The memorandum of understanding is intended to operationalize Lyken as the customer-facing demand layer under FingerMotion’s existing BlueFlare development framework. The Company also reports ongoing, non-binding natural gas supply discussions for planned behind-the-meter generation at certain Alberta corridor sites. While these discussions are ongoing, no definitive commercial, supply, offtake or financing agreement has been executed.
WEST PALM BEACH, FL, Sept. 03, 2026 (GLOBE NEWSWIRE) -- FingerMotion, Inc. (Nasdaq: FNGR) (“FingerMotion” or the “Company”) today announced that it has entered into a non-binding memorandum of understanding dated September 2026 (the “MOU”) with Lyken AI Computing Inc., operating as Lyken.AI (“Lyken”), and BlueFlare Energy Solutions Inc. (“BlueFlare”). The Company also provided an update on its working relationship with BlueFlare Group Holdings Inc. and its affiliates and on discussions concerning natural gas supply for planned behind-the-meter (“BTM”) generation at certain Alberta development sites.
The MOU is intended to establish a preferred, non-exclusive demand-to-capacity matching framework that connects Lyken’s enterprise artificial intelligence (“AI”) and high-performance computing (“HPC”) client pipeline and Platform-as-a-Service requirements with potential modular BTM capacity evaluated or developed under FingerMotion’s existing BlueFlare alliance. The initial geographic focus is Alberta, British Columbia and Saskatchewan, Canada. The parties may consider other jurisdictions by written agreement.
Further to the Company’s August 27, 2026 announcement of its owner-operator strategy, the MOU is intended solely to supplement and support the existing FingerMotion-BlueFlare development framework by adding a coordinated process for evaluating qualified Lyken demand. It does not amend, replace, supersede, expand or otherwise affect any existing agreement among any of the parties, including any rights, restrictions, approval requirements or exclusivity provisions. Those existing agreements continue to control their subject matter.
Three Complementary Roles
Subject to existing agreements, diligence and definitive documentation, the parties presently contemplate the following indicative roles:
- Lyken — the customer-facing demand and managed-services layer, including identification and presentation of prospective enterprise workloads, definition of indicative compute, power-density, cooling, networking, storage, security, data-sovereignty and service-level requirements, and evaluation of managed compute, server and token optimization and enterprise deployment support.
- BlueFlare — FingerMotion’s primary Western Canadian development partner for BTM site origination and qualification, natural-gas and other agreed power solutions, design and engineering, modular construction, commissioning, load management, and ongoing energy and site operations, within BlueFlare’s existing mandate.
- FingerMotion — the contemplated owner-operator and project sponsor, leading evaluation of whether the Company or a designated project affiliate would sponsor, own or operate a project opportunity, together with commercial structuring, project-level capital evaluation and public-company coordination. FingerMotion has not committed under the MOU to fund, arrange, backstop or guarantee any project.
Preferred Demand-to-Capacity Matching
Subject to the existing FingerMotion-BlueFlare framework, other existing obligations, third-party rights, technical fit and project-specific definitive agreements, the parties intend to provide Lyken with early visibility into potential future BTM capacity being evaluated or developed through that framework and a preferred opportunity to present and match qualified enterprise workloads to such capacity.
The preferred framework relates to demand matching and project evaluation only. It does not reserve, allocate or guarantee capacity, grant Lyken exclusivity, or create a right of first refusal, option or ownership interest in any site, power asset or project. No site or capacity will be held for Lyken unless the applicable parties execute a written term sheet or definitive capacity-reservation or other agreement that expressly provides for such hold. Any priority, allocation or participation right will be negotiated separately for the applicable project opportunity.
FingerMotion completed its acquisition of a 9.9% interest in Lyken from Alset AI Ventures Inc. on August 17, 2026. Alset AI retains a 90.1% controlling interest. Under the terms of that transaction, FingerMotion may increase its position over time, subject to the conditions set out in the definitive agreements. The MOU intends to operationalize the customer-facing role for Lyken that the Company described in its August 27 strategy announcement.
BlueFlare Development Relationship
Over the past several months, FingerMotion and BlueFlare have continued to coordinate on site development. BlueFlare serves as engineering, procurement and construction partner on the program and is expected to bring compute demand to campuses it develops. The BlueFlare relationship has progressed from a single-project discussion to a multi-site development program. The parties have not announced a new definitive commercial agreement in connection with this update.
Corridor Model
The Company’s corridor approach contemplates locating compute capacity along existing natural gas infrastructure and generating electricity on site, rather than depending solely on utility interconnection queues and available grid capacity. Under this structure, generation would be co-located with load, with the objective of contracting energy at or near the wellhead or gathering system rather than at delivered utility rates.
Management believes this structure, if successfully implemented, may reduce time to energization relative to grid-interconnected projects and may improve visibility on power cost, which is expected to be a principal operating input for high-density compute. These outcomes remain subject to site control, permitting, financing, construction, and the execution of binding supply and offtake arrangements.
The corridor model is being evaluated for the Company’s initial Alberta development sites, where site identification is an ongoing process. Site identification does not constitute a commitment to construct, and development remains contingent on customary conditions, including those described below.
Gas Supply Discussions
FingerMotion is in discussions with more than one natural gas supplier and midstream counterparty regarding possible firm supply arrangements to support generation at its corridor sites. Topics under discussion include terms, volume, delivery points, and pricing mechanics suitable for long-dated behind-the-meter generation.
No definitive supply agreement has been executed. There can be no assurance that these discussions will result in a binding agreement or, if an agreement is executed, that the terms will be acceptable to the Company. The Company intends to provide further disclosure if and when a definitive agreement is entered into.
