| News Release |
December 22 , 2009 |
| NXT Energy Solutions Inc . |
(TSX.V - SFD) (OTCBB-NSFDF) (Frankfurt-EFW) |
NXT Grants Common Share Options in 2009
14:07 EST Tuesday, December 22, 2009
CALGARY, ALBERTA--(Marketwire - Dec. 22, 2009) - NXT Energy Solutions Inc. ("NXT" or "the Company") (TSX VENTURE:SFD) (OTCBB:NSFDF) (FRANKFURT:EFW) announces the grant of the following incentive stock options in 2009 pursuant to the Company's Stock Option Plan. All options vest over a period of three (3) years and expire five (5) years from the date of grant.
On December 2, 2009 the Company granted a total of 480,000 options. 320,000 of these options were issued to directors and officers of the Company and the balance issued to employees and contractors of the Company. These Options are exercisable at a price of USD $1.30 per share. On April 14, 2009 the Company issued 100,000 options to two directors at an exercise price of USD $0.80 per share. On January 14, 2009 the Company issued 150,000 options to an officer at an exercise price of USD $0.40 per share.
There were no other options granted by the Company in 2009. The total number of options granted in 2009 was 730,000 options.
As at December 22, 2009 the Company had 30,701,796 common shares issued and outstanding and 3,070,179 shares reserved for issuance under the Option Plan. Subsequent to these grants of options presented above the number of shares remaining available for issuance under the plan is 169,975.
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.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
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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