FingerMotion (NASDAQ: FNGR) announced an agreement to acquire a 9.9% stake in Lyken AI Computing Inc., operating as Lyken.AI, from Alset AI Ventures (TSX.V: GPUS; OTCQB: GPUSF; FSE: 1R60) for $500,000 in FingerMotion common stock. The transaction, which is subject to TSXV approval on behalf of Alset AI, marks FingerMotion’s entry into the enterprise computing market and the first step in a broader strategy to build a recurring-revenue enterprise compute business alongside its mobile data and telecommunications operations. No cash consideration is payable at closing, and Alset AI is expected to retain a 90.1% interest in Lyken.
FingerMotion said it intends to build an enterprise offering encompassing GPU and cloud compute capacity, secure storage, private low-latency networking and deployment support, leveraging Lyken’s previously disclosed ecosystem that includes NVIDIA, Dell Technologies Canada and established data-center providers. The company plans to pursue enterprise compute as a distinct scalable business and may seek to increase its participation in Lyken and its underlying infrastructure over time, subject to commercial performance, capital availability and applicable regulatory and exchange requirements.
To view the full press release, visit https://ibn.fm/ByZLh
About FingerMotion, Inc.
FingerMotion is an evolving technology company with a core competency in mobile payment and recharge platform solutions in China. As the user base of its primary business continues to grow, the Company is developing additional value-added technologies to market to its users. The vision of the Company is to rapidly grow the user base through organic means and have this growth develop into an ecosystem of users with high engagement rates utilizing its innovative applications. Developing a highly engaged ecosystem of users would strategically position the Company to onboard larger customer bases. FingerMotion eventually hopes to serve over 1 billion users in the China market and eventually expand the model to other regional markets.
NOTE TO INVESTORS: The latest news and updates relating to FNGR are available in the company’s newsroom at https://ibn.fm/FNGR
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