FingerMotion Announces Non-Binding Expression of Interest for Up to 7 MW AI/HPC Colocation Capacity at Brooks Campus #1 Expected to Generate in Excess of $100 Million in Contracted Revenue Over Initial Five-Year Term

FingerMotion announces a non-binding AI data center deal with $100 million revenue potential.

What the company is saying

FingerMotion, through its subsidiary Brooks Campus No. 1 Inc., has entered into a non-binding Letter of Intent and Expression of Interest with Cascadia Industries Ltd. for up to 7 MW of liquid-cooled colocation capacity at Brooks Campus #1 in Alberta. The company frames this as a transformative opportunity, highlighting the potential for over $100 million in contracted revenue over five years if definitive agreements are reached. The announcement emphasizes the technical readiness of the facility, designed for NVIDIA GB300 NVL72-class infrastructure, and the strong demand for near-term, firm AI/HPC capacity in Alberta. CEO Jolie Kahn positions the deal as evidence of market demand and the company's ability to deliver next-generation infrastructure, while BlueFlare Energy Solutions Inc. is named as the developer and operator. The tone is highly positive and forward-looking, but the company is clear that the agreement is not binding and that revenue is contingent on further negotiation and execution of definitive documentation. The announcement also references a broader 99 MW Alberta program, positioning this site as the first step.

What the data suggests

The disclosed figures are entirely forward-looking: the deal could generate over $100 million in contracted revenue over five years, with estimated annual revenue of $20 to $25 million when fully operational. The agreement covers up to 7 MW of capacity, with an additional 3 MW expansion right at a nearby site. The schedule targets initial service six months after a future binding agreement, and full capacity within 12 to 14 months. No actual contracted revenue, signed definitive agreement, or client identity is disclosed. The only realised facts are the non-binding Letter of Intent, the 30-day exclusivity period for negotiations, and the facility's technical specifications and location. All financial projections are conditional, and there is no evidence of current operational revenue, cash flow, or profitability for this project. The announcement provides detailed technical and commercial terms, but the gap between headline revenue figures and realised business is significant.

Analysis

The announcement is highly positive in tone, emphasizing the potential for over $100 million in contracted revenue and the technical capabilities of the Brooks Campus #1 site. However, all major financial and operational claims are forward-looking and contingent on the execution of definitive agreements; no binding contract, client identity, or realised revenue is disclosed. The only realised facts are the signing of a non-binding Letter of Intent and Expression of Interest, the facility's location and design, and the exclusivity period for negotiations. The projected revenue, capacity, and timeline are all aspirational, with benefits not expected for at least 6-14 months after a future binding agreement, and the full five-year revenue horizon is even further out. The capital intensity is high, as the project contemplates significant infrastructure and revenue but with no immediate earnings impact or committed offtake. The language inflates the signal by presenting large revenue figures and technical readiness as if they are imminent, when in fact they are entirely conditional.

Risk flags

• ●The agreement is non-binding and subject to a 30-day exclusivity period, so there is no guarantee that a definitive contract will be signed or that any revenue will be realized. This exposes FingerMotion to the risk of negotiations failing or the client withdrawing.
• ●All financial projections, including the $100 million contracted revenue and $20 to $25 million annual revenue, are contingent on future agreements and operational milestones that have not yet been achieved. If definitive agreements are not reached or if project execution is delayed, these figures may never materialize.
• ●The identity of the end client is not disclosed, and Cascadia is acting as an intermediary, which adds counterparty and execution risk. The lack of a direct, named offtake agreement increases uncertainty about actual demand and contract enforceability.
• ●The project's capital intensity is high, with significant infrastructure and operational requirements for 7 MW of AI/HPC capacity, plus a potential 3 MW expansion. Any delays in construction, permitting, gas supply, or equipment availability could materially impact timelines and costs.
• ●The announcement references a larger 99 MW Alberta program, but provides no evidence of progress beyond this initial non-binding step. The broader program's success is therefore speculative and not supported by current contracts or operational results.

Bottom line

FingerMotion's announcement is aspirational, presenting a potential $100 million revenue opportunity from a non-binding agreement for 7 MW of AI data center capacity in Alberta. The technical and commercial details are specific, but all major financial claims are conditional on future negotiations and execution of definitive contracts. No revenue, client commitment, or operational milestones have been achieved, and the earliest possible benefit is at least six months away after a binding agreement. The risks include deal execution, counterparty opacity, and high capital requirements, with no assurance that the projected revenue or capacity will be realized. Investors should treat the headline figures as contingent and monitor for a signed, binding agreement and named client before assigning value. The most important takeaway is that this is a preliminary step with significant upside only if the deal closes and operations commence as projected.

Announcement summary

(NASDAQ:FNGR) FingerMotion, Inc. announced that its wholly owned subsidiary, Brooks Campus No. 1 Inc., has entered into a non-binding Letter of Intent and Expression of Interest with Cascadia Industries Ltd., doing business as Cascadia Power, acting for itself and on behalf of a colocation client, regarding up to 7 MW of critical IT liquid-cooled colocation capacity at Brooks Campus #1 in the County of Newell, Alberta. The commercial terms contemplated under the Expression of Interest could generate in excess of $100 million in contracted revenue over an initial five-year term if definitive agreements are reached. Brooks Campus #1 is a behind-the-meter, natural gas-powered AI/HPC data center located approximately 3.6 km northeast of the Hamlet of Tilley, adjacent to the Bantry gas plant. BlueFlare Energy Solutions Inc. is the developer, EPC contractor, and operator of the facility. The capacity is designed for NVIDIA GB300 NVL72-class infrastructure with liquid cooling. Cascadia has advised that the client is interested in contracting up to 7 MW of firm critical IT capacity to be delivered in tranches at Brooks Campus #1. The contemplated schedule targets an initial Ready-for-Service date for the first tranche six months from the effective date of a subsequent binding agreement, with the site expected to reach its full capacity within 12 to 14 months. When fully operational, estimated annual revenue is approximately $20 to $25 million per year, supporting contracted revenue in excess of $100 million over the initial five-year term. The client would also have an election right for an additional 3 MW of Expansion Capacity at a nearby second site that shares gas supply, fiber, and staff. The Expression of Interest includes a 30-day exclusivity period during which the parties will negotiate in good faith toward a binding letter of intent and definitive colocation agreements, subject to customary conditions, diligence, and execution of definitive documentation. This Expression of Interest advances FingerMotion’s previously announced 99 MW Alberta behind-the-meter power and compute program, of which Brooks Campus #1 is the first site. Cascadia introduced the client and is acting on its behalf under the Expression of Interest, but is not itself the offtake client. Jolie Kahn, Chief Executive Officer of FingerMotion, stated that the Expression of Interest reflects strong demand for near-term, firm behind-the-meter AI/HPC capacity in Alberta and highlighted the compatibility of Brooks Campus #1 with next-generation NVIDIA systems. Landon Ruszkowski, Chief Executive Officer of BlueFlare Energy Solutions Inc., commented that the Expression of Interest demonstrates the efficiency of their behind-the-meter natural gas model for delivering critical IT capacity for high-density AI workloads.

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