Latest news with #MI61-101
Business Upturn
13 hours ago
- Business
- Business Upturn
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 , and our website. Contact Sean Stofer, ChairmanBrian Park, VP of Finance1-778-819-1585 E-mail: [email protected] Website: 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 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 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.
Yahoo
19 hours ago
- Business
- Yahoo
Trillion Energy Announces Debt Settlements
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 and our website. Contact Sean Stofer, ChairmanBrian Park, VP of Finance1-778-819-1585E-mail: info@ 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 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 and or request a copy of our reserves report effective December 31, 2023 and filed on April 25, 2024.
Yahoo
a day ago
- Business
- Yahoo
Vanadian Energy Announces Upcoming Annual General and Special Meeting
Vancouver, British Columbia--(Newsfile Corp. - May 30, 2025) - Vanadian Energy Corp. (TSXV: VEC.H) ("VEC" or the "Company"), announces that the Company's 2024 Annual General and Special Meeting of Shareholders (the "AGSM") will be held in-person at Suite 3123, 595 Burrard Street, Vancouver, BC V7X 1J1, on Thursday, June 26th, 2025 at 10:00 am Vancouver time. The Notice of Meeting, Management Information Circular and Form of Proxy related to the AGSM has been mailed to shareholders and can be found on the Company's website at and on SEDAR+ under VEC's issuer profile. At the Meeting, in addition to the regular annual business, shareholders will be asked to consider and approve a proposed debt settlement involving the issuance of 8,885,772 common shares at a deemed price of $0.16 per share to settle $1,421,724 in outstanding debt (the "Debt Settlement"), subject to TSX Venture Exchange approval. As the issuance exceeds 100% of the Company's current outstanding shares and will result in the creation of two new Control Persons, disinterested shareholder approval is required under Exchange policies. The Debt Settlement includes: Clive T. Johnson, director, to receive 3,341,856 shares in settlement of debt of $534,697, resulting in ownership of approximately 29.45% of the outstanding shares of the Company. Gordon Keep, director, through entities he controls, to receive 3,810,938 shares in settlement of debt of $609,750 (discounted by 25% from $813,000), resulting in ownership of approximately 29.34% of the outstanding shares of the Company. The debt settlements with Messrs. Johnson and Keep constitute related party transactions under MI 61-101 (the "Related Party Transactions"). The Related Party Transactions are exempt from the requirement to obtain a valuation in respect thereof under MI 61-101 pursuant to section 5.5(c) of MI 61-101 as the Company is not listed on specified markets. The Company is required to obtain minority shareholder approval for the Related Party Transactions pursuant to MI 61-101. Votes held by Messrs. Johnson, Keep, their affiliates, will be excluded from the votes. Additional details on the proposed Debt Settlement and the Related Party Transactions can be found in the Management Information Circular which has been mailed to shareholders and is available for viewing on SEDAR+ and on the Company's website. The Board of Directors (excluding the interested parties) has approved the Debt Settlement, which is intended to strengthen the Company's balance sheet. Completion remains subject to shareholder and Exchange approval. ABOUT VANADIAN ENERGY CORP. Vanadian Energy Corporation is an energy minerals focused company headed by an experienced team, well versed in mineral exploration and capital markets. The company is focused on the strategic acquisition, exploration, and development of high quality energy mineral properties in Canada and around the world. Vanadian Energy Corporation is building a leading vanadium focused resource company. ON BEHALF OF VANADIAN ENERGY CORP. "Marc Simpson" Marc SimpsonPresident and CEOVanadian Energy CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The foregoing information may contain forward-looking information relating to the future performance of the Company. Forward-looking information is subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward-looking statements. Such risks and other factors include, among others, the actual results of exploration activities, changes in world commodity markets or equity markets, the risks of the mining industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, title disputes, change in government and changes to regulations affecting the mining industry, and other risks and uncertainties detailed from time to time in the Company's filings with the Canadian securities administrators (available at Forward-looking statements are made based on various assumptions and on management's beliefs, estimates and opinions on the date the statements are made. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking information contained herein. The Company undertakes no obligation to update forward-looking statements if these assumptions, beliefs, estimates and opinions or other circumstances should change, except as required by applicable law. To view the source version of this press release, please visit Sign in to access your portfolio
Yahoo
a day ago
- Business
- Yahoo
Centurion Closes First Tranche of Private Placement
