TRILLION ENERGY INTERNATIONAL ANNOUNCES ENHANCED PUBLIC OFFERING

Trillion Energy International Inc.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRES OR FOR DISTRIBUTION IN THE UNITED STATES

Vancouver, BC, June 08, 2022 (GLOBE NEWSWIRE) — Trillion Energy International Inc.. (“trillion“, or the “Company”) (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62) is pleased to announce that, further to its press release dated June 3, 2022, it is increasing its best efforts public offering (the “OfferUnits“” of the Company at a price of $0.31 per unit (the “Issue price”) from gross proceeds of up to $12,000,000 to 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 common share purchase warrant (each full warrant, one “Common Share Warrant”). “). Each warrant will entitle the holder to acquire one common share at an exercise price of $0.50 for a period of 36 months following the closing date of the placement.

The Offering will be made by Echelon Wealth Partners Inc. (“Echelon”) as lead agent and sole bookrunner, with a syndicate of agents including Research Capital Corporation (and with Echelon, the “OfficersCSE”).

The Offering is expected to be made: (i) by means of a short form prospectus to be filed with the securities authorities of 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 Law”); and (iii) outside of Canada and the United States on a basis that does not require 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 24, 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 after 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, as well as for working capital and general corporate purposes.

The preliminary short form prospectus relating to the Offering is available on SEDAR at www.sedar.com.

This press release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under United States securities law or any state securities law and may not be offered or sold in the United States or to United States persons. unless registered under United States securities law and applicable state securities laws or an exemption. from this recording is available.

About

Trillion is an oil and gas producing company with multiple assets across Turkey and Bulgaria. The Company owns 49% of the SASB natural gas field, one of the first and largest natural gas development projects in the Black Sea; a 19.6% stake (excluding three wells at 9.8%) in the Cendere oil field; and in Bulgaria, the Vranino 1-11 block, a potential unconventional natural gas property. Further information is available at www.sedar.com and on our website.

Contact

Art Halleran: 1-250-996-4211
Corporate offices: 1-778-819-1585
E-mail: info@billionenergy.com
Website: www.trillionenergy.com

Forward-looking information

This press release contains forward-looking statements based on current expectations, estimates and projections regarding the company’s business and prospects, as well as management’s beliefs and certain assumptions made by management. Words such as “plans”, “expects”, “intends”, “plans”, “believes”, “seeks”, “estimates”, “may”, “should”, “will” and variations thereof are intended to identify forward-looking statements. These statements speak only as of the date hereof and are subject to change. The Company undertakes no obligation to publicly revise or update any forward-looking statements for any reason. These statements include, but are not limited to, statements regarding the Company’s prospectus listing on the Canadian Securities Exchange, the potential market impact of its securities, expansion and business strategies, anticipated growth and the amount of fundraising needed to reach the previous one. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual results could differ materially and adversely from those expressed in the forward-looking statements due to a variety of factors. These factors include unforeseen securities regulatory challenges, COVID, oil and gas price fluctuations, operational and geological risks, the Company’s ability to raise necessary development funds; the outcome of trade negotiations; changes in technical or operating conditions; the cost of extracting gas and oil may be too high to make it unprofitable or profitable to do so and other factors discussed from time to time in company filings at www .sedar.com, including the most recently filed Annual Report on Form 20-F and subsequent filings for the first quarter of 2022. For a complete summary of our oil and gas reserves information for Turkey, please refer to our forms F-1,2,3 51-101 filed on www.sedar.com, and or request a copy of our report on reserves effective as of December 31, 2021 and our report on potential resources effective as of October 31, 2021 .

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