FingerMotion Buys 9.9% of Lyken AI for $500K in Stock, Entering Enterprise Compute
FNGR sits 88% above its 52-week low of $0.17 on light trading volume (0.2× avg).
Summary
FingerMotion is acquiring a 9.9% stake in Lyken AI Computing for $500,000, paid entirely in restricted stock. This marks its first move into enterprise AI compute, a pivot from its collapsing telecom business. The deal gives FingerMotion access to Lyken's GPU supply relationships with NVIDIA and Dell, positioning it to offer managed compute services. The company is issuing 1,674,480 shares at a price based on the prior day's close plus $0.01, which is modestly dilutive given its $17.7M market cap. The transaction requires TSXV approval and is expected to close shortly. This follows a 92% revenue collapse and a going concern warning, so the strategic shift is a high-stakes bet on a new revenue stream.
At the time of this announcement, FNGR was trading at $0.32 on NASDAQ in the Technology sector, with a market capitalization of approximately $17.7M. The 52-week trading range was $0.17 to $2.20. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.