. The latest delayed price is $0.14.

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Market Context

The Sep 15 program announcement established the corridor's scale and sequencing; the current update ...

Analysis

The Sep 15 program announcement established the corridor's scale and sequencing; the current update adds potential customer interest, but no binding offtake agreement is reported.

Key Figures

Potential offtaker interest: approximately 52.5 MW Gross generation capacity: 99 MW Aggregate continuous critical IT capacity: approximately 72 MW +2 more

Potential offtaker interest

approximately 52.5 MW

Nonbinding indications of interest within the Alberta program

Gross generation capacity

99 MW

Alberta corridor capacity in development

Aggregate continuous critical IT capacity

approximately 72 MW

Across the Alberta program

Sites secured

2 sites

Binding letters of intent; definitive agreements to follow

Expected site closings

October 2026

Both locations covered by the binding letters of intent

Historical Context

2 past events · Latest: Sep 21

2 events

1. Sep 21

   Site-control LOI

   24h Move

   -1.0%

   Binding Hanna powered-land LOI advanced site control within the Alberta corridor program.

2. Sep 15

   Program outline

   24h Move

   -0.7%

   Company outlined a 99 MW, ten-site Alberta development program with contracting before construction capital.

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, offtake, colocation, rfp

4 terms

behind-the-meter technical

"99 MW behind-the-meter power and compute program"

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.

offtake financial

"do not constitute contracted demand"

An offtake is a contract where a buyer commits in advance to purchase a company’s future output—such as raw materials, energy or finished goods—often at agreed volumes and prices. For investors, an offtake provides predictable revenue and lowers the risk that production will go unsold, similar to a long-term subscription or pre-order that helps a factory or mine secure funding and plan operations with greater confidence.

colocation technical

"as a colocation site"

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.

rfp technical

"RFP's in process for on-site generation equipment"

A request for proposal (RFP) is a formal document a buyer issues asking suppliers to submit detailed bids for providing specific goods, services, or projects. For investors it matters because winning an RFP can lead to new contracts, predictable revenue and proof a company can compete for large deals, while losing or delayed RFPs can signal pipeline risk — think of it like a competitive job posting or auction for a business opportunity.

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

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Company notes early demand interest across the coordinated program of ten 9.9 MW behind-the-meter sites and will continue to provide updates as the program is rolled out

WEST PALM BEACH, Fla., Sept. 24, 2026 (GLOBE NEWSWIRE) -- FingerMotion, Inc. (Nasdaq: FNGR) (“FingerMotion” or the “Company”) today announced that it has received indications of interest totaling approximately 52.5 megawatts of capacity within the 99 MW Alberta behind-the-meter power and compute program disclosed on September 15, 2026.

The program comprises ten 9.9 MW generation and data hall sites grouped into four campuses in the Brooks, Coronation, Fox Creek and Vulcan Zones, representing 99 megawatts of gross generation capacity in development and approximately 72 megawatts of aggregate continuous critical IT capacity. Each site is intended to be held in a dedicated project company of which FingerMotion is the sole shareholder. Development, construction and site operations are performed by BlueFlare Group Holdings Inc., which takes title to none of the project assets.

The indications of interest relate to capacity within the recently disclosed corridor and are consistent with the Company’s stated approach of seeking to contract capacity under long-term agreements before committing construction capital to any individual site. Indications of interest are not binding offtake agreements, do not constitute contracted demand, and do not guarantee that any customer contract will be executed on any particular terms or at all.

FingerMotion’s intended process remains to secure land with power, permit it, and contract capacity to offtake clients before initiating construction. Offtake clients may contract for a site as powered land on which they install their own modular data halls, as a colocation site, or as a turnkey facility. Each campus is sized below 10 MW to use the streamlined approval pathway for smaller power plants under Alberta Utilities Commission Rule 007, and each is to be held in its own subsidiary so that campuses can be permitted and contracted independently of one another.

