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NXT Energy Solutions Inc. Announces Results of AGM

Tuesday, 16 July 2024 05:00 PM

NXT Energy Solutions, Inc.

CALGARY, AB / ACCESSWIRE / July 16, 2024 / NXT Energy Solutions Inc. ("NXT" or the "Company") (TSX:SFD)(OTCQB:NSFDF) is pleased to provide the voting results from its Annual Meeting of Shareholders held on July 15, 2024.

Shareholders approved the following:

  • Election of Directors: Eight directors of the Company were elected to hold office until the next annual meeting of shareholders or until their successors are duly elected or appointed.

  • Appointment of Auditors: MNP LLP were appointed as the auditors of the Company for the next year at a remuneration to be determined by the Board of Directors.

  • Control Person Resolution. The resolution to approve MCAPM LP as new control person was approved.

  • Insider Participation Resolution. The resolution to allow MCAPM LP the option to convert convertible debentures acquired in private placements into the Company's common shares, over 10% of the Company's outstanding shares was approved.

  • Security Based Compensation Arrangement. The resolution to allow the Company's directors the option to convert convertible debentures acquired in a private placement into the Company's commons shares was approved.

Further details are set out in the Company's Information Circular dated June 13, 2024 posted on the Company's website and filed on www.sedarplus.ca.

Specific voting results are as follows:

Description of Matter

# of Votes
For

% of Votes
For

# of Votes
Withheld/ Against

% of Votes
Withheld/ Against

Election of the following Directors:

Peter Mork

50,967,553

99.93%

37,514

0.07%

Theodore Patsellis

49,511,359

97.07%

1,493,708

2.93%

Charles Selby

49,631,706

97.31%

1,373,361

2.69%

Gerry Sheehan

51,002,700

100.00%

2,367

0.00%

John Tilson

50,811,956

99.62%

193,111

0.38%

Thomas E. Valentine

50,598,630

99.20%

406,437

0.80%

Bruce G. Wilcox

50,995,267

99.98%

9,800

0.02%

Eugene Woychyshyn

51,002,700

100.00%

2,367

0.00%

Appointment of Auditors

55,021,037

99.58%

229,664

0.42%

Control Person Resolution

36,046,220

99.90%

37,614

0.10%

Insider Participation Resolution

36,046,220

99.90%

37,614

0.10%

Security Based Compensation Resolution

42,881,752

99.85%

65,664

0.15%

About NXT Energy Solutions Inc.

NXT Energy Solutions Inc. is a Calgary-based technology company whose proprietary airborne SFD® survey system, applied in numerous basins around the world, uses the principles of quantum mechanics to infer stress anomalies of exploration interest. The method can be used both onshore and offshore to remotely identify areas conducive to fluid entrapment in order to recommend areas with commercial hydrocarbon and/or geothermal 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:

Eugene Woychyshyn

Michael Baker

Vice President of Finance & CFO

Investor Relations

302, 3320 - 17th AVE SW

302, 3320 - 17th AVE SW

Calgary, AB, T3E 0B4

Calgary, AB, T3E 0B4

+1 403 206 0805

+1 403 264 7020

[email protected]

[email protected]

www.nxtenergy.com

www.nxtenergy.com

SOURCE: NXT Energy Solutions, Inc.

Topic:
Shareholder Meeting
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