Trillion Energy International Inc. (CSE:TCF, OTCQB:TRLEF, FRA:Z620) said on Friday it plans to raise up to C$2 million through a non-brokered private placement to fund near-term obligations tied to its oil assets in Türkiye.
The company intends to issue up to 13.3 million units at C$0.15 each, with each unit made up of one common share and one-half of a warrant, with each whole warrant exercisable at C$0.25 for one year.Proceeds from the financing will primarily be used to support work commitments under the company’s farm-in agreement on the M47 concession in southeastern Türkiye, along with general working capital, offering expenses and limited investor relations activities.
The M47 concession has been evaluated with 2C contingent resources estimated at 27.6 million barrels and an unrisked net present value (NPV-10) of $733.5 million attributable to Trillion’s 29% working interest.
Trillion is also undertaking a 5-for-1 share consolidation alongside the financing, reducing its outstanding shares to about 41.6 million from roughly 208 million.
President Scott Lower said the financing would provide near-term capital to meet commitments on the M47 asset while positioning the company for planned drilling programs in 2026 and 2027. “We welcome both new and existing shareholders to participate at what we view as an attractive entry point ahead of active newsflow,” Lower told investors.
Trillion said the offering may also include debt settlements on the same terms.