Early Warning Report Issued Pursuant to National Instrument 62-103 in Connection with the Conversion of Convertible Debentures of NXT Energy Solutions Inc. | NSFDF Stock News

6 days ago

Mork Capital has converted $3.375 million in debentures to NXT Energy Solutions (NSFDF, Financial) shares.
Mork Capital's ownership in NXT Energy increased from 16.0% to approximately 28.0% following the conversion.
A total of 15,605,088 common shares were issued to Mork Capital, raising their shareholding to 30,526,321 shares.

Mork Capital has significantly increased its stake in NXT Energy Solutions Inc. (NSFDF) after converting USD $3,375,000 worth of convertible debentures into common shares. The conversion involved USD $1,000,000 from November 2023 debentures, USD $375,000 from January 2024 debentures, and USD $2,000,000 from May 2024 debentures.

With the conversion effective as of June 26, 2025, Mork Capital's ownership in NXT Energy has grown from 16.0% to approximately 28.0% of the company's outstanding shares. This transaction resulted in the issuance of 15,605,088 common shares, increasing Mork Capital's total shareholding to 30,526,321 shares.

This shift positions Mork Capital as a significant shareholder, potentially influencing NXT Energy's strategic direction. Mork Capital has indicated that their acquisition is for investment purposes, and they may acquire additional shares or divest depending on market conditions and the performance of NXT Energy (NSFDF, Financial).

Disclosures

I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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