NXT Energy Receives US$2 Million Strategic Investment from Mork Capital to Advance Application of SFD(R) Technology in Canada

Executive Summary

• NXT Energy Solutions Inc. received a US$2 million strategic investment from its largest shareholder MCAPM LP (Mork Capital) via a private placement of 7,050,500 common shares at CAD 0.40 per share.
• The proceeds are intended to enhance balance‑sheet flexibility and accelerate the deployment of the company’s proprietary Stress Field Detection (SFD®) technology across Western Canada.
• Concurrently, CEO Bruce G. Wilcox recommended the appointment of Eugene Woychyshyn as President & Chief Financial Officer, effective immediately.

Key Details

• Investment Amount: US$2 million (approximately CAD 2.6 million at prevailing rates).
• Shares Issued: 7,050,500 common shares to MCAPM LP at CAD 0.40 per share.
• Ownership Impact: Post‑investment, MCAPM LP holds ~32.3% of NXT’s outstanding common shares.
• Hold Period: Shares are subject to a four‑month plus one day lock‑up from the issuance date.
• Use of Proceeds: To provide balance‑sheet flexibility and accelerate widespread usage of SFD® data in Western Canada while preserving NXT’s core technology‑service business model.
• Strategic Partner: Baycrest Energy Ltd. engaged to evaluate strategic pathways for the initiative.
• Regulatory Approval: Conditional approval obtained from the Toronto Stock Exchange (TSX) for the private placement.
• Management Change: Eugene Woychyshyn appointed President & CFO, expanding his role beyond CFO (held since 2018).
• Securities Disclaimer: Shares not registered under U.S. securities laws; offering limited to jurisdictions where exemptions apply.

Notable Quotes

(No direct quotes were provided in the release.)