Lyken.AI Enters Non-Binding MOU with FingerMotion and BlueFlare to Support Enterprise AI Infrastructure Strategy

Framework positions Lyken as the customer-facing demand and managed-services layer for potential future capacity developed under FingerMotion's BlueFlare alliance

VANCOUVER, BC / ACCESS Newswire / September 3, 2026 / Alset AI Ventures Inc. (TSXV:GPUS)(OTCQB:GPUSF)(FSE:1R61, WKN:A40M0J) ("Alset AI", "Alset" or the "Company"), an artificial intelligence ("AI") venture company advancing innovation through strategic investment and cloud computing solutions, is pleased to announce that its 90.1%-owned cloud compute business, Lyken AI Computing Inc., operating as Lyken.AI ("Lyken"), has entered into a non-binding strategic memorandum of understanding dated September 2, 2026 (the "MOU") with BlueFlare Energy Solutions Inc. ("BlueFlare") and FingerMotion, Inc. (NASDAQ:FNGR) ("FingerMotion").

Further to FingerMotion's August 27, 2026 announcement of its strategic plan with BlueFlare, the MOU establishes an indicative implementation framework for the demand side of that plan. It is intended to connect Lyken's enterprise AI and high-performance computing ("HPC") client opportunity pipeline and Platform-as-a-Service requirements with potential modular behind-the-meter ("BTM") capacity evaluated or developed under FingerMotion's existing BlueFlare alliance, initially in Western Canada and in other jurisdictions the parties may agree upon.

Preferred Demand-to-Capacity Matching Framework

Subject to the existing FingerMotion-BlueFlare framework, other existing obligations, third-party rights, technical fit and project-specific definitive agreements, the parties intend to provide Lyken with early visibility into potential future BTM capacity being evaluated or developed through FingerMotion's BlueFlare alliance and a preferred opportunity to present and match qualified enterprise workloads to that capacity. Lyken would be able to present prospective client requirements - including jurisdiction, workload, power density, deployment timing, networking, storage, security and service-level needs - so that the parties can assess whether an opportunity within the existing development platform may provide an appropriate deployment path.

The preferred framework relates to demand matching and project evaluation only. It does not reserve, allocate or guarantee capacity, grant Lyken exclusivity or create a right of first refusal, option or ownership interest in any site, power asset or project. Any priority, capacity allocation, commercial right or project commitment would arise only under a definitive agreement for the applicable site or customer opportunity.

Three Complementary Roles

• Lyken - the customer-facing demand and managed-services layer, including enterprise client origination, workload qualification, compute architecture, managed compute, server and token optimization, secure storage, private low-latency networking and enterprise deployment support.

• FingerMotion - the contemplated owner-operator and project sponsor, leading evaluation of project ownership, commercial structures and project-level capital, subject in each case to definitive agreements and required approvals. FingerMotion has not committed to fund any project under the MOU.

• BlueFlare - FingerMotion's primary Western Canadian development partner for BTM site origination and qualification, natural-gas and other agreed power solutions, design and engineering, modular construction, commissioning, load management, and ongoing energy and site operations.

Strategic Alignment with FingerMotion

FingerMotion completed its acquisition of a 9.9% interest in Lyken from Alset on August 17, 2026. On August 27, 2026, FingerMotion publicly described its owner-operator strategy, BlueFlare's role as its primary development partner for BTM AI and HPC infrastructure across Alberta, British Columbia and Saskatchewan, and Lyken's role as the customer-facing path to contracted enterprise workloads and managed services. The MOU is intended to operationalize that demand-side connection. It supplements, and does not amend, replace, supersede or expand, the existing FingerMotion-BlueFlare memorandum of understanding or any other agreement among the parties. Those existing agreements continue to control their subject matter, including any rights, restrictions or exclusivity provisions.

"Power availability is increasingly the gating item between enterprise demand and operating AI infrastructure¹," said Adam Ingrao, Chief Executive Officer of Alset AI. "This MOU is designed to operationalize the customer-facing role for Lyken that FingerMotion described in its August 27 strategy, while preserving FingerMotion's owner-operator direction and BlueFlare's development mandate. It gives the parties a disciplined way to assess where Lyken-originated workloads may fit within that existing platform."

"We have consistently viewed Lyken and BlueFlare as complementary parts of the same enterprise AI infrastructure strategy," said Jolie Kahn, Chief Executive Officer of FingerMotion. "This framework advances the plan we announced on August 27: FingerMotion evaluates projects as contemplated owner-operator, BlueFlare remains our primary development partner in Western Canada, and Lyken contributes the customer-facing path to qualified enterprise workloads and managed services. We can then determine, project by project, which opportunities warrant capital and definitive agreements."

"BlueFlare's platform is built to originate and deploy power-backed modular infrastructure in Western Canada," said Landon Ruszkowski, Chief Executive Officer of BlueFlare. "Within our existing development alliance with FingerMotion, Lyken can contribute qualified enterprise workloads and managed-service requirements. The framework is intended to focus development activity on opportunities where site readiness, power, customer demand and project financing can come together."

Project-by-Project Development

The parties expect to evaluate opportunities on a project-by-project basis, with FingerMotion leading the evaluation of owner-operator, commercial and project-capital structures for opportunities it may sponsor and BlueFlare leading or coordinating development work within its existing mandate. Potential definitive agreements may address site control, fuel supply, power generation, engineering, procurement and construction, equipment and compute procurement, hosting or managed services, customer off-take, service levels, operations and maintenance, project ownership, financing, security, regulatory approvals and economic allocation. The MOU does not establish pricing, minimum capacity, revenue, capital commitments, ownership percentages or development schedules.

