Alset AI Ventures to Sell 9.9% of Lyken AI to FingerMotion

Alset AI Ventures Inc. has announced a share purchase agreement with FingerMotion, Inc. for the sale of a 9.9% stake in Lyken AI Computing. The transaction values Lyken at approximately US$5 million. FingerMotion will pay with 1,674,480 of its common shares, equating to US$500,000. This deal is pending TSXV approval and no cash will change hands.

Alset will retain 90.1% of Lyken post-transaction, and the shares received will have a six-month trading restriction. FingerMotion's investment aligns with its strategic interests in Lyken's cloud computing capabilities. This partnership aims to leverage both companies' strengths in AI and cloud services.

The transaction underscores FingerMotion's commitment to expanding into the AI and cloud computing market alongside established players like NVIDIA and Dell Technologies Canada. If approved, this will mark a significant collaboration between the two companies.