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NXT NXT ENERGY SOLUTIONS ANNOUNCES SECOND QUARTER 2021 RESULTS ● Energy Solutions CALGARY , AB , August 12 , 2021 - NXT Energy Solutions Inc. ( " NXT " or the " Company " ) ( TSX : SFD ; OTC QB : NSFDF ) today announced the Company's financial and operating results for the quarter ended June 30 , 2021. All dollar amounts herein are in Canadian Dollars unless otherwise identified . Q2 Financial and Operating Highlights Key financial and operational highlights for Q2-21 are summarized below : The Company recorded survey revenue of $ 3.14 million in Q2-21 and YTD 2021 ; Net income per common share for Q2-21 was $ 0.02 basic and $ 0.02 diluted , including stock - based compensation and amortization expense of $ 0.50 million ; Cash flow provided by operating activities was $ 0.73 million during Q2-21 ; Net income per common share for YTD 2021 was $ 0.00 basic and $ 0.00 diluted , including stock based compensation and amortization expense of $ 0.96 million ; Cash flow used in operating activities was $ 0.15 million for YTD 2021 ; Cash and short - term investments at June 30 , 2021 were $ 3.78 million ; ● The Company acquired the rights to use the SFD® technology to explore for geothermal resources ; The Company received $ 1,000,000 from the Business Development Bank of Canada's Highly Affected Sectors Credit Availability Program ( the " HASCAP Loan " ) ; General and administrative ( " G & A " ) expenses decreased by $ 0.13 million ( 16 % ) as compared to Q2-20 , due primarily to the receipt of a higher Canada Emergency Wage Subsidy , the Canada Emergency Rent Subsidy ( " CERS " ) and lower professional fees ; and G & A for YTD - 2021 as compared to YTD - 2020 decreased by $ 0.22 million ( 12 % ) , mostly due to receiving the CERS in 2021 , decreased professional fees , and no business development travel due to the COVID - 19 pandemic . Key financial and operational highlights occurring subsequent to Q2-21 are summarized below : On July 1 , 2021 energy exploration veteran , Gerry Sheehan , joined the Board of Directors ; and The Company began receiving advisory services and funding of up to $ 50,000 from the National Research Council of Canada Industrial Research Assistance Program ( " NRC IRAP " ) to support the research and development of the SFD® technology for geothermal applications .