TRILLION ENERGY INTERNATIONAL CLOSES $22.5 MILLION

Vancouver, BC, June 29, 2022 (GLOBE NEWSWIRE) — Trillion Energy International Inc.. (“trillion“, or the “Company”) (CSE: TCF) (OTCQB: TRLEF) (Frankfurt: Z62) is pleased to announce the closing of its previously announced best efforts public offering (the “OfferUnits“” of the Company at a price of $0.31 per unit (the “Issue price), pursuant to which it issued 72,536,900 Units, including the sale of 8,020,900 Units to the Agents (as defined below) pursuant to the Over-Allotment Option (as defined below). below), for total gross proceeds of $22,486,439.

As previously announced, each unit consists of one common share of the Company (each a “Ordinary share“) and one-half common share purchase warrant (each full warrant, one “To guarantee”). Each warrant entitles its holder to acquire one common share at an exercise price of $0.50 for a period of 36 months following the closing date of the offering.

The Offer was made by Echelon Capital Markets (“Echelon”) as lead agent and sole bookrunner, with a syndicate of agents including Research Capital Corporation (and with Echelon, the “Officers”).

The CSE has conditionally accepted the listing of the Warrants and the Warrants are expected to begin trading on the CSE under the symbol “TCF.WT” today.

The Company has granted the Agents the option to purchase up to an additional 15% of the Units sold under the Offering (the “Over-allotment option”), at the Issue Price. The Over-Allotment Option was exercised to purchase 8,020,900 Units as part of the closing of the Offering.

The Company intends to use the net proceeds of the Offering to finance the development of the SASB gas fields, as well as for working capital and general corporate purposes, as more particularly described in the short form prospectus. of the Company dated June 24, 2022 prepared and filed in connection with the Offer.

This press release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The Securities have not been and will not be registered under United States securities law or any state securities law and may not be offered or sold in the United States or to United States persons unless be registered under US securities law and applicable state securities laws or an exemption. from this recording is available.

About

Trillion is an oil and gas producing company with multiple assets across Turkey and Bulgaria. The Company owns 49% of the SASB natural gas field, one of the first and largest natural gas development projects in the Black Sea; a 19.6% stake (excluding three wells at 9.8%) in the Cendere oil field; and in Bulgaria, the Vranino 1-11 block, a potential unconventional natural gas property. Further information is available at www.sedar.com and on our website.

Contact

Art Halleran: 1-250-996-4211
Corporate offices: 1-778-819-1585
Email: [email protected]
Website: www.billionenergy.com

Forward-looking information

This press release contains forward-looking statements based on current expectations, estimates and projections regarding the company’s business and prospects, as well as management’s beliefs and certain assumptions made by management. Words such as “plans”, “expects”, “intends”, “plans”, “believes”, “seeks”, “estimates”, “may”, “should”, “will” and variations thereof are intended to identify forward-looking statements. These statements speak only as of the date hereof and are subject to change. The Company undertakes no obligation to publicly revise or update any forward-looking statements for any reason. Such statements include, but are not limited to, statements relating to the intended use of proceeds and listing of the Warrants, potential market impact of its securities, expansion and business strategies, anticipated growth opportunities and the amount of fundraising required to achieve the above. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual results could differ materially and adversely from those expressed in the forward-looking statements due to a variety of factors. These factors include unforeseen securities regulatory challenges, COVID, oil and gas price fluctuations, operational and geological risks, the Company’s ability to raise necessary development funds; the outcome of trade negotiations; changes in technical or operating conditions; the cost of extracting gas and oil may be too high to make it unprofitable or profitable to do so and other factors discussed from time to time in company filings at www .sedar.com, including the most recently filed Annual Report on Form 20-F and subsequent filings for the first quarter of 2022. For a complete summary of our oil and gas reserves information for Turkey, please refer to our forms F-1,2,3 51-101 filed on www.sedar.com, and or request a copy of our report on reserves effective as of December 31, 2021 and our report on potential resources effective as of October 31, 2021 .

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