Trillion Energy International Inc. (CSE:TCF, OTCQB:TRLEF) closed its best efforts marketed public offering, issuing 36,057,934 common shares at $0.30 each, generating approximately $10.8 million in gross proceeds.
The offering, conducted in collaboration with Echelon Wealth Partners, aims to fund part of the 2023-2024 programs, settle accounts payable related to SASB drilling, repay loans, and support general working capital needs.
Net proceeds will help advance Trillion's production-focused operations, creating long-term shareholder value, according to CEO Art Halleran.