Vancouver, British Columbia--(Newsfile Corp. - May 30, 2025) - Centurion Minerals Ltd. (TSXV: CTN) ("Centurion" or the "Company") is pleased to announce that it has closed a first tranche of its previously announced non-brokered private placement and issued 12,300,000 units (each a "Unit") priced at $0.01 per Unit for total gross proceeds of $123,000. Each Unit is comprised of one common share in the capital of the Company (each a "Common Share") and one-half of one Common Share purchase warrant (each a "Warrant"). Each Warrant is exercisable into a common share for a period of 24 months at an exercise price of $0.05. Financing proceeds are to be allocated for working capital and general corporate activities. There are no proposed payments to Non-Arm's Length Parties or Parties conducting Investor Relations Activities. The shares will be subject to a 4-month hold period expiring in September 2027. Finders' fees of $4,000 and 400,000 broker warrants (having the same terms as the placees) have been paid. The non-brokered private placement was carried out pursuant to prospectus exemptions of applicable securities laws and is subject to final acceptance by the TSX Venture Exchange (the "Exchange"). David Tafel, an officer and director of the Company, purchased two million Units for a total consideration of $20,000. David Tafel is hereinafter referred to as the "Insider Placee". The placement to the Insider Placee constituted a "related party transaction", within the meaning of the Exchange Policy 5.9 and Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company has relied on the exemptions from the formal valuation and minority shareholder approval requirements contained in sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101 in respect of related party participation on the basis that neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the subscription for Units by the Insider Placee exceeded 25% of the Company's "market capitalization" (as calculated for the purposes of MI 61-101). Further details will be included in a material change report. Following the first tranche closing of the non-brokered private placement, the Insider Placee advised that he holds 5,703,150 Common Shares representing approximately 10.28% of the issued and outstanding Common Shares of the Company, on a non-diluted basis, and approximately 14.63% on a partially diluted assuming the exercise of previously granted Options outstanding and the Warrants acquired hereunder and forming part of the Units. The Insider Placee advised that prior to the date hereof, he owned 3,703,150 Common Shares representing 8.58% of the issued and outstanding Common Shares on a non-diluted basis. The Insider Placee advised that the Units were acquired by him for investment purposes and with a long-term view of the investment. The Insider Placee may acquire additional securities of the Company either on the open market or through acquisitions or sell securities of the Company either on the open market or through private dispositions in the future, depending on market conditions, reformulation of plans and/or other relevant factors. A copy of the Insider Placee's early warning report will appear on the Company's SEDAR+ profile at The securities referred to in this news release have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. About Centurion Minerals Ltd. Centurion Minerals Ltd. is a Canadian-based company with a focus on precious mineral asset exploration and development in the Americas. Centurion has the right to earn a 100% interest in the Casa Berardi West Gold Project which is located in the prolific gold-producing, greenstone belt of north-eastern Ontario. "David G. Tafel"CEO and Director For Further Information, Contact:David Tafel604-484-2161 Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Statement Regarding Forward-Looking Information This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things, the timing of Project approvals; the timing, terms and completion of any proposed private placement; the expected use of proceeds from the financing. NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES To view the source version of this press release, please visit
Yahoo
a day ago
- Business
- Yahoo
Magnum Goldcorp Inc. Closes Non-Brokered Private Placement
West Vancouver, British Columbia--(Newsfile Corp. - May 30, 2025) - Magnum Goldcorp Inc. (TSXV: MGI) (the "Company" or "Magnum") announces that further to its news release of May 22, 2025, the Company has now closed its private placement. The Company has raised a total of $150,000 through the issuance of 3,000,000 units (the "Units") at $0.05 per Unit. Each Unit consists of one common share and one share purchase warrant, with each warrant entitling the holder to purchase an additional common share for a period of 2 years at an exercise price of $0.20. No finders' fees were paid in connection with the private placement. The Company intends to use the proceeds from this private placement for general working capital purposes. Certain insiders of the Company purchased an aggregate of 200,000 Units under the private placement, constituting, to that extent, a "related party transaction" within the meaning of Exchange Policy 5.9 and Multilateral Instrument 61-101 ("MI 61-101"). The Company has relied on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 (and Policy 5.9) contained in sections 5.5(b) and 5.7(1)(b) of MI 61-101 in respect of such insider participation. The Company did not file a material change report more than 21 days before the expected closing of the private placements, as the details and amounts of the insider participation were not finalized until closer to the closing and the Company wished to close the transaction as soon as practicable for sound business reasons. Magnum Goldcorp Inc. "Douglas L. Mason" _______________________________________ Douglas L. Mason, Chief Executive Officer Contact:info@ 604.922.2030 Neither the TSX Venture Exchange nor its Regulation Services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release includes certain statements that may be deemed "forward-looking statements" within the meaning of applicable securities legislation. All statements, other than statements of historical facts, that address such matters, including the intended use of the proceeds of the private placement, are forward-looking statements and, as such, are subject to risks, uncertainties and other factors which are beyond the reasonable control of the Company. Such statements are not guarantees of future performance and actual results or developments may differ materially from those expressed in, or implied by, this forward-looking information. Any forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and subject to change after that date and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to the account or benefit of a U.S. person absent an exemption from the registration requirements of such Act. NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. To view the source version of this press release, please visit
