| News Release |
June 16, 2009 |
| NXT Energy Solutions Inc . |
(TSX.V - SFD) (OTCBB-NSFDF) (Frankfurt-EFW) |
NXT Completes Small Private Placement
14:30 EDT Tuesday, June 16, 2009
CALGARY, ALBERTA--(Marketwire - June 16, 2009) - NXT Energy Solutions Inc. (TSX VENTURE:SFD) (OTCBB:NSFDF) (FRANKFURT:EFW) ("NXT" or the "Company") announces that it has closed a private placement financing of 25,000 common shares of the Company ("Common Shares") at a price of Cdn. $2.01 per Common Share for aggregate gross proceeds of $50,250. The subscriber to this private placement is a spouse of an officer of the Company and this private placement satisfies a commitment to acquire Common Shares that originated in 2008. The Common Shares are subject to a four month hold period.
About NXT Energy Exploration Technologies Inc.
NXT is in the business of providing wide-area airborne exploration services to the oil and gas industry. The Company utilizes its proprietary SFD Survey System to offer its clients a unique service to rapidly identify sub-surface structures with reservoir potential in sedimentary basins with no environmental impact. The value of the service is providing clients with an efficient, cost effective method of surveying large tracts of land and delivering an inventory of SFD prospects with high potential.
Additional information about NXT and the SFD technology is available on the Company's website -www.nxtenergy.com.
Forward-Looking Statements
This news release may include forward-looking statements including opinions, assumptions, estimates and expectations of future prospects for the Company and financial projections. When used in this document, the words "anticipate," "believe," "estimate," "expect," "intend," "may," "project," "plan," "will," "should" and similar expressions are intended to be among the statements that identify 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 forward-looking statements are reasonable; there can be no assurance that such expectations will be realized. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements including, but not limited to, the volatility of oil and gas prices, the ability to implement corporate strategies, the state of capital markets, the ability to obtain financing, changes in the oil and gas industry, operating risks, reserve estimates, changes in general economic conditions and other factors more fully described from time to time in the reports and filings made by the Company with securities regulatory authorities.
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