Trillion Energy International Inc. (CSE:TCF, OTCQB:TRLEF) issued 3.18 million shares at $0.20 per share to settle a bona fide debt of $636,000 owed to CEO Arthur Halleran and directors David Thompson and Sean Stofer. The shares are subject to a four-month hold period.
Arthur Halleran, the CEO, converted past compensation into shares, expressing confidence in the company's long-term prospects, citing a similar value opportunity in 2020 when he converted most of his salary into shares. "I’m all in on Trillion Energy for the long term," he said.