Mr. Art Halleran reports

TRILLION ENERGY INTERNATIONAL ANNOUNCES FILING OF FINAL SHORT FORM PROSPECTUS

Further to the press releases dated June 3 and June 8, 2022, Trillion Energy International Inc. has filed its final short form prospectus with respect to its increased best effort marketed public offering of units of the company at a price of 31 cents per unit for gross proceeds of up to $20-million.

As previously announced, each unit will consist of one common share of the company and one-half of one common share purchase warrant. Each warrant shall entitle the holder thereof to acquire one common share for an exercise price of 50 cents for a period of 36 months following the closing date of the offering.

The offering will be conducted by Echelon Capital Markets as lead agent and sole bookrunner, along with a syndicate of agents, including Research Capital Corp., and is subject to customary closing conditions, including the approval of the securities regulatory authorities and the Canadian Securities Exchange.

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 U.S. Securities Act of 1933, as amended; and (iii) outside of 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 per cent of the units sold under the offering at the issue price. The overallotment 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 finance 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.

About Trillion Energy International Inc.

Trillion 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.

We seek Safe Harbor.