20:41:46 EDT Fri 19 Apr 2024
Enter Symbol
or Name
USA
CA



Trillion Energy International Inc
Symbol TCF
Shares Issued 185,169,793
Close 2022-01-20 C$ 0.185
Market Cap C$ 34,256,412
Recent Sedar Documents

Trillion Energy completes move to Canada

2022-01-21 09:38 ET - News Release

Mr. Arthur Halleran reports

COMPANY ANNOUNCES COMPLETION OF MOVE TO CANADA

Trillion Energy International Inc.'s previously announced proposed merger and continuation to redomicile from Delaware to a British Columbia corporation has been completed and is now effective. As noted in prior releases, the company considers the move fundamental to reducing costs and regulatory filings and is pivotal to securing a brokered financing with a Canadian investment bank to finance development of its SASB Gas field. This redomicile of Trillion to Canada will streamline the activities required to drill and produce the SASB gas field.

The process to redomicile has been completed by way of (a) completion of a plan of merger from Delaware into its British Columbia subsidiary and (b) concurrently completing an amalgamation with that subsidiary under the laws of British Columbia.

The repatriation transaction did not result in any changes to the board, management, day-to-day conduct of the business of the company or its strategy. Among other advantages, management expects a reduction in the company's regulatory compliance costs, an enhanced ability to access the capital markets and an increase to the number of potential investors. Completion of the repatriation transactions will reduce or eliminated certain United States resale restrictions on common shares previously issued by the company in private placement transactions. As a result of the repatriation transaction, the company concluded that it will meet the definition of a foreign private issuer, as defined under Rule 3b-4 of the Securities Exchange Act of 1934, as amended.

Pursuant to the repatriation transaction, shareholders will receive or shall be entitled to receive, for everyone share of common stock of Trillion Energy International, one common share of the now British Columbia-incorporated Trillion Energy Inc. Pursuant to the repatriation transaction, Trillion expects no change to the company's ticker symbols.

Arthur Halleran, chief executive officer, stated: "We are pleased to have completed the move and now plan to expeditiously complete our financing and secure our drilling rig contract. Current natural pricing is at historic highs in the region which bodes well for our SASB natural gas drilling program we expect to commence later this year."

About Trillion Energy International Inc.

Trillion Energy is an oil and gas producing company with multiple assets throughout Turkey and Bulgaria. The company is 49-per-cent owner of the SASB natural gas field, one of the Black Sea's first and largest-scale natural gas development projects; a 19.6-per-cent (except three wells with 9.8 per cent) interest in the Cendere oil field; and, in Bulgaria, the Vranino 1-11 block, a prospective unconventional natural gas property.

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