FingerMotion (NASDAQ: FNGR) announced that it has entered into a non-binding term sheet with BlueFlare Group Holdings Inc., a Calgary-based developer of behind-the-meter power generation and modular high-performance computing infrastructure, regarding a potential business combination. The proposed transaction would create a North American infrastructure company focused on providing on-site power and computing capacity to enterprise customers. Under the proposed terms, BlueFlare shareholders and certain management and advisory parties would hold approximately 80% of the combined company on a fully diluted basis. Upon completion, FingerMotion would be renamed BlueFlare Inc. and trade on Nasdaq under the ticker symbol BFLR.
BlueFlare’s business model combines on-site power generation using Alberta natural gas with modular computing infrastructure, offering power, cooling and computing-ready space under long-term contracts without owning or financing computing hardware. Its modular facilities are designed to deliver capacity in months rather than years, with sites sized in 9.9-megawatt increments. FingerMotion CEO Jolie Kahn is expected to serve as CEO, president and board chair of the combined company, while Landon Ruszkowski would continue leading BlueFlare Canada Inc. The proposed transaction remains subject to a definitive merger agreement, shareholder approvals, financing requirements, third-party valuations and applicable regulatory and trading market approvals. Completion is not guaranteed.
To view the full press release, visit https://ibn.fm/b7G3X
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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