Mr. Arthur Halleran reports

TRILLION ENERGY ANNOUNCES PRICING OF UP TO $10 MILLION MARKETED PUBLIC OFFERING

Trillion Energy International Inc. has priced the previously announced (see the company's news release dated Nov. 9, 2023) best-efforts marketed public offering of common shares of the company. Pursuant to the offering, which is being conducted on a best-efforts agency basis, Trillion will issue the common shares at a price of 30 cents per common share for aggregate gross proceeds of up to $10-million.

The offering is being conducted on a best-efforts agency basis pursuant to the terms and conditions of an agency agreement to be entered into between the company and Echelon Wealth Partners Inc., as lead agent and sole book runner, and is subject to customary closing conditions, including the approval of the securities regulatory authorities and the Canadian Securities Exchange.

The company has granted Echelon an option to purchase up to an additional 15 per cent of the common shares sold under the offering at the issue price. The overallotment option may be exercised, in whole or in part, to purchase common shares as determined by Echelon upon written notice to the company at any time up to 30 days following the closing date of the offering.

The offering will be completed: (i) by way of a short form prospectus to be filed in the Canadian jurisdictions; and (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; 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.

Trillion intends to use the net proceeds from the offering to finance its 2023/2024 capital program, the payment of certain accounts payable related to the drilling at SASB and for general working capital purposes.

The offering is expected to close on or about Nov. 24, 2023, or such other date as the company and Echelon may agree.

The amended and restated preliminary short form prospectus will be available on SEDAR+.

About Trillion Energy International Inc.

Trillion Energy is focused on oil and natural gas production for Europe and Turkey with natural gas assets in Turkey. 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, and has a 19.6-per-cent (except three wells with 9.8-per-cent) interest in the Cendere oil field. The company has a 50-per-cent interest in three high-impact oil exploration blocks in southeast Turkey.

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