Trillion Energy Secures Debentureholder Approval for Debt Restructuring
Trillion Energy International has obtained approval from debentureholders to extend debt maturity and settle accrued interest through share issuances, demonstrating a strategic approach to managing its financial obligations in the oil and gas sector.
Trillion Energy International has successfully secured shareholder approval for key financial restructuring measures, including a debt maturity extension and interest settlement strategy. Debentureholders have agreed to extend the maturity date of 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 transactions are subject to regulatory approvals and represent a strategic approach to managing the company's financial obligations. The debt restructuring provides Trillion Energy with additional financial flexibility and demonstrates proactive management of its capital structure.
The company, which focuses on oil and natural gas production in Europe and Türkiye, currently holds a 49% interest in the SASB natural gas field in the Black Sea and a 19.6% interest in the Cendere oil field. This financial maneuver supports the company's ongoing operations and exploration efforts in the region.