“Power remains the scarce input for AI and high-performance computing,” said Jolie Kahn, Chief Executive Officer of FingerMotion. “Receiving indications of interest inside the 99 MW corridor so soon after we laid out the program is consistent with the demand we expected when we structured the sites as independently permitted, owner-operated campuses. We will continue to provide updates as we roll out the program—land, permits, contracting, and only then construction.”

We have provided a four-point matrix as a way for investors to measure our progress. We are pleased to provide an update from the original August 27, 2026 iteration.

Milestone	What “done” looks like	Status
		August 27, 2026 Press Release	September 24, 2026 Update
1. Site control	Land rights and a viable permitting path to build	Not yet announced. Several sites are in various stages of advanced discussion. No signed Commercial Term Sheet.	Two sites have been secured thru binding letters of intent, with definitive agreements to follow imminently; e.g.: Brooks Campus #1 and Hanna Campus #1. Both locations are expected to close in October.
2. Power	Generation, fuel supply or interconnection that actually delivers electricity	Not yet announced. Sites under consideration have, or are being structured around, on-site generation; redevelopment would add generation and storage. Not a grid-queue project.	RFP's in process for on-site generation equipment for both Brooks and Hanna.
3. Customers	Signed enterprise offtake for capacity	No FingerMotion offtake announced. The 9.9% Lyken stake closed August 17 as the demand-side first step. The Lyken/Swarmnet MOU (August 24) is non-binding and is Lyken’s, not the Company’s.	BlueFlare has received indications of interest from potential commercial offtakers for up to 52.5 MW.
4. Capital	Project financing closed against the asset and the contract	Not yet announced. Structure intended to be asset-level, not corporate-balance-sheet.	Not yet announced. Structure intended to be asset-level, not corporate-balance-sheet, and the Company is in discussions with various potential sources of capital.

The Company will continue to provide updates as it advances permitting, land assembly, gas-supply discussions, and customer engagement across the corridor.

About FingerMotion, Inc.

FingerMotion, Inc. (Nasdaq: FNGR) is a technology company historically focused on mobile payment, recharge, and data-analytics markets in the People’s Republic of China. Under current management, the Company is extending its strategy into enterprise AI and high-performance computing infrastructure in North America, including through its equity interest in Lyken AI Computing Inc., while evaluating its China operations.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, statements regarding the Company’s 99 MW Alberta development program; indications of interest; the number, size, location and timing of sites; anticipated permitting, construction and energization timelines; the anticipated structure of customer contracts; and expectations regarding additional updates as the program is rolled out.

These statements are based on management’s current expectations and are subject to significant risks and uncertainties that could cause actual results to differ materially. Indications of interest are non-binding and do not constitute executed offtake agreements. No customer offtake agreement has been executed, and there can be no assurance that any customer contract will be entered into on the terms described or at all. Additional risks include the Company’s ability to obtain permits on the anticipated timeline, to complete land acquisitions, to obtain project financing on acceptable terms or at all, to procure equipment as scheduled, to complete construction on budget, to secure natural gas supply, and to contract capacity on the commercial terms described or on any terms; changes in Alberta regulatory requirements; changes in commodity prices; competition; and the other risk factors described in the Company’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q.

Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Media / Investor Contact
Investor Relations
FingerMotion, Inc.
Email: ir@fingermotion.com

FAQ

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

Is FingerMotion's Alberta capacity interest contracted demand?

No. FingerMotion reported indications of interest totaling approximately 52.5 MW within its 99 MW Alberta program, but they are nonbinding, do not constitute contracted demand and do not guarantee a customer agreement.

What arrangements could FingerMotion offer customers at its Alberta sites?

Potential customers may contract for a site as powered land where they install their own modular data halls, as a colocation site or as a turnkey facility.

What is BlueFlare's role in FingerMotion's Alberta program?

BlueFlare Group Holdings performs development, construction and site operations but takes title to none of the project assets. FingerMotion intends for each site to be held in a dedicated project company of which it is the sole shareholder.

How does FingerMotion intend to finance its Alberta projects?

FingerMotion intends to arrange financing at the project-asset level rather than on its corporate balance sheet. Project financing has not been announced, and the company is in discussions with potential sources of capital.