FingerMotion, Inc. announced it has entered into a definitive Share Purchase Agreement to acquire 100% of Newbit Technology Inc. for US$2.3 million in cash. The acquisition secures the surface tenure, permits, and infrastructure for a 9.9 MW behind-the-meter power site in Alberta, Canada, known as Brooks Campus #1.
Key Details
- Purchase Price: US$2.3 million in cash on a cash-free, debt-free basis, which includes US$460,000 in total deposits.
- Timeline: The agreement was signed on September 23, 2026, with the transaction expected to close on or before October 29, 2026.
- Acquired Assets: The deal includes the site's surface lease, development permits, pipeline infrastructure, and environmental registrations. Movable generating equipment is excluded.
- Closing Conditions: The closing is contingent upon several factors, including the execution of a new gas supply agreement with Pivotal Energy Partners and consent from the Eastern Irrigation District for the change of control.