Lyken, in which FingerMotion holds a 9.9% equity interest, outlines indicative framework for potential five-year commercial arrangement supporting large-scale AI inference workloads and token optimization

WEST PALM BEACH, FL, Aug. 25, 2026 (GLOBE NEWSWIRE) -- FingerMotion, Inc. (NASDAQ:FNGR) ("FingerMotion" or the "Company"), a mobile data and telecommunications services company expanding into the enterprise AI compute market, today noted that Lyken AI Computing Inc., operating as Lyken.AI ("Lyken"), announced this morning they entered into a non-binding memorandum of understanding dated August 24, 2026 (the "MOU") with Singapore-based SWARMNET SOLUTIONS PTE. LTD. ("Swarmnet").

FingerMotion acquired a 9.9% interest in Lyken from Alset AI Ventures Inc. (TSXV:GPUS) in an all-stock transaction valued at $500,000 that closed on August 17, 2026. Alset AI retains a 90.1% controlling interest in Lyken.

The MOU outlines an indicative framework under which Lyken would lease, host, manage and/or otherwise make available a 128-node NVIDIA B300 AI compute cluster to Swarmnet for inference workloads, together with token optimization services and related commercial arrangements. The contemplated service is intended to support Lyken’s broader Platform-as-a-Service strategy, combining managed compute with server and token optimization.

The contemplated arrangement contemplates an indicative five-year term beginning at service commencement, with aggregate indicative revenues to be determined and disclosed upon execution of definitive agreements. Final hardware configuration, deployment location and schedule, networking, storage, reserve capacity, acceptance testing, service levels, support requirements and other commercial terms would be established only in definitive agreements.

"This MOU reflects the type of enterprise-scale opportunity that first attracted FingerMotion to Lyken," said Jolie Kahn, Chief Executive Officer of FingerMotion. "Our 9.9% stake gives us meaningful exposure to Lyken’s Platform-as-a-Service strategy as it pursues large-scale AI inference deployments. The contemplated 128-node B300 cluster is consistent with the specialized compute configurations and managed services that enterprise customers require and that remain underserved between traditional retail colocation and hyperscale providers. Progress remains subject to funding, definitive agreements and other conditions, but the MOU underscores the pipeline we referenced when we closed the Lyken investment."

Progression of the opportunity is expressly subject to Lyken securing sufficient funding to procure, reserve and deploy the contemplated hardware and associated infrastructure. It is also subject to negotiation and execution of definitive agreements, due diligence, internal approvals (including, if applicable, acceptance by the TSX Venture Exchange), satisfactory credit support, hardware and data-center availability, and compliance with applicable export-control, sanctions, end-user and end-use requirements.

The MOU is non-binding and non-exclusive and records the parties’ present commercial intentions only. Neither party has any binding obligation to make a payment, reserve capacity, procure equipment, provide or take capacity, or enter into the contemplated transaction unless and until definitive agreements are executed. There can be no assurance that Lyken will secure the required funding, that definitive agreements will be entered into, or that the proposed deployment will proceed on the terms contemplated or at all.

About Lyken.AI

Lyken.AI is Alset AI’s cloud compute business and is developing an integrated Platform-as-a-Service offering spanning managed compute, server and token optimization, secure storage, private low-latency networking and enterprise deployment support. Lyken’s model is intended to extend beyond infrastructure access through related technical coordination and support services. For more information, please visit www.lyken.ai.

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.

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 Company & Lyken, including statements relating to the MOU; the potential commercial relationship between Lyken and Swarmnet; the contemplated 128-node B300 AI compute deployment; the proposed five-year term, inference workloads, token optimization services, hardware configuration, deployment location and schedule, service commencement, service levels and other commercial terms; Lyken’s ability to secure sufficient funding on acceptable terms; the negotiation and execution of definitive agreements; the availability, procurement, reservation, deployment and operation of B300 compute hardware and associated data-center, power, networking and storage infrastructure; customer credit support; compliance with applicable export-control, sanctions, end-user and end-use requirements; Lyken’s Platform-as-a-Service strategy, optimization capabilities, platform economics, growth strategy and ability to execute and scale; and FingerMotion’s strategy with respect to its investment in Lyken and the enterprise AI compute market.

Forward-looking statements normally contain words such as "will," "intend," "anticipate," "could," "should," "may," "might," "expect," "estimate," "plan," "potential," "believe," "target," "continue" and similar terms. Such statements are subject to risks and uncertainties, including that the MOU is non-binding and may be discontinued; the parties may not agree on definitive terms or execute definitive agreements; Lyken may not obtain sufficient financing on acceptable terms or at all; required customer prepayments or credit support may not be received; B300 hardware, data-centre space, power, networking or related infrastructure may be unavailable, delayed or more costly than anticipated; deployment, integration, acceptance, performance, security or service-level challenges may arise; expected utilization, optimization benefits or platform economics may not be realized; customer requirements or demand may change; required governmental, regulatory or third-party authorizations may not be obtained; export-control, sanctions, know-your-customer, end-user or end-use concerns may delay, condition or prevent performance; and competition, pricing pressure, technological change, supply-chain constraints and changes in applicable laws may adversely affect the contemplated opportunity.

Forward-looking statements are not guarantees of future performance. Actual results could differ materially due to risks and uncertainties including 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 business; restrictions on the issuance, listing, transfer or resale of securities; fluctuations in FingerMotion's share price or foreign-exchange rates; 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.

For further information about FingerMotion, Inc., please contact:

Investor Relations

FingerMotion, Inc.

Email: ir@fingermotion.com

Website: www.fingermotion.com