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NXT Energy Solutions Inc. (“NXT” or the “Company”) (TSX-V:SFD; OTCQB:NSFDF) advises that it has granted a total of 830,000 incentive stock options (“options”) to directors and officers of the Company. These options are granted in accordance with the terms of NXT’s Stock Option Plan, and shall have an exercise price of $0.86 per share, will vest over a three year period (one third on each of the first, second and third anniversaries from grant date) and shall have a five year term to expiry. This grant includes a replacement of a total of 370,000 options that were held by directors and officers of NXT which expired in early 2012. In addition, certain directors of the Company have agreed to surrender for cancellation an aggregate of 140,000 options which were exercisable at $0.63 per share.
NXT also advises that it is terminating its agreement with Sally Elliott, who has been providing Investor and Public Relations advisory services since December 2011.
NXT is a Calgary based company whose proprietary airborne Stress Field Detection ("SFD®") survey system provides a proprietary survey method that can be used both onshore and offshore to remotely identify potential hydrocarbon traps and reservoirs. The SFD® survey system enables our clients to focus their hydrocarbon 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 provides its clients with an effective and reliable method to reduce time, costs, and risks related to exploration.This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The company’s securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States unless an exemption from such registration is available.
This news release may include forward-looking statements. When used in this document, words such as “intends”, “plans”, “anticipates”, “expects” and “scheduled”, are forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such a forward-looking statement are reasonable; there can be no assurance that such expectations will be realized. Any number of factors can cause actual results to differ materially from those in the forward-looking statements.