Trillion Energy signs LOI with US investment fund to obtain up to US$17.5M in new financing
The funds will be used to finance the development of new producing gas wells on the SASB natural gas field, Black Sea
The planned financing includes an overriding royalty on gas and oil production and a convertible debt scheme
Trillion Energy International Inc (CSE:TCF) (OTCMKTS:TCFF) (FRA:3P2N) has signed a letter of intent (LOI) with a US investment fund to obtain up to US$17.5 million in new financing.
In a statement, the company said the funds will be used to finance the development of new producing gas wells on the South Akcakoca Sub-Basin (SASB) natural gas field, Black Sea.