CALGARY, Alberta, Dec. 01, 2017 (GLOBE NEWSWIRE) -- NXT Energy Solutions Inc. (“NXT” or the “Company”) (TSX:SFD)
(OTC QB:NSFDF) announces that Mrs. Beverly Stewart has stepped down as the Company’s Vice-President and Chief Financial Officer,
effective November 30th, 2017.
As we announced on October 19th, 2017 the Company is substantially advanced on negotiating employment
terms with a new Chief Financial Officer (the “CFO”) with significant oil and gas and capital markets experience. It is
expected that negotiations will be successfully concluded within the next 30 days.
In the meantime, Mr. Charles Selby, NXT Lead Director, will take on the role of Chief Financial Officer.
Mr. Selby holds a B. Sc. (Hons) in Chemical Engineering, a J.D. degree and is a registered professional engineer in the Province of
Alberta. Mr. Selby is also the Chairman and CEO of Montana Exploration Corp., a TSX-V reporting issuer. He is the
president of Caledonian Royalty Corporation and Caledonian Global Corporation, both private entities which are involved in oil &
gas exploration and production. He is a former officer (1993 to 2010) of Pengrowth Corporation, which administered Pengrowth Energy
Trust, a large North American energy royalty trust. Mr. Selby has also previously been a director of several
other Canadian reporting issuers. Mr. Selby joined NXT's Board in 2006 is the Chairman of NXT’s Compensation
Committee, and a member of its Audit and Disclosure Committees.
For further information about NXT, please contact NXT’s Head office at nxt_ info@nxtenergy.com
NXT Energy is a Calgary based company whose proprietary Stress Field Detection ("SFD®") survey system
utilizes quantum-scale sensors to detect gravity field perturbations in an airborne survey method which can be used both onshore
and offshore to remotely identify areas with exploration potential for traps and reservoirs. The SFD® survey system
enables our clients to focus their hydrocarbon exploration decisions concerning land commitments, data acquisition expenditures and
prospect prioritization on areas with the greatest potential. SFD® is environmentally friendly and unaffected by ground
security issues or difficult terrain, and is the registered trademark of NXT Energy Solutions Inc. NXT Energy provides its clients
with an effective and reliable method to reduce time, costs, and risks related to exploration.
Forward-Looking Statements
This news release may include forward-looking statements. When used in this document, words such as “intends”,
“plans”, “anticipates”, “expects” and “scheduled”, are 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 factors can cause
actual results to differ materially from those in the forward-looking statements. Risk factors facing NXT Energy are
described in its most recent MD&A for the year ended December 31, 2016 which has been filed electronically by means of
the System for Electronic Document Analysis and Retrieval ("SEDAR") located at www.sedar.com. Such forward-looking statements
are made as at the date of this news release, and the Company assumes no obligation to update or revise them, either publicly
or otherwise, to reflect new events, information or circumstances, except as may be required under applicable securities
law.
For further information, please contact:
George
Liszicasz
Chairman & Chief Executive
Officer
NXT Energy Solutions Inc.
403-206-0800
Nxt_info@nxtenergy.com
www.nxtenergy.com
Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) nor
the OTC QB Markets accept responsibility for the adequacy or accuracy of this release.