Trillion Energy rebrands as Dune Oil as it deepens Türkiye oil focus

Trillion Energy International Inc. (CSE:TCF, OTCQB:TRLEF, FRA:Z620) volition alteration its sanction to Dune Oil Corp, the institution said, arsenic it shifts its strategical absorption toward lipid improvement and exploration.

The sanction alteration takes effect August 4, erstwhile the company's shares volition statesman trading nether the caller ticker "DUNE" connected the Canadian Securities Exchange.

The institution besides said it has closed different tranche of its antecedently announced non-brokered backstage placement, issuing 1.03 cardinal units astatine C$0.15 per portion for gross proceeds of C$154,500. It besides settled C$168,000 successful outstanding indebtedness with arm's magnitude parties done the issuance of astir 1.1 cardinal units.

Each portion consists of 1 communal stock and one-half of 1 stock acquisition warrant, with each full warrant exercisable astatine C$0.25 per stock for 1 twelvemonth from issuance.

Trillion said proceeds from the offering volition spell toward contractual enactment programme obligations connected the M47 Concession, wherever it has paid a full of US$800,000 toward enactment commitments, arsenic good arsenic audit and wide firm purposes, capitalist relations activities, offering expenses and wide moving capital.

Trillion is simply a Canadian lipid exploration institution focused connected Türkiye. It has an statement to gain up to a 29% moving involvement successful the M47 lipid exploration block, comprising the C3 and C4 licences, located successful the Cudi-Gabar petroleum state of southeastern Türkiye.