NXT Grants Common Share Options to Insider and Option Re-Pricing
27 Febrero 2011 - 11:54PM
Marketwired
NXT Energy Solutions Inc. (TSX VENTURE: SFD)(OTCBB:
NSFDF)(FRANKFURT: EFW) ("NXT" or "the Company") announces the grant
of 150,000 incentive stock options to an insider pursuant to the
Company's Stock Option Plan ("Option Plan"). The grant is made to a
member of the management team as part of a total compensation
package as approved by the compensation committee of the board.
50,000 of these options vest immediately with the balance vesting
over a two (2) year period. These options expire three (3) years
from the date of grant and are exercisable at a price of Cdn. $0.53
per share.
In addition the Company wishes to announce the re-pricing of
1,615,000 options that were previously issued to insiders. This
re-pricing was approved by disinterested shareholders at the
Company's Annual General Meeting held on December 8, 2010 and
subsequently the Company's submission was "accepted for filing" by
the TSX Venture Exchange. All re-priced options are now exercisable
at a price of Cdn. $0.63 per share. All other terms of these option
grants remain unchanged.
As at February 25, 2011 the Company had 34,002,396 common shares
issued and outstanding and 3,400,240 shares reserved for issuance
under the Option Plan. Subsequent to the option grant announced
above the number of shares remaining available for issuance under
the plan is 1,045,636.
NXT is a Calgary based company providing airborne detection
solutions to support hydrocarbon exploration enabling our clients
to focus their exploration decisions concerning land commitments,
data acquisition expenditures and prospect prioritization onto the
areas assessed with the greatest potential. NXT's proprietary
airborne Stress Field Detection ("SFD®") survey system provides a
unique survey method that remotely identifies potential traps and
reservoirs. SFD® is environmentally friendly and unaffected by
ground security issues or difficult terrain and is effective both
onshore and offshore. NXT provides its clients an efficient and
reliable method to conduct frontier surveys to support exploration.
SFD® is the registered trademark of NXT Energy Solutions Inc.
Forward-Looking Statement
This news release includes forward-looking statements. When used
in this document, words such as "plan", "see", "anticipate" and
"scheduled", are forward-looking statements. Forward-looking
statements are subject to a wide range of risks and uncertainties.
Any number of factors can cause actual results to differ materially
from those in forward-looking statements. Although the Company
believes that its expectations represented by the forward-looking
statements are reasonable there can be no assurance that such
expectations will be realized.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) nor NASDAQ OTCBB Exchange accept responsibility
for the adequacy or accuracy of this release.
Contacts: NXT Energy Solutions Inc. George Liszicasz President
and CEO (403) 264-7020 (403) 264-6442 (FAX) NXT Energy Solutions
Inc. Suite 1400, 505 3rd Street, S.W., Calgary, Alberta, Canada T2P
3E6 nxt_info@nxtenergy.com www.nxtenergy.com
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