CALGARY, Alberta, June 08, 2018 (GLOBE NEWSWIRE) -- NXT Energy Solutions Inc. ("NXT" or the "Company") (TSX:SFD)
(OTC QB:NSFDF) is pleased to provide the voting results from its annual and special meeting of shareholder held on June 7,
2018.
Shareholders voted on and approved the following proposals:
- Number of Directors. Set the number of directors to be elected at the meeting at five (5).
- Re-elect Directors. Re-elect the incumbent five directors of the Company.
- Auditors. Appoint KPMG LLP, Chartered Professional Accountants, as the auditors of the Company for the ensuing
year at a remuneration to be determined by the Board of Directors of the Company.
- Control Person Resolution. The issuance at any time not later than June 15, 2018 of 4,075,667 units
representing the aggregate of balance of the remaining portion of tranche 2 and of tranche 3 of the Company's previously
announced private placement (the "Private Placement") at a price of $0.924 per unit, and the resulting creation if a new "Control
Person".
- Finder's Fee Paid in Cash Resolution. The payment to the finder in the Private Placement of the finder's fee
in an amount up to $302,292, payable by way of cash (if so determined by the Company in its sole discretion) if the TSX
determines the finder to be a related party of the subscriber and such authorization and approval from the shareholders is
required.
- Finder's Fee Paid in Common Shares Resolution. The payment to the finder of the finder's fee in an amount up
to $302,292, payable by way of Common Shares (calculated as described in the Company's Information Circular dated April 5, 2018),
if so determined by the Corporation in its sole discretion.
Further details of the foregoing proposals are set out in the Company's Information Circular dated April 5, 2018
and the Addendum to the Information Circular dated May 16, 2018. Both of these documents are posted on the Company's website
and filed on www.sedar.com.
The specific voting results were as follows:
|
Resolution |
Votes For |
% of
Votes
For |
Votes
Withheld /
Against |
% of
Votes
Withheld /
Against |
| Set
the number of directors at five (5) |
Carried |
|
Election of George Liszicasz as director |
31,396,399 |
96.93 |
% |
994,733 |
3.07 |
% |
|
Election of Charles Selby as director |
30,073,155 |
92.84 |
% |
2,317,977 |
7.16 |
% |
|
Election of John Tilson as director |
32,270,032 |
99.63 |
% |
121,100 |
0.37 |
% |
|
Election of Bruce G. Wilcox as director |
32,217,929 |
99.47 |
% |
173,203 |
0.53 |
% |
|
Election of Thomas E. Valentine as director |
30,845,012 |
95.23 |
% |
1,546,120 |
4.77 |
% |
|
Appointment of KPMG LLP as the auditors of the Company |
Carried |
|
Control Person |
32,185,449 |
99.37 |
% |
205,683 |
0.63 |
% |
|
Finder's Fee Paid in Cash |
29,080,934 |
89.78 |
% |
3,310,201 |
10.22 |
% |
|
Finder's Fee Paid in Common Shares |
30,795,495 |
95.07 |
% |
1,595,640 |
4.93 |
% |
The annual presentation to shareholders is available on our website at www.nxtenergy.com.
About NXT Energy Solutions Inc.
NXT Energy Solutions Inc. is a Calgary-based company whose proprietary 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
Solutions Inc. provides its clients with an effective and reliable method to reduce time, costs, and risks related to
exploration.
