- Trillion Energy (TCF) has redomiciled from Delaware to a British Columbia corporation
- The move will reduce costs and regulatory filings and facilitate financing for its SASB Gas Field
- It also holds the potential for increased access to capital markets
- Trillion Energy International is an oil and gas producing company with assets in Turkey and Bulgaria
- Trillion Energy (TCF) closed down by 5.41 per cent trading at $0.175 per share
Trillion Energy (TCF) has redomiciled from Delaware to a British Columbia corporation.
The company moved to reduce costs and regulatory filings as well as secure brokered financing with a Canadian investment bank to drill and produce its SASB Gas Field.
Other advantages include enhanced access to capital markets, an increase in potential investors, and the reduction or elimination of certain U.S. resale restrictions on common shares from previous private placements.
The repatriation did not result in any changes to the board, management or day-to-day conduct of the business.
Shareholders are entitled to receive one B.C.-based common share for every Delaware-based share.
“We are pleased to have completed the move and now plan to expeditiously complete our financing and secure our drilling rig contract,” stated Arthur Halleran, Trillion’s CEO. “Current natural gas pricing is at historic highs in the region which bodes well for our SASB natural gas drilling program we expect to commence later this year.”
Trillion Energy International is an oil and gas producing company with assets in Turkey and Bulgaria.
Trillion Energy (TCF) closed down by 5.41 per cent trading at $0.175 per share.