Trillion Energy International Inc. (CSE:TCF, OTCQB:TRLEF) told investors it is upsizing its previously announced non-brokered private placement of up to 15 million units to 20 million units at $0.09 each for aggregate gross proceeds of up to $1.8 million.
Each unit will be comprised of a share and a share purchase warrant, exercisable for $0.18 per share for two years from issuance.
The warrants will include an acceleration provision whereby if the company’s shares trade at $0.35 or higher for seven days, the company may accelerate the expiry of the warrants.