FingerMotion to buy Newbit for $2.3M, securing 9.9 MW Alberta power site
What's the deal? Nasdaq-listed FingerMotionDealroom has a profile for this one. Try Dealroom → has signed a definitive agreement to acquire 100% of Newbit TechnologyDealroom has a profile for this one. Try Dealroom →, a British Columbia corporation, for $2.3 million in cash. The deal, dated September 23, 2026, is structured on a cash-free, debt-free basis, and closing is targeted on or before October 29, 2026.
What's the endgame? The acquisition secures NewbitDealroom has a profile for this one. Try Dealroom →'s rights to FingerMotion's previously disclosed 9.9 MW behind-the-meter site in the County of Newell, Alberta, known as Brooks Campus #1. Newbit holds the surface tenure, development and building permits, pipeline and metering infrastructure, and Alberta Utilities Commission Rule 007 registration tied to the site.
Why now? The agreement restates and implements a binding memorandum of understanding dated September 8, 2026, and a binding commitment announced two days later.
What are the terms? A deposit of $230,000 has already been paid and is held in trust, with a further $230,000 due on execution. The remaining roughly $1.84 million is payable at closing, with no indemnity holdback or escrow.
Fixed civil works, foundations, drainage, and fencing are included, but generating equipment and other movable plant are excluded and must be removed before closing. FingerMotion is acquiring the fixed improvements on an as-is, where-is basis as to physical condition.
What could go wrong? The prior gas supply agreement was terminated after offtake ceased. Newbit and Pivotal Energy PartnersDealroom has a profile for this one. Try Dealroom → have signed a letter of intent for a new supply deal, and executing that agreement — plus Pivotal's consent to the change of control — is a condition of closing. Written consent from the Eastern Irrigation DistrictDealroom has a profile for this one. Try Dealroom →, which holds the surface lease, is also required.
The signal: By buying the entity that holds the permits, tenure, and grid registration rather than building from scratch, FingerMotion is fast-tracking control of a power-ready site — a growing priority as demand for energy-intensive infrastructure pushes companies to lock down permitted capacity.
Read more: finance.yahoo.com
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