Trillion Energy International Inc. (CSE: TCF) (OTCQB: TRLEF) has announced a strategic move to settle $386,295.42 in debt by issuing 7,725,908 common shares at $0.05 per share to its directors, officers, and consultants. This decision underscores the company’s approach to managing its financial obligations while adhering to regulatory requirements. Notably, 3.9 million of these shares are allocated to management, constituting a related-party transaction under MI 61-101. The company has utilized exemptions from the formal valuation and minority approval requirements, a permissible action given that the insider portion of the transaction does not exceed 25% of the company’s market capitalization.
The issuance of shares is a critical step for Trillion Energy as it navigates its financial and operational strategies. All shares issued as part of this settlement will be subject to a four-month-plus-one-day hold period in compliance with Canadian securities law, ensuring transparency and fairness in the transaction. This move not only addresses the company’s immediate financial liabilities but also reflects its commitment to maintaining good governance practices.
Trillion Energy International Inc. is actively engaged in oil and natural gas production, with a particular focus on Europe and Türkiye. The company’s portfolio includes a 49% interest in the SASB natural gas field and a 19.6% stake in the Cendere oil field, positioning it as a significant player in the energy sector. By settling its debt through share issuance, Trillion Energy demonstrates a proactive approach to financial management, which could enhance investor confidence and support its long-term growth objectives.
For further details on Trillion Energy International Inc. and its operations, interested parties can refer to the company’s filings on https://www.sedar.com and its official website. This development is a testament to the company’s resilience and strategic planning in the face of financial challenges, marking an important milestone in its corporate journey.
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