Trillion Energy Announces Filing Short Form Prospectus

Source: www.gulfoilandgas.com 6/24/2022, Location: North America

Trillion Energy International Inc. is pleased to announce that, further to its press releases dated June 3 and 7, 2022, it has filed its final short form prospectus with respect to its increased best efforts marketed public offering (the “Offering”) of units (the “Units”) of the Company at a price of $0.31 per Unit (the “Issue Price”) for gross proceeds of up to $20,000,000.

As previously announced, each Unit will consist of one common share of the Company (each a “Common Share”) and one-half of one common share purchase warrant (each full warrant, a “Warrant”). Each Warrant shall entitle the holder thereof to acquire one Common Share for an exercise price of $0.50 for period of 36 months following the closing date of the Offering.

The Offering will be conducted by Echelon Capital Markets (“Echelon”) as lead agent and sole bookrunner, along with a syndicate of agents including Research Capital Corporation (and together with Echelon, the “Agents”), and is subject to customary closing conditions, including the approval of the securities regulatory authorities and the Canadian Securities Exchange (“CSE”).

The Offering is to be completed: (i) by way of the short form prospectus filed with the securities regulators in each province of Canada except Quebec; (ii) on a private placement basis in the United States pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the “U.S. Securities Act”); and (iii) outside Canada and the United States on a basis which does not require the qualification or registration of any of the Company’s securities under domestic or foreign securities laws.

The Offering is expected to close on or about June 29, 2022, or such other date as the Company and the Agents may agree.

The Company has granted the Agents an option to purchase up to an additional 15% of the Units sold under the Offering (the “Over-Allotment Option”), at the Issue Price. The Over-Allotment Option may be exercised in whole or in part to purchase Units as determined by the Agents upon written notice to the Company at any time up to 30 days following the closing date of the Offering.

The Company intends to use the net proceeds of the Offering to fund the development of the SASB gas fields, and for working capital and general corporate purposes.

The final short form prospectus in respect of the Offering is available on SEDAR at www.sedar.com.


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