NXT Announces Convertible Debenture Conversion
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.
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Rhea-AI Summary
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
Details
News Market Reaction – NSFDF
The recorded move for NSFDF in the trading session of this news was -4.52%.
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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
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 |
SOURCE: NXT Energy Solutions, Inc.
View the original press release on ACCESS Newswire
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