Trillion Energy International has successfully secured approval from its convertible debentureholders for key financial modifications. The company's debenture holders have agreed to extend the maturity date of their 12.0% convertible debentures from April 30, 2025, to July 31, 2025.
As part of the restructuring, the company will issue 27,270,910 common shares at $0.033 per share to settle $899,940 in accrued interest. Debentureholders will also receive an $85,000 extension fee in shares. Additionally, Trillion Energy plans to issue 1,735,000 shares to settle $57,255 of consultant debt.
These financial maneuvers demonstrate the company's strategic approach to managing its debt obligations while preserving cash resources. By converting accrued interest and consultant fees into equity, Trillion Energy can maintain financial flexibility in its ongoing operations in the oil and natural gas production markets of Europe and Türkiye.
All proposed share issuances remain subject to regulatory approvals, highlighting the company's commitment to compliance and transparency in its financial restructuring efforts.
