MCAPM, LP Secures Stake in NXT Energy Solutions

NXT Energy Solutn (TSE:SFD) has released an update.

MCAPM, LP has invested $2 million in NXT Energy Solutions Inc. through unsecured convertible debentures, with an interest rate of 10% per annum, maturing in 2026. The debentures can be converted to common shares, potentially increasing Mork Capital’s ownership in NXT from 19.1% to approximately 28.1%. NXT has agreed to consider Mork Capital’s representative, Peter Mork, for a board position at the upcoming annual general meeting.

For further insights into TSE:SFD stock, check out TipRanks’ Stock Analysis page.