NXT Announces Convertible Debenture Conversion

Rhea-AI Summary

NXT Energy Solutions Inc. announced that Ataraxia Capital has converted all of its debentures worth US$2.3 million into 13,540,208 common shares of the company. Following this conversion, Ataraxia now holds approximately 14.6% ownership stake in NXT. The company's CEO Bruce G. Wilcox expressed gratitude to Ataraxia's CEO Dr. Daere Akobo for his support during NXT's period of transformation, highlighting the significance of their strategic partnership.

Positive

• Conversion of US$2.3 million in debt to equity strengthens NXT's balance sheet
• Strategic alliance partner demonstrates confidence by becoming a significant shareholder with 14.6% ownership

Negative

• Existing shareholders face dilution due to the issuance of 13.5 million new shares

News Market Reaction

-4.52%

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-4.52% News Effect

On the day this news was published, NSFDF declined 4.52%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

CALGARY, AB / ACCESS Newswire / May 29, 2025 / NXT Energy Solutions Inc. ("NXT" or the "Company") (TSX:SFD)(OTCQB:NSFDF) is pleased to announce that Ataraxia Capital ("Ataraxia"), has converted all its debentures, totaling US$2,300,000, into 13,540,208 common shares of the Corporation. Ataraxia now owns approximately 14.6% of the issued and outstanding common shares of NXT.

Bruce G. Wilcox, CEO of NXT said, "We are very pleased that our strategic alliance partner Ataraxia, is now a significant shareholder. I especially express my gratitude to Dr. Daere Akobo, CEO of Ataraxia, for his leadership and support during this period of change for NXT."

About NXT Energy Solutions Inc.
NXT Energy Solutions Inc. is a Calgary-based technology company whose proprietary SFD® survey system utilizes quantum-scale sensors to detect gravity field perturbations in an airborne survey method which can be used both onshore and offshore to remotely identify traps and reservoirs with hydrocarbon and geothermal exploration potential. The SFD® survey system enables our clients to focus their exploration decisions concerning land commitments, data acquisition expenditures and prospect prioritization on areas with the greatest potential. SFD® is environmentally friendly and unaffected by ground security issues or difficult terrain and is the registered trademark of NXT Energy Solutions Inc. NXT Energy Solutions Inc. provides its clients with an effective and reliable method to reduce time, costs, and risks related to exploration.

Contact Information
For investor and media inquiries please contact for NXT Energy Solutions Inc.:

Michael Baker

Investor Relations

302, 3320 - 17th AVE SW

Calgary, AB, T3E 0B4

+1 403 264 7020

nxt_info@nxtenergy.com

www.nxtenergy.com

SOURCE: NXT Energy Solutions, Inc.

View the original press release on ACCESS Newswire

FAQ

What is the value of debentures converted by Ataraxia Capital in NXT Energy Solutions (NSFDF)?

Ataraxia Capital converted debentures worth US$2.3 million into NXT Energy Solutions common shares.

How many shares did Ataraxia Capital receive from the NSFDF debenture conversion?

Ataraxia Capital received 13,540,208 common shares of NXT Energy Solutions from the debenture conversion.

What percentage of NXT Energy Solutions (NSFDF) does Ataraxia Capital now own?

Following the debenture conversion, Ataraxia Capital now owns approximately 14.6% of NXT Energy Solutions' issued and outstanding common shares.

Who is the CEO of NXT Energy Solutions (NSFDF)?

Bruce G. Wilcox is the CEO of NXT Energy Solutions.