The MOU is non-binding and non-exclusive and records the parties' present intentions only. It does not alter the existing FingerMotion-BlueFlare relationship or obligate any party to fund, acquire, develop or operate a project; reserve, provide, purchase or take power or compute capacity; enter into a customer, financing or other commercial agreement; or continue negotiations unless and until applicable definitive agreements are executed. Advancement of any opportunity would be subject to, among other matters, site and power availability, technical and commercial due diligence, customer credit and binding off-take, financing, corporate approvals, applicable exchange acceptance, permits and regulatory approvals, fuel and equipment availability, networking and connectivity, and compliance with applicable laws, including export-control, sanctions, know-your-customer, end-user and end-use requirements. There can be no assurance that the parties will negotiate or enter into any definitive agreement, or that any project or customer opportunity contemplated by the MOU will be funded, developed, completed or become operational.

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 BlueFlare Energy Solutions Inc.

BlueFlare Energy Solutions Inc. is an Alberta-incorporated integrated developer, engineer and constructor of behind-the-meter energy and compute infrastructure in Western Canada, operating under its "From Wellhead to Workload" platform and its proprietary BALA™ (BlueFlare Adaptive Load Architecture™) load-following technology. BlueFlare originates, designs, constructs and supports digital-load infrastructure that co-locates high-performance compute inference capacity with legacy and continuing bitcoin mining loads used as a load-balancing and gas-continuity mechanism. BlueFlare is part of the BlueFlare Group Holdings Inc. corporate group. For more information, please visit www.goblueflare.com.

About FingerMotion, Inc.

FingerMotion, Inc. (Nasdaq:FNGR) 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. FingerMotion is extending that strategy into the enterprise AI and cloud compute market through its equity position in Lyken AI Computing Inc., its owner-operator strategy and its existing development alliance with BlueFlare. Under the terms of the Lyken transaction, FingerMotion may increase its position over time, subject to the conditions set out in the definitive agreements. For more information, please visit www.fingermotion.com.

About Alset AI Ventures Inc.

Alset AI is an AI-focused venture investment platform dedicated to sourcing, funding and developing companies across the artificial intelligence value chain. The Company seeks to provide investors with diversified exposure to emerging applications and infrastructure that enable advancements in AI technologies.

For further information about Alset AI Ventures Inc., please contact:

Investor Relations

Adam Ingrao
Chief Executive Officer
T: 236.312.6744
E: ir@alsetai.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note regarding Forward-Looking Statements

This press release contains certain forward-looking statements and forward-looking information (collectively, "forward-looking statements") regarding the Company, including statements relating to the MOU and the contemplated strategic relationship among Alset, Lyken, BlueFlare and FingerMotion; the parties' ability to identify, evaluate, structure, finance and advance BTM energy and compute infrastructure opportunities; the intended preferred demand-to-capacity matching framework and Lyken's potential early visibility into future capacity being evaluated or developed under FingerMotion's BlueFlare alliance; the matching of Lyken's client opportunity pipeline and workload requirements with potential projects; potential customer off-take, project ownership, financing, construction, commissioning and operation; FingerMotion's contemplated owner-operator role; BlueFlare's development role; Lyken's customer-facing and managed-services role; and Lyken's Platform-as-a-Service strategy, optimization capabilities, growth strategy and ability to execute and scale.

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. Forward-looking statements are based on assumptions, including that the parties will continue to cooperate; identify commercially and technically suitable projects; obtain required corporate, customer, lender, regulatory and third-party approvals; secure sufficient capital, site rights, fuel supply, generation equipment, compute hardware, networking and other infrastructure; convert qualified customer opportunities into binding off-take; and negotiate and execute definitive agreements on acceptable terms.

Such statements are subject to risks and uncertainties, including that the MOU is non-binding and may be terminated; the preferred demand-matching framework does not reserve, allocate or guarantee capacity, priority, exclusivity or project participation; existing FingerMotion-BlueFlare agreements and other obligations continue to control their subject matter; the parties may not identify a suitable opportunity or negotiate or enter into any definitive agreement; existing obligations or third-party rights may limit available sites or capacity; customer opportunities may not become binding contracts; customers may delay, modify or cancel purchasing decisions; project-level financing may be unavailable or more dilutive or costly than expected; site control, fuel, power generation, equipment, permits, networking, construction, commissioning or operations may be delayed, unavailable or more costly than anticipated; commodity prices, emissions requirements, community concerns, regulatory change, technological obsolescence, supply-chain constraints, competition and pricing pressure may affect project viability; and export-control, sanctions, know-your-customer, end-user or end-use requirements may delay, condition or prevent performance.

Actual results may differ materially. Forward-looking statements are made as of the date hereof and are qualified by these cautionary statements. Except as required by applicable securities laws, Alset undertakes no obligation to update them. Additional risks are described in Alset's public filings available at www.sedarplus.ca. This release does not constitute an offer to sell or a solicitation of an offer to buy any securities.

¹Source: Inflect, "Data Center Power Shortage 2026: Why Grid Capacity Is Now the Bigger Constraint Than GPUs," July 21, 2026, https://inflect.com/blog/data-center-power-shortage-2026-why-grid-capacity-is-now-the-bigger-constraint-than-gpus.

SOURCE: Alset AI Ventures Inc.