FG Nexus (NASDAQ: FGNX) shares were flat Wednesday, as the company announced that it has signed a non-binding letter of intent to sell its Quebec property for $10 million. Following repayment of the existing mortgage, the transaction is expected to generate approximately $8 million in net pretax proceeds.
"This sale sharpens our focus on becoming the dominant corporate stakeholder of ETH and provides additional cash resources to repurchase shares of FGNX in the open market through our share buyback program," said FG Nexus CEO Kyle Cerminara.
The letter of intent does not constitute a binding agreement, and there can be no assurance that a definitive sale agreement will be reached or that the transaction will be completed. The transaction, if completed, is expected to close during the first quarter of 2026, subject to the execution of definitive agreements, completion of due diligence, and satisfaction of customary closing conditions. The Company will provide updates to the market as developments warrant and upon completion of any definitive transaction.
FG Nexus is on the Ethereum Standard, and singularly focused on becoming the largest corporate holder of ETH in the world by an order of magnitude. In order to enhance our ETH YIELD, the Company will stake and intends to implement other yield strategies while serving as a strategic gateway into Ethereum-powered finance, including tokenized RWAs and stablecoin yield.
FGNX shares retreated two cents to $3.65.
