Trillion Energy Announces Results of Special Stockholders Meeting

Rhea-AI Summary

Trillion Energy International Inc. (CSE: TCF, OTC: TCFF) has successfully approved a resolution to redomicile from Delaware to British Columbia, effective January 1, 2022. At a special stockholders meeting held on December 17, 2021, 54.45% of outstanding shares were represented. 100,590,673 shares (54.35%) voted in favor, while only 158,224 shares opposed. The move aims to lower regulatory compliance costs and enhance capital market access, with no expected changes to management or strategy. The company maintains its current ticker symbols and continues as Trillion Energy Inc.

Positive

• Approval of redomicile expected to reduce regulatory compliance costs.
• Enhanced access to capital markets as a foreign private issuer.
• Strong shareholder support with 54.35% voting in favor.

Negative

• None.

Resolution to Redomicile to Canada has passed to be effective January 1, 2022

Vancouver, BC and Ankara, Turkey, Dec. 17, 2021 (GLOBE NEWSWIRE) -- Trillion Energy International Inc. (“Trillion” or the “Company”) (CSE: TCF) (OTC: TCFF) (Frankfurt: 3P2N) is pleased to announce the results of its December 17, 2021 Special Meeting of Stockholders (the “Meeting”). The sole issue voted on at the meeting was the proposed redomicile from Delaware to British Columbia.

A total of 100,777,850 shares, representing 54.45% of shares outstanding, were represented at the meeting in person or by proxy. The results of the vote were as follows:

                         Total                        %

For              100,590,673          54.35

Against             158,224            0.08

Abstained          34,953            0.02

Not voted    84,291,943          45.55

The Company will proceed with the move effective January 1, 2022.

No material changes to the board, management, day-to-day conduct of the business of the Company or its strategy will occur as a result of the redomicile. Management expects a reduction in the Company’s regulatory compliance costs and an enhanced ability to access the capital markets. Completion of the repatriation will reduce or eliminated certain U.S. resale restrictions on common shares previously issued by the Company in private placement transactions as the Company will meet the definition of a “foreign private issuer”, as defined under Rule 3b-4 of the Securities Exchange Act of 1934. For further details of the move see the Company’s news releases dated September 1, 2021.

No change is expected to the Company’s ticker symbols. The Company will continue under the name Trillion Energy Inc.

About the Company

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.

Contact
Art Halleran: 1-250-996-4211
www.trillionenergy.com
info@trillionenergy.com

FAQ

What is the effective date for Trillion Energy's redomicile to Canada?

The redomicile will be effective January 1, 2022.

What percentage of shares voted in favor of the redomicile for TCFF?

54.35% of shares voted in favor of the redomicile.

Will Trillion Energy's management change after redomiciling to Canada?

No material changes to management or strategy are expected.

How does Trillion Energy's redomicile affect its regulatory compliance costs?

The redomicile is expected to reduce regulatory compliance costs.

What is the impact of the redomicile on Trillion Energy's ticker symbols?

There will be no change to the company's ticker symbols.