Trillion Energy Signs Letter of Intent for USD $17.5 Million in Debt and Royalty Financing - Seite 2

If a period of more than twelve (12) months passes without an advance being made on the Loan Facility and if any balance of the Loan is outstanding, either party may cancel the whole (but not less than the whole) of the unadvanced portion of the available Loan Facility upon fifteen (15) business days prior notice. A standby fee of 2.5% per annum is payable on the balance of the unused Loan Facility amount.

The Subsequent Advances (including all interest accrued thereon) may be converted at the election of the lender into Common Shares at a price per Common Share calculated in accordance with the rules and policies of the CSE Exchange equal to a 20% premium to individual daily volume weighted average prices calculated based on a VWAP for the last 30 days trading volume.

Other

The LOI is subject to, inter alia, satisfactory completion, preparation, and execution of definitive documentation, including a satisfactory due diligence review acceptable to the Company and Investor, and an agreed upon CapEx Plan for SASB development in advance.

Trillion’s CEO Arthur Halleran stated: “The combined debt and royalty financing is designed to realize the significant potential revenue stream from the SASB gas field and to minimize dilution to our existing shareholders from obtaining capital to do so. We are hopeful to close the financing and move forward into redevelopment this year.”

About the Company

Trillion Energy is an oil and gas producing company with multiple assets throughout Turkey and Bulgaria. The Company is 49% owner of the SASB natural gas field, one of the Black Sea’s first and largest scale natural gas development projects; a 19.6% (except three wells with 9.8%) interest in the Cendere oil field; and in Bulgaria, the Vranino 1-11 block, a prospective unconventional natural gas property.

For further information, please see our website: www.trillionenergy.com or email us: [e-mail]. The Company’s NI 51-101 and other reports relating to its reserves as of December 31, 2020 are filed on www.sec.gov, www.sedar.com, www.thecse.com, as well as the Company’s website.

Contact
Art Halleran: 1-250-996-4211
Corporate offices: 1-778-819-1585
e-mail: [e-mail]
Website: www.trillionenergy.com

Cautionary Statement Regarding Forward-Looking Statements and other information about this news release and the Company reserves

The accuracy of any resources estimate is a function of the quality and quantity of available data and of engineering interpretation and judgement. While resources estimate presented herein are considered reasonable, the estimates should be accepted with the understanding that reservoirs performance subsequent to the date of the estimate may justify revision, either upward or downward. Revenue projections presented in this report are based in part on forecasts of market prices, currency exchange rates, inflation, market demand and government policy which are subject to many uncertainties and may, in future, differ materially from the forecasts utilized herein. Present values of revenues documented in this report do not necessarily represent the fair market value of the resources evaluated herein.