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NXT Energy Solutions Provides Operational Update

Retrieved on:

Thursday, February 29, 2024

Acquisition, Doctor of Philosophy, Petroleum, TSX, SFD, NXT, Agency, Interim, Travel, Partnership, Oil

CALGARY, Alberta, Feb. 29, 2024 (GLOBE NEWSWIRE) -- NXT Energy Solutions Inc. ("NXT" or the "Company") (TSX: SFD; OTCQB: NSFDF) is pleased to provide the following operational update.

Key Points:

CALGARY, Alberta, Feb. 29, 2024 (GLOBE NEWSWIRE) -- NXT Energy Solutions Inc. ("NXT" or the "Company") (TSX: SFD; OTCQB: NSFDF) is pleased to provide the following operational update.
NXT has delivered the final SFD® survey results to its Turkish customer and is currently in Türkiye supporting the integration of SFD® data with their existing geological and geophysical data.
As announced earlier, the Company’s Turkish customer and one of its partners had requested NXT to add additional line kilometers to the original SFD® survey.
NXT personnel have recently returned to Türkiye and are actively pursuing near-term opportunities with additional prospective customers.

NXT Announces Closing of Private Placement of Convertible Debentures

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Friday, January 12, 2024

LP, Sale, Indian stock exchange, SFD, TSX, NXT, Acquisition, Debenture, Marketing, News, Security (finance)

CALGARY, Alberta, Jan. 12, 2024 (GLOBE NEWSWIRE) -- NXT Energy Solutions Inc. ("NXT" or the "Company") (TSX: SFD; OTCQB: NSFDF) is pleased to announce the closing of the private placement of convertible debentures that was previously announced on November 9, 2023 (the “Debentures”) for a total of US$1,872,000 (approximately CAD$2,542,000).

Key Points:

CALGARY, Alberta, Jan. 12, 2024 (GLOBE NEWSWIRE) -- NXT Energy Solutions Inc. ("NXT" or the "Company") (TSX: SFD; OTCQB: NSFDF) is pleased to announce the closing of the private placement of convertible debentures that was previously announced on November 9, 2023 (the “Debentures”) for a total of US$1,872,000 (approximately CAD$2,542,000).
Insiders were issued Debentures valued, in the aggregate principal amount, at US$1,522,000 (Approximately CAD$2,075,000) Debentures or (81.3%) of the value of the total Debentures issued.
Mork Capital will now have the right to obtain an additional 7,605,088 Common Shares upon the conversion of their Debentures.
In addition, all six current directors of NXT participated in the private placement by converting their outstanding director fees payable as at December 31, 2023 into Debentures valued, in the aggregate principal amount, at US$147,000 (approximately CAD$194,000).

NXT Energy Solutions Provides Update on Turkish SFD® Survey

Retrieved on:

Wednesday, January 3, 2024

Interim, Acquisition, TSX, NXT, SFD

CALGARY, Alberta, Jan. 03, 2024 (GLOBE NEWSWIRE) -- NXT Energy Solutions Inc. ("NXT" or the "Company") (TSX: SFD; OTCQB: NSFDF) is pleased to announce that its Turkish customer has requested NXT to add additional line kilometers to the original SFD® survey.

Key Points:

CALGARY, Alberta, Jan. 03, 2024 (GLOBE NEWSWIRE) -- NXT Energy Solutions Inc. ("NXT" or the "Company") (TSX: SFD; OTCQB: NSFDF) is pleased to announce that its Turkish customer has requested NXT to add additional line kilometers to the original SFD® survey.
NXT’s aircraft and equipment remain in Turkiye, to complete the data acquisition phase.
Bruce G. Wilcox, Interim CEO of NXT, stated, "We are extremely gratified to have been awarded additional line kilometers by our customer.
NXT is now poised to continue its pursuit of new and additional revenue opportunities to enhance shareholder value.

NXT Energy Solutions Announces Mobilization of Turkish SFD® Survey

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Monday, November 27, 2023

Climate, TSX, Population growth, International, NXT, SFD, Aircraft

CALGARY, Alberta, Nov. 27, 2023 (GLOBE NEWSWIRE) -- NXT Energy Solutions Inc. ("NXT" or the "Company") (TSX: SFD; OTCQB: NSFDF) today announced the mobilization of its aircraft and equipment to begin the contracted SFD® survey in Turkiye that was announced on September 5, 2023.

Key Points:

CALGARY, Alberta, Nov. 27, 2023 (GLOBE NEWSWIRE) -- NXT Energy Solutions Inc. ("NXT" or the "Company") (TSX: SFD; OTCQB: NSFDF) today announced the mobilization of its aircraft and equipment to begin the contracted SFD® survey in Turkiye that was announced on September 5, 2023.
The contract is an important milestone for NXT in a new SFD® survey area, in a region generating considerable international exploration attention, and with the potential for additional clients that will leverage the ability of NXT’s SFD® technology to rapidly and inexpensively identify potential oil and gas reservoirs.
International exploration activity is on the increase in new potential areas, as world petroleum consumption continues to soar with population growth in developing economies despite international efforts at decarbonization.
The SFD® technology represents an environmentally friendly approach to meeting the challenge.

NXT Energy Solutions Announces Third Quarter 2023 Results

Retrieved on:

Tuesday, November 14, 2023

Sale, SFD, Interim, Bank statement, CAD, Debenture, YTD, G&A, CDN, Conversation, NXT, LP, TSX, News, Rare-earth element, Security (finance), Cryptocurrency, Fossil fuel

CALGARY, Alberta, Nov. 14, 2023 (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 three and nine months ended September 30, 2023.

