NXT Energy Solutions Inc. (TSXV:SFD)
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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 following URL: 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