Early Warning Report Issued Pursuant to National Instrument 62-103 in Connection with the Acquisition of Common Shares of NXT Energy Solutions Inc.

Rhea-AI Summary

MCAPM filed an Early Warning Report under National Instrument 62-103 after subscribing for 7,050,500 common shares of NXT Energy Solutions (NSFDF) in a non-brokered private placement at CAD$0.40 per share for total consideration of CAD$2,820,200. The Private Placement closed on November 24, 2025.

MCAPM owned 30,526,321 shares (≈27.94%) before the placement and owns 37,576,821 shares (≈32.30%) after the placement. MCAPM said the shares are for investment purposes and it may acquire or dispose of additional NXT securities in future. The Early Warning Report is available under NXT's SEDAR+ profile.

Positive

• Stake increased to 32.30% of issued common shares
• Acquired 7,050,500 shares for CAD$2.82M at CAD$0.40

Negative

• Ownership rose by 4.36 percentage points (27.94%→32.30%)
• MCAPM may sell shares or buy more, creating market overhang

CALGARY, AB / ACCESS Newswire / November 25, 2025 / MCAPM, LP ("MCAPM") announced today that it has filed an early warning report (the "Early Warning Report") under National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with its subscription for 7,050,500 common shares ("Common Shares") in the capital of NXT Energy Solutions Inc. (TSX: SFD) ("NXT") in a non-brokered private placement (the "Private Placement") at a price of CAD$0.40 per Common Share for total consideration of CAD$2,820,200. The Private Placement closed on November 24, 2025. Prior to completion of the Private Placement, MCAPM owned 30,526,321 Common Shares (approximately 27.94% of the then issued and outstanding Common Shares on a non-diluted basis). After completion of the Private Placement, MCAPM owns 37,576,821 Common Shares, representing approximately 32.30% of the issued and outstanding Common Shares on a non-diluted basis.

A copy of the Early Warning Report will be available under NXT's profile at www.sedarplus.ca or may be obtained by contacting MCAPM at (707) 431-1057.

The head office address of NXT is 302 3320 17th Avenue SW Calgary, Alberta, Canada T3E 0B4. The head office of MCAPM is 132 Mill Street, #204, Healdsburg California, 95448.

MCAPM is acquiring the Common Shares for investment purposes. MCAPM may, from time to time, acquire additional Common Shares or other securities of NXT or dispose of some or all of the Common Shares or other securities of NXT that it owns at such time. MCAPM currently has no other plans or intentions that relate to or would result in any of the actions listed above, but depending on market conditions, general economic and industry conditions, trading prices of NXT's securities, NXT's business, financial condition and prospects and/or other relevant factors, MCAPM may develop such plans or intentions in the future.

Forward-Looking Statements

The information in this news release has been prepared as at November 25, 2025. Certain statements in this news release, referred to herein as "forward-looking statements", constitute "forward-looking information" under the provisions of Canadian securities laws. These statements can be identified by the use of words such as "expected", "may", "will" or similar terms. Forward-looking statements in this news release include statements relating to MCAPM's future plans regarding NXT.

SOURCE: NXT Energy Solutions, Inc.

View the original press release on ACCESS Newswire

FAQ

What did MCAPM announce about NXT (NSFDF) on November 25, 2025?

MCAPM filed an Early Warning Report after subscribing for 7,050,500 NXT shares, closing a private placement on Nov 24, 2025.

How much did MCAPM pay per share and in total for NSFDF?

MCAPM paid CAD$0.40 per share for a total of CAD$2,820,200.

What percentage of NXT (NSFDF) does MCAPM own after the private placement?

After the placement MCAPM owns 37,576,821 shares, representing approximately 32.30% of issued common shares.

Where can investors find the Early Warning Report for NSFDF?

The Early Warning Report is available under NXT's profile on SEDAR+ or by contacting MCAPM directly.

Does MCAPM plan any immediate changes to NXT (NSFDF) management or operations?

MCAPM stated it has no other plans or intentions at this time; plans may change depending on market and company conditions.