Debenture Indenture

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Trillion Energy Announces Extension to Expiry Date of Debenture Indenture and Completion of Shares for Debt Settlement
Newsfile· 2025-07-29 13:00
Group 1: Debenture Extension - Trillion Energy International Inc has announced an extension of the maturity date for its 12.0% convertible debentures from July 31, 2025, to October 31, 2025, following consent from holders representing at least 66-2/3% of the principal amount [1] - The convertible debentures, with an aggregate principal amount of $15,000,000, will continue to bear interest at a rate of 12% per annum from August 1, 2025, to October 31, 2025, payable in cash [1] Group 2: Debt Settlement - The company has issued 7,725,908 common shares at $0.05 per share to settle $386,295.42 in debt owed to directors, officers, and consultants [2] - The common shares issued in the debt settlement are subject to a hold period expiring on November 22, 2025 [2] Group 3: Insider Settlement - An aggregate of 3,900,000 common shares were issued for management services from directors and officers, classified as a related-party transaction [3] - The company relied on exemptions from formal valuation and minority shareholder approval requirements due to the fair market value of insider participation not exceeding 25% of the company's market capitalization [3] Group 4: Company Overview - Trillion Energy International Inc focuses on oil and natural gas production in Europe and Türkiye, holding a 49% interest in the SASB natural gas field and a 19.6% interest in the Cendere oil field [4]