NXT Energy Solutions Announces $ 1,000,000 HASCAP Loan

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CALGARY, Alberta, May 27, 2021 (GLOBE NEWSWIRE) – NXT Energy Solutions Inc. (“NXT” or “Company”) (TSX: SFD; OTC QB: NSFDF) is pleased to announce that it has been approved to participate in the Business Development Bank of Canada Vulnerable Sector Loan Program (“HASCAP Loan”). The HASCAP loan is a US $ 1,000,000 non-revolving credit facility for 10 years with an interest rate of 4%. The proceeds from the HASCAP loan will be used to fund working capital to continue supporting NXT’s business growth initiatives.

The repayment terms for the HASCAP loan are interest for the first year only and the principal plus interest for the remaining nine years. The HASCAP loan is secured by a general security agreement and guaranteed by Business Development Bank of Canada.

About NXT Energy Solutions Inc.

NXT Energy Solutions Inc. is a Calgary-based technology company with its own SFD® The geodetic system uses quantum-scale sensors to detect gravity disturbances in an aerial photography technique that can be used both on land and at sea to remotely locate traps and reservoirs with research potential. Southern Federal District® The geodetic system allows our clients to focus their exploration decisions regarding land obligations, data collection costs and prioritization of areas of greatest potential. Southern Federal District® is environmentally friendly and unaffected by ground safety concerns or rough terrain and is a registered trademark of NXT Energy Solutions Inc. NXT Energy Solutions Inc. provides its clients with an efficient and reliable method of reducing the time, costs and risks associated with exploration.

Contacts

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Forward-looking statements

Certain information provided in this press release may constitute forward-looking information within the meaning of applicable securities laws. Forward-looking information usually contains statements containing words such as “anticipate,” “believe,” “estimate,” “will,” “expect,” “plan,” “schedule,” “intend,” “suggest,” or similar words. suggesting future results or prospects. The forward-looking information in this press release includes, but is not limited to, information on the use of funds for the HASCAP loan. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, one should not rely excessively on forward-looking statements as the Company cannot guarantee that they will prove to be correct. Because forward-looking statements relate to future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results may differ materially from those currently expected due to a number of factors and risks, including those associated with the new coronavirus (2019-nCoV / COVID-19) and its potentially negative impact on the Company’s personnel, its supply chain or demand for it. products. Additional risk factors faced by the Company are described in its most recent Annual Information Form for the year ended December 31, 2020 and in the Management Discussion and Analysis for the period ended March 31, 2021, which were filed electronically using the Electronic Document Analysis and Search (SEDAR), hosted at www.sedar.com. The forward-looking statements contained in this press release are made as of the date of this press release and, except as may be required by applicable securities laws, the Company assumes no obligation to publicly update or revise any forward-looking statements. made here or otherwise, whether as a result of new information, future events or otherwise.

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