Trillion Announces Closing of Debt Settlement

Rhea-AI Summary

Trillion Energy International Inc. has announced the settlement of $149,214.75 in outstanding debt by issuing 746,073 common shares at a deemed price of $0.20 each. This debt settlement aims to strengthen the company's financial standing. The issued shares will be subject to a four-month hold period according to Canadian securities laws and are not registered under U.S. Securities Act, thus facing resale restrictions. Trillion Energy operates in Turkey and Bulgaria, holding interests in significant natural gas and oil fields.

Positive

• Settlement of $149,214.75 in debt improves financial position.
• Issuance of shares may attract future investors.

Negative

• Issuing new shares could dilute existing shareholder equity.
• Debt settlement shows reliance on equity financing.

VANCOUVER, British Columbia and ANKARA, Turkey, Sept. 09, 2021 (GLOBE NEWSWIRE) -- Trillion Energy International Inc. (the "Corporation" or "Trillion") CSE:TCF (OTC:TCFF; Frankfurt 3P2N) is pleased to announce that it has settled a total of $149,214.75 in outstanding debt through the issuance to certain creditors of 746,073 common shares in the capital of the Corporation (the "Common Shares"), at a deemed issue price of $0.20 per Common Share (the "Debt Settlement").

The securities issued in connection with the Debt Settlement will be subject to a 4 month hold period in accordance with applicable securities laws in Canada. The Common Shares have not been registered under the United States Securities Act of 1933 and are subject to resale restrictions under same.

About the Corporation

Trillion Energy is an oil and gas producing company with multiple assets throughout Turkey and Bulgaria. The Company is 49% owner of the SASB natural gas field, one of the Black Sea’s first and largest scale natural gas development projects; a 19.6% (except three wells with 9.8%) interest in the Cendere oil field; and in Bulgaria, the Vranino 1-11 block, a prospective unconventional natural gas property.

For further information, please email: info@trillionenergy.com.

The Company’s NI 51-101 and other reports relating to its reserves as of December 31, 2020 are filed on www.sedar.com, www.thecse.com, as well as the Company’s website www.trillionenergy.com.

Contact
Art Halleran: 1-250-996-4211
Corporate offices: 1-778-819-1585
e-mail: info@trillionenergy.com
Website: www.trillionenergy.com

FAQ

What is Trillion Energy's recent debt settlement amount?

Trillion Energy has settled $149,214.75 in outstanding debt.

How many shares did Trillion Energy issue for debt settlement?

Trillion Energy issued 746,073 common shares for the debt settlement.

What is the deemed issue price of the shares?

The deemed issue price of the shares is $0.20 each.

What restrictions are placed on the newly issued shares?

The newly issued shares are subject to a four-month hold period under Canadian securities laws.

Which sectors does Trillion Energy operate in?

Trillion Energy operates in the oil and gas sector with assets in Turkey and Bulgaria.