NXT Announces Changes to the Board of Directors and the Granting of Incentive Stock Options
25 July 2011 - 10:00PM
PR Newswire (Canada)
CALGARY, July 25, 2011 /CNW/ -- CALGARY, July 25, 2011 /CNW/ - NXT
Energy Solutions Inc. ("NXT" or "the Company") (TSX-V:SFD;
NASDAQ-OTCBB:NSFDF), today announced that Mr. Doug Rowe has stepped
down from NXT's Board of Directors effective immediately and Mr.
John Agee has accepted the appointment as the new Board member. "We
are delighted to have a director of Mr. Agee's caliber join our
Board," said George Liszicasz, NXT's President and CEO. "As NXT
continues to grow into a market-leading organization, the need for
a seasoned professional in financial and governance matters at the
Board level is essential. We also wish to extend our sincere
gratitude to Mr. Rowe for his long-term service as a director and
integral advisor to the Company, and we wish him the best of luck
in his future endeavors." Mr. Agee commented "I am very excited to
join NXT's Board and assist the Company in realizing the tremendous
market potential of their unique SFD survey technology." Mr. Agee
recently retired from a successful career, during which he spent
over 25 years in senior executive positions with three separate and
prominent US families. Most recently he worked with the Carlson
Family in Minneapolis, MN (owners of Radisson, Country Inns and
Suites, and TGI Friday's). Prior to that, Mr. Agee worked for the
Steve Case Family in Washington, DC (Steve Case is the founder of
America Online), and the Gerald Rauenhorst Family in Minneapolis,
MN (the Rauenhorst family owns Opus Corporation, a national real
estate development company.) During this 25 year period Mr. Agee
also served on numerous private, public, and non-profit Boards. Mr.
Agee currently consults part-time in matters related to wealth
management and is a CPA (inactive). Mr. Agee holds an MBA
from the University of Minnesota and a BA from St. John's
University, Collegeville, MN. Mr. Agee resides in Minnesota In
conjunction with his appointment to the Board, the Company has
granted Mr. Agee 120,000 incentive stock options ("Options"). In
addition, the Company has granted 150,000 Options to new CFO, Mr.
Greg Leavens, 80,000 Options to existing officers and 154,800 to
employees and advisors. The Options were issued at an exercise
price of Cdn. $1.16 per Option and will vest over a three (3) year
period and expire five (5) years after the date of grant. The
Options were granted in accordance with the Company's Stock Option
Plan. About NXT 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 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
a forward-looking statement. When used in this document,
words such as "see", "anticipate" 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 a
forward-looking statement 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 statement. 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 Exchanges
accept responsibility for the adequacy or accuracy of this release.
To view this news release in HTML formatting, please use the
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http://www.newswire.ca/en/releases/archive/July2011/25/c7192.html
table border="1" cellspacing="0" class="cnwBorderedTable" tr
valign="top" td align="left" George Liszicasz CEO and President
/td td align="left" Jeremy Dietz /td /tr tr valign="top" td
align="left" NXT Energy Solutions Inc. /td td align="left" The
Equicom Group /td /tr tr valign="top" td align="left" 505 - 3rd
Street, S.W., Suite 1400 /td td align="left" 300 - 5th Avenue
SW, 10th Floor /td /tr tr valign="top" td align="left"
Calgary, Alberta, Canada T2P 3E6 /td td align="left" Calgary, AB,
Canada T2P 3C4 /td /tr tr valign="top" td align="left" Tel:
(403) 264-7020 /td td align="left" Tel: (403)218-2833 /td /tr
tr valign="top" td align="left" Fax: (403) 264-6442 /td td
align="left" a
href="mailto:jdietz@equicomgroup.com"jdietz@equicomgroup.com/a /td
/tr tr valign="top" td align="left" a
href="mailto:nxt_info@nxtenergy.com"nxt_info@nxtenergy.com/a /td td
align="left" /td /tr tr valign="top" td align="left" a
href="http://www.nxtenergy.com"www.nxtenergy.com/a /td td
align="left" /td /tr /table p /p
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