FingerMotion acquires 9.9% stake in Lyken AI Computing

Transaction Establishes FingerMotion's Initial Entry in Enterprise Cloud and GPU Compute; Company Outlines Strategy to Serve Enterprise Compute Demand Across Capacity, Connectivity, Data and Managed Deployment

WEST PALM BEACH, Aug. 13, 2026 (GLOBE NEWSWIRE) -- FingerMotion, Inc. (Nasdaq: FNGR) (“FingerMotion” or the “Company”), a mobile data and telecommunications services company, today announced that it has entered into a share purchase agreement dated August 12, 2026 (the “Agreement”) with Alset AI Ventures Inc. (TSXV: GPUS) (OTCQB: GPUSF) (FSE: 1R60) (“Alset AI”) and Lyken AI Computing Inc., operating as Lyken.AI (“Lyken”), pursuant to which FingerMotion is acquiring 99,000 common shares of Lyken from Alset AI, representing 9.9% of Lyken's 1,000,000 issued and outstanding common shares immediately prior to closing, for a purchase price of $500,000 payable solely in common stock of the Company (the “Transaction”). Final closing of the transaction is subject to approval of the TSXV on behalf of Alset AI.

The Transaction marks FingerMotion's formal entry into the enterprise computing market and is the first step in a broader strategy to build a recurring-revenue enterprise compute franchise alongside the Company's existing mobile data and telecommunications operations.

At final closing, FingerMotion shall issue to Alset AI 1,674,480 FingerMotion restricted common shares determined by dividing $500,000 by the sum of (i) the Nasdaq Official Closing Price of one FingerMotion common share on the trading day immediately preceding the closing date and (ii) $0.01, with any fractional share rounded down to the nearest whole share. The FingerMotion shares are to be issued in a private placement transaction, exempt from registration, under Section 4(a)(2) of the Securities Act of 1933, as amended. No cash consideration is payable by FingerMotion at closing. Following closing, Alset AI is expected to retain 90.1% of Lyken.

A Pivotal Step into Enterprise Computing

“This is a deliberate and intentional pivotal move for FingerMotion,” said Jolie Kahn, Chief Executive Officer of FingerMotion. “For a decade the Company has operated at the intersection of telecommunications infrastructure and data at enterprise scale. Enterprise computing is the natural extension of that capability, and it is where we intend to build the next phase of this Company. Compute has become the constraint on what enterprises can actually deploy — not ambition, not talent, but access to capacity that is available, governed and supportable. Lyken gives us a real operating platform to serve that need, and this investment is the starting point in this journey.”

The Company intends to pursue enterprise compute as a distinct and scalable line of business, with the objective of moving from an initial minority position toward a larger participation in Lyken and in the underlying infrastructure that supports it, subject to commercial performance, capital availability and applicable regulatory and Exchange requirements.

How FingerMotion Intends to Serve the Enterprise Compute Segment

Enterprise buyers of AI and cloud compute are consistently underserved by the two dominant supply models available to them: hyperscale platforms that are difficult to secure allocation from and inflexible on terms, and bare-metal GPU brokers that deliver hardware but not accountability. FingerMotion's strategy is to serve the segment in between — the enterprise that requires committed capacity, a named counterparty, and a professional operating partner that can carry the deployment through to production. The Company intends to build that offering across five components:

Contracted capacity, not speculative build. Through Lyken, FingerMotion gains access to an established vendor and supply ecosystem — including previously disclosed relationships with NVIDIA, Dell Technologies Canada and established data-center providers — allowing the Company to offer enterprise customers GPU and cloud compute capacity without first committing balance sheet to greenfield construction. Capacity is contracted against demand rather than built ahead of it.

A managed service, not a hardware rental. The Company's intended offering spans compute, secure storage, private low-latency networking and enterprise deployment support, delivered as an integrated service with defined performance and support obligations. FingerMotion believes the enterprise segment will consolidate around providers that take responsibility for the outcome, not only for the instance.

Telecommunications-grade operating discipline. FingerMotion's core business is built on carrier-grade systems where uptime, throughput, provisioning and settlement are contractual obligations measured in real time. The Company intends to apply the same operating discipline — service-level accountability, capacity planning, and transaction integrity at volume — to enterprise compute delivery.

Distribution through existing enterprise and carrier relationships. FingerMotion expects to introduce enterprise compute and AI infrastructure services into its existing commercial channels and enterprise relationships, and to explore joint go-to-market activity with Lyken across both companies' networks. The Company also intends to evaluate opportunities where its own data and analytics workloads can be run on the platform, aligning internal demand with third-party capacity.

Cost of power as a source of durable margin. Compute economics are ultimately energy economics. FingerMotion intends to prioritize capacity sourced from low-cost, reliable and, where available, behind-the-meter power configurations, on the view that long-term competitiveness in enterprise compute will be determined by delivered cost per kilowatt-hour as much as by hardware generation.

“We are not trying to out-build the hyperscalers,” added Ms. Kahn. “We are building the layer the enterprise market is actually asking for — capacity that is contracted, connectivity that is private and predictable, deployment support from people who have run production systems, and a cost base anchored in power we can price over the long term. We believe those four factors are what turn a pilot into a production workload, and that is the segment we intend to fulfill.”

