Trillion Energy International Inc. has finalized a debt settlement by issuing 2,237,082 common shares to cover $101,854.10 in outstanding debts, with the shares under a four-month and one-day hold period as per Canadian securities laws. This transaction notably includes 573,002 shares issued to an officer for management services, classified as a related-party transaction under Multilateral Instrument 61-101. The company leveraged exemptions from formal valuation and minority shareholder approval, given the insider involvement is below 25% of its market capitalization.
This approach enables Trillion Energy to address its financial liabilities without depleting cash reserves. Specializing in oil and natural gas production across Europe and Türkiye, Trillion Energy holds significant stakes in the SASB natural gas field in the Black Sea (49%) and the Cendere oil field (19.6%). The issuance reflects a broader corporate strategy of utilizing equity transactions to reconcile debt reduction with the need for operational capital, a tactic frequently employed by public companies navigating similar financial landscapes.