Project-by-Project Development; No Capital Commitment
The parties expect to evaluate opportunities on a project-by-project basis. Advancement of any project opportunity is expected to be subject to conditions that may include satisfactory site control, fuel supply, generation or interconnection, equipment availability, networking and connectivity; satisfactory customer diligence, credit support and binding off-take; acceptable technical, environmental and operational reviews; sufficient financing on acceptable terms; required board, investment-committee, lender, shareholder, stock-exchange, securities, governmental, regulatory and third-party approvals; and compliance with applicable sanctions, export-control, anti-bribery, anti-money-laundering, know-your-customer, end-user, end-use, privacy, environmental, energy, data-center and securities laws.
Consistent with the Company’s disclosed strategy, the parties intend to evaluate project-level financing structures that may include customer prepayments, capacity deposits, equipment financing, debt, equity, special-purpose vehicles, third-party infrastructure capital or other sources. No party has committed under the MOU to provide, arrange, backstop or guarantee financing, and no party is required to issue securities or incur debt under the MOU.
The MOU is non-binding and non-exclusive, other than specified confidentiality, public-announcement, term, cost-allocation, governing-law and related administrative provisions, and records the parties’ present intentions only. It does not establish pricing, minimum capacity, revenue, capital commitments, ownership percentages or development schedules. A party may decline to participate in a project opportunity at any time before it executes an applicable definitive agreement. This announcement does not disclose or imply a new site, a specific amount of secured power or compute capacity, a customer contract, an off-take commitment, project financing or expected revenue.
Management Commentary
“We have consistently viewed Lyken and BlueFlare as complementary parts of the same enterprise AI infrastructure strategy. This framework advances the plan we announced on August 27: FingerMotion evaluates projects as contemplated owner-operator, BlueFlare remains our primary development partner in Western Canada, and Lyken contributes the customer-facing path to qualified enterprise workloads and managed services. We can then determine, project by project, which opportunities warrant capital and definitive agreements.”
— Jolie Kahn, Chief Executive Officer, FingerMotion, Inc.
“The BlueFlare relationship has progressed from a single-project discussion to a multi-site development program. Securing firm gas supply remains a condition to converting identified corridor sites into contracted capacity and matching qualified Lyken demand to that capacity is how we intend to underwrite project-level capital rather than fund development from the corporate balance sheet.”
— Chris Polimeni, Chief Financial Officer, FingerMotion, Inc.
About FingerMotion, Inc.
FingerMotion, Inc. (Nasdaq: FNGR) is a technology company serving a growing base of users across the mobile payment, recharge and data-analytics markets in the People’s Republic of China. The Company continues to develop new tools and services for those users, with the long-term objective of expanding that base organically into a large and highly engaged community. FingerMotion is extending that strategy into the enterprise AI and cloud compute market through its equity position in Lyken AI Computing Inc., its owner-operator strategy and its existing development alliance with BlueFlare. Under the terms of the Lyken transaction, FingerMotion may increase its position over time, subject to the conditions set out in the definitive agreements. For more information, please visit www.fingermotion.com.
About Lyken.AI
Lyken.AI is Alset AI Ventures Inc.’s cloud compute business and is developing an integrated Platform-as-a-Service offering spanning managed compute, server and token optimization, secure storage, private low-latency networking and enterprise deployment support. Lyken’s model is intended to extend beyond infrastructure access through related technical coordination and support services. For more information, please visit www.lyken.ai.
About BlueFlare Energy Solutions Inc.
BlueFlare Energy Solutions Inc. is an Alberta-incorporated integrated developer, engineer and constructor of behind-the-meter energy and compute infrastructure in Western Canada, operating under its “From Wellhead to Workload” platform and its proprietary BALA™ (BlueFlare Adaptive Load Architecture™) load-following technology. BlueFlare originates, designs, constructs and supports digital-load infrastructure that co-locates high-performance compute inference capacity with legacy and continuing bitcoin mining loads used as a load-balancing and gas-continuity mechanism. BlueFlare is part of the BlueFlare Group Holdings Inc. corporate group. For more information, please visit www.goblueflare.com.
Investor Contact
FingerMotion, Inc.
Investor Relations
E: ir@fingermotion.com
W: www.fingermotion.com
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 such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements in this release that are not statements of historical fact — including statements regarding the MOU and the contemplated relationship among FingerMotion, Lyken and BlueFlare; the preferred demand-to-capacity matching framework; the Company’s relationship with BlueFlare; the status or expected outcome of gas supply discussions; the anticipated benefits of the corridor model; expected timing of energization; project-level financing; owner-operator, development and managed-services roles; and the development of the Company’s sites — are forward-looking statements. These statements are based on management’s current expectations and are subject to known and unknown risks and uncertainties, including that the MOU is non-binding and may be terminated; that the preferred demand-matching framework does not reserve, allocate or guarantee capacity, priority, exclusivity or project participation; that discussions do not result in definitive agreements; that existing FingerMotion-BlueFlare agreements and other obligations continue to control their subject matter; that financing is not obtained on acceptable terms or at all; that construction or energization is delayed; that natural gas prices or availability change materially; that customer opportunities may not become binding contracts; that site control, fuel, power generation, equipment, permits, networking, construction, commissioning or operations may be delayed, unavailable or more costly than anticipated; that export-control, sanctions, know-your-customer, end-user or end-use requirements may delay, condition or prevent performance; and other risks described in the Company’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K and subsequent periodic reports. Actual results may differ materially. The Company undertakes no obligation to update any forward-looking statement except as required by law.
This release does not constitute an offer to sell or a solicitation of an offer to buy any securities.
