CALGARY, Alberta, Jan. 25, 2023 (GLOBE NEWSWIRE) — NXT Energy Solutions Inc. (“NXT” or the “Company”) (TSX: SFD; OTCQB: NSFDF) is pleased to announce the closing of its private placement announced on December 22, 2022 (the “Private Placement’) for total net proceeds of approximately $1,882,195 in connection with the issuance of 9,658,282 common shares for $0.195 per common share. Insiders purchased a total of 9,178,282 common shares for $1,789,765 (95.0%) of the Private Placement. All five directors and the Chief Financial Officer have either participated in the Private Placement, the 2022 Rights Offering, or have elected to take some or … Continue Reading

CALGARY, Alberta, Jan. 23, 2023 (GLOBE NEWSWIRE) — NXT Energy Solutions Inc. (“NXT” or the “Company”) (TSX: SFD; OTCQB: NSFDF) announces with great sadness that Chief Executive Officer, George Liszicasz, passed away suddenly early yesterday morning. Mr. Liszicasz has been in declining health for several months and his duties were assumed by a committee of the Board (the “Committee”) that was formalized and announced late last week. George was charismatic, passionate and committed to the commercial application of stress field detection (“SFD®”) to increase the effectiveness of oil, gas and geothermal exploration world-wide. The Committee will undertake its executive role, … Continue Reading

CALGARY, Alberta, Jan. 20, 2023 (GLOBE NEWSWIRE) — NXT Energy Solutions Inc. (“NXT” or the “Company”) (TSX: SFD; OTCQB: NSFDF) announces that its Chief Executive Officer, Mr. George Liszicasz, has informed the Board of Directors that he will be taking a medical leave of absence in order to address personal and private health matters.  In light of this development, the Board of Directors has formally empowered a committee of the Board to assume the CEO’s duties until further notice. The Committee, which meets three times weekly with NXT management, consists of Lead Director Charles Selby and Directors Gerry Sheehan and … Continue Reading

CALGARY, Alberta, Jan. 11, 2023 (GLOBE NEWSWIRE) — NXT Energy Solutions Inc. (“NXT” or the “Company”) (TSX: SFD; OTCQB: NSFDF) is pleased to announce it has now received an additional $1,600,950 in connection with the issuance of 8,210,000 common shares in the second tranche of the $2.32 million private placement that was announced on December 22, 2022 (the “Private Placement’). As of January 11, 2023, a total amount of $1,824,865 or 9,358,282 common shares have been issued to participants in the Private Placement at a purchase price of $0.195 per common share.   Common shares issued as a result of the … Continue Reading

CALGARY, Alberta, Jan. 06, 2023 (GLOBE NEWSWIRE) — NXT Energy Solutions Inc. (“NXT” or the “Company”) (TSX: SFD; OTCQB: NSFDF) announces the grant of 2,050,000 incentive stock options at a price of $0.216 to employees, officers and directors. The incentive stock options will vest upon receipt of cash for SFD® services performed: 1/3 upon collection of US$6.5 million, 1/3 upon the collection of the next US$7.0 million and the final 1/3 upon collection of an additional US$7.5 million. The vesting milestones have been set to be consistent with our near term expectations for growth of the business, and are intended … Continue Reading

CALGARY, Alberta, Dec. 23, 2022 (GLOBE NEWSWIRE) — MCAPM, LP and Michael Mork (“the Morks”) announced today that they have entered into subscription agreements (the “Subscription Agreements”) with NXT Energy Solutions Inc. TSX: SFD) (“NXT“) pursuant to which the Morks have agreed to subscribe for an aggregate of 8,750,000 common shares (“Common Shares“) of NXT in a non-brokered private placement (the “Private Placement”) at a price of CAD$0.195 per Common Share for total consideration of approximately CAD$1.7 million. Closing is expected to occur in January, 2022 and is subject to certain conditions, including conditional listing approval of the TSX. The … Continue Reading

CALGARY, Alberta, Dec. 22, 2022 (GLOBE NEWSWIRE) — NXT Energy Solutions Inc. (“NXT” or the “Company”) (TSX: SFD; OTCQB: NSFDF) is pleased to announce it has received conditional approval from the Toronto Stock Exchange (the “TSX”) to offer a multi-tranche private placement (the “Private Placement”) under which the subscribers will be able to purchase up to 11,900,770 common shares of the Company at a price of $0.195 per share for total gross proceeds of approximately $2,320,650. As of December 22, 2022, the amount of $1,789,765 or 9,178,282 common shares have been subscribed for by participants in the Private Placement. The … Continue Reading

CALGARY, Alberta, Dec. 02, 2022 (GLOBE NEWSWIRE) — NXT Energy Solutions Inc. (“NXT” or the “Company”) (TSX: SFD; OTCQB: NSFDF) today announced the closing of the rights offering previously announced on October 31, 2022 (the “Offering”). The Company will issue 2,149,180 common shares at a price of $0.18 per common share, for aggregate gross proceeds of $386,852.40.

The proceeds will be used to support the working capital requirements to commence SFD® surveys and for the related general and administrative costs required to transform the existing pipeline of opportunities into firm contracts.

1,543,148 shares were issued in the basic subscription. A … Continue Reading

CALGARY, Alberta, Nov. 28, 2022 (GLOBE NEWSWIRE) — NXT Energy Solutions Inc. (“NXT” or the “Company”) (TSX: SFD; OTCQB: NSFDF) shareholders are reminded of the upcoming Rights Offering deadline of November 30, 2022 for holders of common shares of the Company of record at the close of business on November 7, 2022 (the “Record Date”). The Rights will expire at 4:30 p.m. (Calgary time) on November 30, 2022 (the “Expiry Time”), after which time unexercised Rights will be void and of no value.

Accelerated Deadlines

It is important to note that intermediaries may have different cut off times prior to … Continue Reading

CALGARY, Alberta, Nov. 21, 2022 (GLOBE NEWSWIRE) — NXT Energy Solutions Inc. (“NXT” or the “Company”) (TSX: SFD; OTCQB: NSFDF) would like to remind its shareholders of the upcoming deadlines and essential details of its previously announced rights offering (the “Rights Offering”) made to the holders of common shares of the Company (“Common Shares”) of record at the close of business on November 7, 2022 (the “Record Date”). The rights (“Rights”) will expire at 4:30 p.m. (Calgary time) on November 30, 2022 (the “Expiry Time”), after which time unexercised Rights will be void and of no value.

Accelerated Deadlines

It … Continue Reading

CALGARY, Alberta, Nov. 09, 2022 (GLOBE NEWSWIRE) — NXT Energy Solutions Inc. (“NXT” or the “Company”) (TSX: SFD; OTCQB: NSFDF) today announced the Company’s financial and operating results for the quarter ended September 30, 2022. All dollar amounts herein are in Canadian Dollars unless otherwise identified.

Q3 Financial and Operating Highlights

Key financial and operational highlights for Q3-22 are summarized below:

CALGARY, Alberta, Nov. 07, 2022 (GLOBE NEWSWIRE) — NXT Energy Solutions Inc. (“NXT” or the “Company”) (TSX:SFD; OTC QB:NSFDF) announces it will release its third quarter 2022 financial and operating results for the quarter ended September 30, 2022, on Wednesday, November 9, 2022 after market close. A conference call to discuss the third quarter 2022 results will be held on Thursday, November 10, 2022 at 4:30 p.m. Eastern Time (2:30 p.m. Mountain Time).

Details of the conference call are as follows: