Early Warning Report Issued Pursuant to National Instrument 62-103 in Connection with the Acquisition of Common Shares of NXT Energy Solutions Inc.

Arizona Tribune - Early Warning Report Issued Pursuant to National Instrument 62-103 in Connection with the Acquisition of Common Shares of NXT Energy Solutions Inc.

Early Warning Report Issued Pursuant to National Instrument 62-103 in Connection with the Acquisition of Common Shares of NXT Energy Solutions Inc.

ECONOMY 25.11.2025

CALGARY, AB / ACCESS Newswire / November 25, 2025 / MCAPM, LP ("MCAPM") announced today that it has filed an early warning report (the "Early Warning Report") under National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with its subscription for 7,050,500 common shares ("Common Shares") in the capital of NXT Energy Solutions Inc. (TSX: SFD) ("NXT") in a non-brokered private placement (the "Private Placement") at a price of CAD$0.40 per Common Share for total consideration of CAD$2,820,200. The Private Placement closed on November 24, 2025. Prior to completion of the Private Placement, MCAPM owned 30,526,321 Common Shares (approximately 27.94% of the then issued and outstanding Common Shares on a non-diluted basis). After completion of the Private Placement, MCAPM owns 37,576,821 Common Shares, representing approximately 32.30% of the issued and outstanding Common Shares on a non-diluted basis.

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A copy of the Early Warning Report will be available under NXT's profile at www.sedarplus.ca or may be obtained by contacting MCAPM at (707) 431-1057.

The head office address of NXT is 302 3320 17th Avenue SW Calgary, Alberta, Canada T3E 0B4. The head office of MCAPM is 132 Mill Street, #204, Healdsburg California, 95448.

MCAPM is acquiring the Common Shares for investment purposes. MCAPM may, from time to time, acquire additional Common Shares or other securities of NXT or dispose of some or all of the Common Shares or other securities of NXT that it owns at such time. MCAPM currently has no other plans or intentions that relate to or would result in any of the actions listed above, but depending on market conditions, general economic and industry conditions, trading prices of NXT's securities, NXT's business, financial condition and prospects and/or other relevant factors, MCAPM may develop such plans or intentions in the future.

Forward-Looking Statements

The information in this news release has been prepared as at November 25, 2025. Certain statements in this news release, referred to herein as "forward-looking statements", constitute "forward-looking information" under the provisions of Canadian securities laws. These statements can be identified by the use of words such as "expected", "may", "will" or similar terms. Forward-looking statements in this news release include statements relating to MCAPM's future plans regarding NXT.

SOURCE: NXT Energy Solutions, Inc.

View the original press release on ACCESS Newswire

A.Clark--AT

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Arizona Tribune - Early Warning Report Issued Pursuant to National Instrument 62-103 in Connection with the Acquisition of Common Shares of NXT Energy Solutions Inc.

Early Warning Report Issued Pursuant to National Instrument 62-103 in Connection with the Acquisition of Common Shares of NXT Energy Solutions Inc.

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