TRLEF - News Brief: Trillion Energy International

2023-09-14 14:02:22 ET

Vancouver, BC based %TrillionEnergyInternational (CSE: ) (OTCQB: ) (Frankfurt: Z62) announced that it intends to proceed with a consolidation of its outstanding common shares on the basis of five pre-consolidation Common Shares for one post-consolidation Common Share.

According to the release, currently, a total of 389,677,325 Common Shares are issued and outstanding. Accordingly, when the Consolidation is put into effect, a total of approximately 77,935,465 post-Consolidation Common Shares would be issued and outstanding, assuming there are no other changes in the issued capital of the Company. All outstanding convertible instruments (including convertible debentures, options and warrants) will be adjusted on the equivalent ratio of the Consolidation.

Trillion is an oil and gas producing company with multiple assets throughout Turkiye. 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 three oil exploration blocks located in Cudi-Gabar Oil Petroleum Province, SE Turkiye.

Shares are trading unchanged at $0.265