Trillion Energy Announces Debt Settlements
By GlobeNewswire Published on May 31, 2025, 05:00 IST
Vancouver, B.C. , May 30, 2025 (GLOBE NEWSWIRE) — Trillion Energy International Inc. ('Trillion' or the 'Company') (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62), announces that it proposes to issue an aggregate of 2,237,082 common shares of the Company in settlement of $101,854.10 in debt owed by the Company to consultants and an officer of the Company (the 'Debt Settlement'). The common shares will be subject to a four month and one day hold period from the date of issuance as per applicable Canadian securities legislation.
In connection with the Debt Settlement, a total of 573,002 common shares of the Company are being issued for certain management services from an officer of the Company (the 'Insider Settlement').
The Insider Settlement is considered a 'related-party transaction' within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ('MI 61-101'). The Company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of the related party participation in the Debt Settlement based on that the fair market value of such insider participation does not exceed 25% of the Company's market capitalization.
About the Company
Trillion Energy International Inc is focused on oil and natural gas production for Europe and Türkiye with natural gas assets in Türkiye. The Company is 49% owner of the SASB natural gas field, a Black Sea natural gas development and a 19.6% (except three wells with 9.8%) interest in the Cendere oil field. More information may be found on www.sedarplus.ca , and our website.
Contact
Sean Stofer, ChairmanBrian Park, VP of Finance1-778-819-1585
E-mail: [email protected]
Website: www.trillionenergy.com
Cautionary Statement Regarding Forward-Looking Statements
This news release may contain certain forward-looking information and statements, including without limitation, statements pertaining to the Company's ability to obtain regulatory approval of the executive officer and director appointments. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. Trillion does not undertake to update any forward-looking information except in accordance with applicable securities laws.
These statements are no guarantee of future performance and are subject to certain risks, uncertainties, delay, change of strategy, and assumptions that are difficult to predict and which may change over time. Accordingly, actual results and strategies could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors. These factors include unforeseen securities regulatory challenges, COVID, oil and gas price fluctuations, operational and geological risks, changes in capital raising strategies, the ability of the Company to raise necessary funds for development; the outcome of commercial negotiations; changes in technical or operating conditions; the cost of extracting gas and oil may increase and be too costly so that it is uneconomic and not profitable to do so and other factors discussed from time to time in the Company's filings on www.sedar.com, including the most recently filed Annual Report on Form 20-F and subsequent filings. For a full summary of our oil and gas reserves information for Turkey, please refer to our Forms F-1,2,3 51-101 filed on www.sedarplus.ca, and or request a copy of our reserves report effective December 31, 2023 and filed on April 25, 2024.
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
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Forward-Looking Information can generally be identified by the use of words such as "approximately", "may", "will", "could", "believes", "expects", "intends", "should", "would", "plans", "potential", "project", "anticipates", "estimates", "scheduled" or "forecasts", or other comparable terms that state that certain events will or will not occur. It represents the projections and expectations of the Corporation relating to future events or results as of the date of this press release. 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For more information on the risks and uncertainties that may cause actual results or performance to be materially different from those expressed, implied or presented by the forward-looking information or on the principal assumptions used to derive this information, please refer to the "Forward-Looking Information" section of the Management's Discussion and Analysis for the year ended December 31, 2024. SOURCE Innergex Renewable Energy Inc. View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
