NXT Energy Solutions Inc. Announces Completion of Sale and Leaseback Transaction
Calgary, AB – NXT Energy Solutions Inc. (TSX:SFD | OTCQB:NSFDF) (“NXT Energy” or the “Company”) is pleased to announce that it has closed a sale and leaseback transaction with a Calgary based international aircraft service provider (“the Lessor”) whereby the Lessor has purchased NXT’s Cessna Citation aircraft for US $2,300,000 (approximately $2,700,000 Canadian dollars after costs) and the aircraft will remain dedicated to NXT over the next 5 years. The transaction was completed and funds received on April 28th, 2017.
The aircraft was originally purchased by NXT in 2015 for US $2,000,000. The transfer will provide NXT with additional working capital as the Company finalizes contracts for its patented SFD® exploration technology.
About NXT Energy Solutions
NXT Energy is a Calgary based company whose proprietary Stress Field Detection (“SFD®“) survey system utilizes quantum-scale sensors to detect gravity field perturbations in an airborne survey method which can be used both onshore and offshore to remotely identify areas with exploration potential for traps and reservoirs. The SFD® survey system enables our clients to focus their hydrocarbon exploration decisions concerning land commitments, data acquisition expenditures and prospect prioritization on areas with the greatest potential. SFD® is environmentally friendly and unaffected by ground security issues or difficult terrain, and is the registered trademark of NXT Energy Solutions Inc. NXT Energy provides its clients with an effective and reliable method to reduce time, costs, and risks related to exploration.
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