Transaction Highlights

Strategic entry point: FingerMotion becomes a strategic minority shareholder in an operating enterprise cloud compute business, with the stated intention of expanding its participation over time.

Capital efficiency: Consideration of $500,000 is payable entirely in FingerMotion equity. No cash consideration is payable at closing, preserving the Company's liquidity for commercial deployment.

Aligned counterparty: Alset AI is expected to retain 90.1% of Lyken and will hold FingerMotion common shares following closing, aligning both companies to the growth of the platform.

Established commercial platform: Lyken's previously disclosed ecosystem includes NVIDIA, Dell Technologies Canada and established data-center providers, supporting GPU compute, secure storage, private networking and related enterprise services.

Existing enterprise traction: Lyken has a previously announced cloud compute services relationship with a leading multinational technology and telecommunications company.

Alset AI Perspective

“FingerMotion's investment adds a strategically aligned, Nasdaq-listed shareholder as Lyken advances its cloud compute opportunity pipeline,” said Adam Ingrao, Chief Executive Officer of Alset AI. “We see clear synergies between Lyken's infrastructure and vendor ecosystem and FingerMotion's enterprise reach.” Market Backdrop

Independent industry forecasts continue to point to sustained demand for data-center and AI compute capacity. The International Energy Agency projects global data-center electricity consumption will roughly double from 485 TWh in 2025 to 950 TWh in 2030, while electricity consumption attributable to AI-focused data centers is projected to triple over the same period.1 These forecasts are third-party estimates and are not assurances of demand for Lyken's or FingerMotion's services or of either company's future performance.

International Energy Agency, “Key Questions on Energy and AI — Executive Summary” (2026), https://www.iea.org/reports/key-questions-on-energy-and-ai/executive-summary .

About FingerMotion, Inc.

FingerMotion 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 — scale the Company believes will support relationships with larger, higher-value customers over time. The Company also evaluates emerging technologies for adjacent opportunities.

FingerMotion is extending that strategy into the enterprise AI and cloud compute market through its equity position in Lyken AI Computing Inc. Under the terms of the transaction, the Company may increase that position over time, subject to the conditions set out in the definitive agreements.

About Lyken.AI

Lyken.AI is Alset AI's cloud compute business, providing access to outsourced cloud compute server capacity and related technical coordination and support services. Lyken is developing an integrated offering spanning compute infrastructure, secure storage, private low-latency networking and enterprise deployment support. For more information, please visit www.lyken.ai .

About Alset AI Ventures Inc.

Alset AI is an AI-focused venture investment platform dedicated to sourcing, funding, and developing companies across the artificial intelligence value chain. The Company seeks to provide investors with diversified exposure to emerging applications and infrastructure that enable advancements in AI technologies.

Investor and Media Contact

FingerMotion, Inc. E: investors@fingermotion.com W: www.fingermotion.com

Cautionary Note Regarding 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 is intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, statements regarding the Transaction; the anticipated terms, consideration, timing and completion of the Transaction; the number and value of FingerMotion common shares to be issued; the Company's entry into and strategy for the enterprise computing market; the Company's intention to expand its participation in Lyken or in related infrastructure over time; the intended scope, components, delivery model and competitive positioning of the Company's enterprise compute offering; expected access to capacity, vendors, data centers, connectivity and power; anticipated go-to-market activity, customer demand, pipeline conversion and revenue; expectations regarding cost of power and delivered compute economics; and the expected strategic relationship among FingerMotion, Lyken and Alset AI.

Forward-looking statements are typically identified by words such as “will”, “intend”, “anticipate”, “expect”, “believe”, “plan”, “potential”, “project”, “estimate”, “target”, “continue”, “position”, “may”, “might”, “could” and “should”. These statements are predictions based on assumptions, including that the parties will finalize and perform the Agreement as contemplated; that required corporate, exchange and regulatory matters will be completed; that the Company will be able to identify, contract and deliver commercially viable enterprise compute offerings; that Lyken will maintain access to vendors, infrastructure, power and customers; and that general economic, capital-market, technology and regulatory conditions will not change materially.

Forward-looking statements are not guarantees of future performance. Actual results could differ materially due to risks and uncertainties including the failure to satisfy closing conditions; changes to the purchase price mechanics or transaction structure; fluctuations in FingerMotion's share price or foreign-exchange rates; restrictions on the issuance, listing, transfer or resale of securities; the Company's limited operating history in enterprise computing; competition from hyperscale and specialized compute providers; GPU, data-center, power and supply-chain constraints; inability to convert pipeline opportunities into binding contracts; customer non-renewal, termination or delayed purchasing decisions; pricing pressure and rapid technological change; the availability and cost of capital required to expand the Company's participation in Lyken or in related infrastructure; third-party consent and confidentiality limitations; and different accounting or tax outcomes than expected. This list is not exhaustive.

Additional information concerning these and other risk factors is contained in FingerMotion's most recent Annual Report on Form 10-K and subsequent filings with the U.S. Securities and Exchange Commission, available at www.sec.gov . All forward-looking statements are expressly qualified by these cautionary statements and are made as of the date of this press release. FingerMotion undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities.

SOURCE: FingerMotion, Inc.

Globe Newswire

August 13, 2026 - 6:15 AM PDT

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