Early Warning Report Filed in Respect of NXT Energy Solutions Inc.

Rhea-AI Summary

Ms. Chee Pheng Cheng reports holdings in NXT Energy Solutions Inc., acquiring 2,000,000 common shares and owning 16.23% of the current issued shares. She may adjust her ownership based on market conditions. The Issuer's common shares trade on the Toronto Stock Exchange under the symbol 'SFD'.

Calgary, Alberta--(Newsfile Corp. - March 8, 2024) - This release is being made by Ms. Chee Pheng Cheng to report holdings in NXT Energy Solutions Inc. (the "Issuer").

On March 5, 2024, Ms. Cheng acquired beneficial ownership of 2,000,000 common shares of the Issuer ("Common Shares") pursuant to the settlement of the Estate of George Liszicasz, a former shareholder of NXT, which estate Ms. Cheng is a beneficiary of. As a result of this settlement and certain other purchases and sales of Common Shares made by Ms. Cheng, as of March 5, 2024, Ms. Cheng owned or controlled 12,677,328 Common Shares representing approximately 16.23% of the current issued and outstanding Common Shares.

On March 6, 2024, Ms. Cheng disposed of 54,606 Common Shares. Ms. Cheng may, depending on market and other conditions, increase or decrease her ownership of Common Shares or other securities of the Issuer, whether in the open market, or otherwise, by privately negotiated agreement.

All securityholding percentages in this press release are based on the issued and outstanding Common Shares of the Issuer set forth in the management's discussion and analysis of the Issuer at the applicable time.

The common shares of the Issuer are listed on the Toronto Stock Exchange under the symbol "SFD". The Issuer is a corporation organized under the laws of the province of Alberta with its head office at Suite 302, 3320 - 17th Avenue SW, Calgary, Alberta, Canada, T3E 0B4.

An early warning report will be electronically filed with the applicable securities commission in each jurisdiction where the Issuer is reporting and will be available on SEDAR at www.sedarplus.ca. For further information or to obtain a copy of the Early Warning Report, please contact:

Chee Pheng Cheng
403-689-6220

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/201127

FAQ

Who acquired beneficial ownership of 2,000,000 common shares of NXT Energy Solutions Inc.?

Ms. Chee Pheng Cheng acquired beneficial ownership of 2,000,000 common shares of NXT Energy Solutions Inc.

What percentage of the current issued shares does Ms. Chee Pheng Cheng own?

Ms. Chee Pheng Cheng owns approximately 16.23% of the current issued and outstanding Common Shares of NXT Energy Solutions Inc.

Where are the common shares of NXT Energy Solutions Inc. listed?

The common shares of NXT Energy Solutions Inc. are listed on the Toronto Stock Exchange under the symbol 'SFD'.

How can one access the Early Warning Report related to the acquisition of common shares?

The Early Warning Report can be accessed electronically filed with the applicable securities commission in each jurisdiction where the Issuer is reporting and will be available on SEDAR at www.sedarplus.ca.

How can one contact Chee Pheng Cheng for further information?

For further information or to obtain a copy of the Early Warning Report, one can contact Chee Pheng Cheng at 403-689-6220.