NXT Announces Closing of Private Placement of Convertible Debentures
CALGARY, Alberta, Jan. 12, 2024 (GLOBE NEWSWIRE) — NXT Energy Solutions Inc. (“NXT” or the “Company”) (TSX:SFD; OTCQB:NSFDF) is pleased to announce the closing of the private placement of convertible debentures that was previously announced on November 9, 2023 (the “Debentures”) for a total of US$1,872,000 (approximately CAD$2,542,000). The Debentures are convertible into common shares in the capital of NXT (the “Common Shares”) at a conversion price of US$0.1808 (approximately CAD$0.25) per Common Share, which provides the subscribers with the right to obtain an aggregate of up to 10,353,982 Common Shares. Any Common Shares issued upon the conversion of the respective Debentures will be subject to a hold period of four months plus a day from the date of issuance of the Debenture being so converted.