Trillion Energy International Inc. has achieved a significant milestone by securing approval from its 12.0% convertible debentureholders for crucial financial amendments. This approval facilitates the extension of the maturity date from April 30, 2025, to July 31, 2025, providing the company with additional time to meet its financial obligations. The agreement includes the settlement of $899,940 in accrued interest through the issuance of 27,270,910 common shares at a price of $0.033 per share, alongside an $85,000 extension fee also paid in shares.
Furthermore, Trillion Energy plans to issue 1,735,000 shares to address $57,255 of consultant debt, contingent upon receiving the necessary regulatory approvals. These strategic financial maneuvers are designed to restructure the company's debt while conserving cash resources, underscoring a prudent approach to financial management. The company's focus remains steadfast on oil and natural gas production in Europe and Türkiye, with significant interests in the SASB natural gas field in the Black Sea and the Cendere oil field.
This development is indicative of Trillion Energy's commitment to maintaining financial flexibility as it pursues its exploration and production objectives. The successful negotiation with debentureholders reflects confidence in the company's strategic direction and its ability to navigate the complexities of the energy sector. For more information on Trillion Energy's operations and financial strategies, visit https://www.trillionenergy.com.
