NXT Energy Solutions Inc. Announces Results of Annual Meeting of Shareholders

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Published Aug 03, 2023 • 2 minute read

CALGARY, Alberta, Aug. 03, 2023 (GLOBE NEWSWIRE) — NXT Energy Solutions Inc. (“NXT” or the “Company”) (TSX: SFD; OTC QB: NSFDF) is pleased to provide the voting results from its Annual Meeting of Shareholders held on August 2, 2023.

Shareholders approved the following:

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Election of Directors: The incumbent six directors of the Company were re-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. Employee Share Purchase Plan. The Company’s Employee Share Purchase Plan was approved for an additional three years. Unallocated Entitlements. The Company’s Restricted Share Unit Plan was approved for an additional three years. Preferred Share Resolution. The resolution to approve a new class of preferred shares was approved.

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Further details are set out in the Company’s Information Circular dated June 30, 2023 posted on the Company’s website and filed on www.sedarplus.com.

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: Charles Selby 47,289,404 99.98 % 7,700 0.02 % John Tilson 47,285,404 99.98 % 11,700 0.02 % Thomas E. Valentine 46,683,334 98.70 % 613,770 1.30 % Bruce G. Wilcox 47,285,404 99.98 % 11,700 0.02 % Gerry Sheehan 47,289,404 99.98 % 7,700 0.02 % Theodore Patsellis 47,231,077 99.86 % 66,027 0.14 % Appointment of Auditors 52,428,860 100.00 % 1,013 0.00 % Employee Share Purchase Plan 46,683,334 98.70 % 613,770 1.30 % Deferred Share Unit Plan 46,679,324 98.69 % 617,780 1.31 % Preferred Share Resolution 46,679,324 98.69 % 617,780 1.31 %

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.

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