Key Points:

CALGARY, Alberta, Nov. 14, 2023 (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 three and nine months ended September 30, 2023.
Operation planning for this contract has commenced and NXT’s interpretations and recommendations are expected to be delivered during the fourth quarter of 2023.
Commenting on the Debenture offering, Bruce G. Wilcox, Interim CEO of NXT said, “NXT continues to make progress on its business development plans.
Summary highlights of NXT's 2023 third quarter financial statements (with comparative figures to 2022) are noted below.

Saudi Fund for Development Provides $100 Million Development Loan for the Rogun Hydropower Project

Retrieved on:

Tuesday, December 5, 2023

Sultan Al-Marshad, signed a new development loan agreement with the Minister of Finance of the Republic of Tajikistan, H.E.

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Sultan Al-Marshad, signed a new development loan agreement with the Minister of Finance of the Republic of Tajikistan, H.E.
Kahhorzoda Fayziddin Sattor, through which SFD is contributing $100 million USD to fund the Rogun Hydropower Project, a landmark initiative that will enhance energy, food, and water security, and foster sustainable development in the country.
With this landmark development loan, SFD is not just supporting Tajikistan's energy future, but also its sustainable development and the well-being of its people.
The Rogun Hydropower Project is a beacon of hope for a bright future that is powered by clean, renewable energy.

Saudi Fund for Development Signs Two Framework MoUs for Caribbean Infrastructure and Energy Projects

Retrieved on:

Thursday, November 16, 2023

Sultan Al-Marshad, signed today two developmental Framework Memorandum of Understandings (MoUs) with the governments of Saint Vincent and the Grenadines, and Saint Kitts and Nevis.

Key Points:

Sultan Al-Marshad, signed today two developmental Framework Memorandum of Understandings (MoUs) with the governments of Saint Vincent and the Grenadines, and Saint Kitts and Nevis.
The signing took place in Riyadh, Kingdom of Saudi Arabia, as a build-up to the Saudi – CARICOM Summit which begins on Thursday, November 16, 2023.
By funding this project, SFD will help to support the nation’s energy supply, alongside the socio-economic development of Saint Kitts and Nevis.
Since the beginning of this year, it has provided approximately $670 million in financing for 12 development projects.

Saudi Fund for Development Provides Over $580 Million in Development Loans to African Countries for Key Vital Projects

Retrieved on:

Friday, November 10, 2023

The Saudi Fund for Development (SFD) Chief Executive Officer, H.E.

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The Saudi Fund for Development (SFD) Chief Executive Officer, H.E.
Sultan Al-Marshad, signed 14 new development loan agreements worth $580m with 12 African ministers to fund projects in Angola, Burkina Faso, Benin, Burundi, Cabo Verde, Guinea, Malawi, Mozambique, Niger, Rwanda, Sierra Leone, and Tanzania at Saudi-Arab-African Economic Conference in Riyadh.
On this occasion, the CEO of SFD, H.E Sultan Al-Marshad, said: “The SFD is proud to continue partnering with African countries through contributing towards supporting development projects that will have a tangible impact on the lives of millions of people.
With these new agreements and MoU, we are taking a step further towards a brighter and more equitable Africa.”
SFD has funded over 400 sustainable development projects worth US$10.7 billion in 46 countries, accounting for 57% of its funding in developing countries.

NXT Announces US$2.5 Million Convertible Debenture Offering of Which US$1.0 Million Is Subscribed by an Insider

Retrieved on:

Thursday, November 9, 2023

LP, Sale, CAD, SFD, Toronto Stock Exchange, News, Acquisition, NXT, Marketing, Indian stock exchange, Partnership, Interim, TSX, Security (finance), Debenture

The Debentures bear interest at 10.0% per annum, paid quarterly, and are due and payable two years after issuance of the Debenture.

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The Debentures bear interest at 10.0% per annum, paid quarterly, and are due and payable two years after issuance of the Debenture.
Mork Capital will now have the right to obtain an additional 5,530,973 Common Shares upon the conversion of the Debentures.
Mork Capital currently own an aggregate of 14,921,233 Common Shares, representing 19.13% of the currently issued and outstanding Common Shares of NXT.
The Company intends to complete the remaining US$1,500,000 of the Debenture offering on or before December 15, 2023.

MCAPM, LP and Michael P. Mork Acquire Convertible Debenture of NXT Energy Solutions Inc.

Retrieved on:

Thursday, November 9, 2023

LP, Sale, Policy, CAD, Related, SFD, Early warning, News, Acquisition, National instrument, NXT, Indian stock exchange, TSX, Security (finance), Debenture

However, due to the current shareholdings of Mork Capital in NXT, no conversion of the Debentures can occur until shareholder approval of NXT’s shareholders is obtained.

Key Points:

However, due to the current shareholdings of Mork Capital in NXT, no conversion of the Debentures can occur until shareholder approval of NXT’s shareholders is obtained.
Mork Capital currently own an aggregate of 14,921,233 Common Shares, representing 19.13% of the currently issued and outstanding Common Shares of NXT.
In addition, NXT has agreed to appoint a representative from Mork Capital to its board of directors in the near future.
Mork Capital are acquiring the Debentures, and the Common Shares into which the Debentures are convertible, for investment purposes.