FingerMotion Completes Acquisition of 9.9% Interest in Lyken AI Computing

About this update from Fingermotion, Inc.

Transaction Closes Following TSX Venture Exchange Approval; FingerMotion Formally Enters the Enterprise AI Compute Market WEST PALM BEACH, FL, Aug. 17, 2026 (GLOBE NEWSWIRE) -- FingerMotion, Inc. (Nasdaq: FNGR) ("FingerMotion" or the "Company"), a mobile data and telecommunications services company, today announced the completion of its previously announced acquisition of a 9.9% interest in Lyken AI Computing Inc., operating as Lyken.AI ("Lyken"), from Alset AI Ventures Inc. (TSXV: GPUS) ("Alset AI"). The transaction, announced on August 13, 2026, has closed following receipt of TSX Venture Exchange approval. FingerMotion has acquired 99,000 common shares of Lyken, representing 9.9% of Lyken's issued and outstanding common shares, in consideration for the issuance of 1,674,480 restricted common shares of FingerMotion. No cash consideration was payable at closing. Alset AI retains 90.1% of Lyken. "The Lyken transaction connects FingerMotion with a pipeline of prospective enterprise clients in what remains the most underserved segment of the data center market," said Jolie Kahn, CEO of FingerMotion, Inc. "Enterprise customers can fall between traditional retail colocation and hyperscale providers, particularly when they require specialized compute configurations and support. This investment gives FingerMotion a meaningful starting point for addressing that underserved demand as we grow our data center strategy." "We're thrilled to be closing this transaction, which adds a strategically aligned Nasdaq-listed shareholder to our Lyken business," said Adam Ingrao, Chief Executive Officer of Alset AI. "We look forward to working in partnership with the team at FingerMotion, building on Lyken's vendor ecosystem, enterprise traction and cloud compute opportunity pipeline." The completed 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. 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 r...

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