Trillion Energy Announces Payment of Director Fees and Debt Settlements
Trillion Energy International (OTCQB: TRLEF) has announced a debt settlement through the issuance of 3,516,493 common shares, valued at $204,436.07. The settlement includes payment to directors, officers, and consultants.
Of the total shares, 1,209,413 common shares were issued specifically for 2024 directors fees and management services from directors and an officer. This insider settlement qualifies as a related-party transaction under MI 61-101, though the company has received exemptions from formal valuation and minority shareholder approval requirements as the fair market value does not exceed 25% of the company's market capitalization.
Trillion Energy International (OTCQB: TRLEF) ha annunciato un accordo per la riduzione del debito attraverso l'emissione di 3.516.493 azioni ordinarie, valutate a $204.436,07. L'accordo include pagamenti a direttori, funzionari e consulenti.
Di tutte le azioni, 1.209.413 azioni ordinarie sono state emesse specificamente per le spese dei direttori per il 2024 e per i servizi di gestione da parte di direttori e un funzionario. Questo accordo tra insider si qualifica come una transazione con parti correlate ai sensi della MI 61-101, sebbene l'azienda abbia ricevuto esenzioni dai requisiti di valutazione formale e approvazione degli azionisti di minoranza in quanto il valore di mercato equo non supera il 25% della capitalizzazione di mercato dell'azienda.
Trillion Energy International (OTCQB: TRLEF) ha anunciado un acuerdo de liquidación de deuda mediante la emisión de 3,516,493 acciones ordinarias, valoradas en $204,436.07. El acuerdo incluye pagos a directores, funcionarios y consultores.
Del total de acciones, 1,209,413 acciones ordinarias se emitieron específicamente para honorarios de directores y servicios de gestión de directores y un funcionario para 2024. Este acuerdo entre personas relacionadas califica como una transacción con partes relacionadas bajo la MI 61-101, aunque la empresa ha recibido exenciones de los requisitos de valoración formal y aprobación de accionistas minoritarios, ya que el valor de mercado justo no supera el 25% de la capitalización de mercado de la empresa.
Trillion Energy International (OTCQB: TRLEF)는 3,516,493주 보통주 발행을 통해 부채 해결을 발표했으며, 이는 $204,436.07로 평가됩니다. 이 해결책은 이사, 임원 및 컨설턴트에 대한 지급을 포함합니다.
총 주식 중 1,209,413주 보통주는 2024년 이사 수수료 및 이사와 한 임원의 관리 서비스에 대해 특별히 발행되었습니다. 이 내부자 해결은 MI 61-101에 따른 관련 당사자 거래로 간주되지만, 공정 시장 가치가 회사의 시장 자본금의 25%를 초과하지 않기 때문에 회사는 공식 평가 및 소액 주주 승인 요구 사항에서 면제를 받았습니다.
Trillion Energy International (OTCQB: TRLEF) a annoncé un règlement de dette par l'émission de 3.516.493 actions ordinaires, d'une valeur de 204.436,07 $. Ce règlement comprend des paiements aux directeurs, aux dirigeants et aux consultants.
Sur le total des actions, 1.209.413 actions ordinaires ont été émises spécifiquement pour les frais des directeurs de 2024 et les services de gestion fournis par des directeurs et un dirigeant. Ce règlement entre initiés est considéré comme une transaction entre parties liées selon la MI 61-101, bien que la société ait reçu des exemptions des exigences d'évaluation formelle et d'approbation des actionnaires minoritaires, car la juste valeur marchande ne dépasse pas 25 % de la capitalisation boursière de la société.
Trillion Energy International (OTCQB: TRLEF) hat eine Schuldenregelung durch die Ausgabe von 3.516.493 Stammaktien angekündigt, die mit $204.436,07 bewertet sind. Die Regelung beinhaltet Zahlungen an Direktoren, Führungskräfte und Berater.
Von der Gesamtzahl der Aktien wurden 1.209.413 Stammaktien speziell für die Honorare der Direktoren und Managementservices von Direktoren und einem Offizier für 2024 ausgegeben. Diese Insider-Regelung gilt als Transaktion mit nahestehenden Personen gemäß MI 61-101, obwohl das Unternehmen von den Anforderungen an eine formelle Bewertung und der Genehmigung durch Minderheitsaktionäre befreit wurde, da der faire Marktwert 25% der Marktkapitalisierung des Unternehmens nicht übersteigt.
- Debt reduction of $204,436.07 without cash expenditure
- Management showing confidence by accepting shares as payment
- Plans to recommence drilling and workover operations
- Shareholder dilution through issuance of 3,516,493 new shares
- Company unable to pay directors and consultants in cash
Vancouver, B.C., Feb. 27, 2025 (GLOBE NEWSWIRE) -- Trillion Energy International Inc. (“Trillion” or the “Company”) (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62), announces the issuance of an aggregate of 3,516,493 common shares of the Company in settlement of
In connection with the Debt Settlement, an aggregate of 1,209,413 common shares of the Company were issued for 2024 directors fees and certain management services from directors and 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
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
Contact
Sean Stofer, Chairman
Brian Park, VP of Finance
1-778-819-1585
E-mail: info@trillionenergy.com
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.
FAQ
How many shares did Trillion Energy (TRLEF) issue for debt settlement in February 2024?
What portion of TRLEF's debt settlement shares were issued for director fees in 2024?
Why was Trillion Energy (TRLEF) exempt from MI 61-101 requirements for the insider settlement?
What is the purpose of TRLEF's debt settlement according to management?
