6-K - Trillion Energy International Inc. | StockGist

AI Analysis

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Trillion Energy announced a debenture settlement agreement to convert CAD$11 million of debt into equity and forgive approximately CAD$5.37 million, contingent on raising at least CAD$10 million in new equity financing by September 30, 2026.

Key Takeaways

1The Company entered into a Fourth Supplemental Indenture on March 20, 2026 to amend terms of $15,000,000 principal amount convertible debentures.

2Total amount due as of January 31, 2026 is CAD$16,379,828.49, comprising CAD$14,999,000 principal and CAD$1,380,828.49 interest.

3Debenture Holders agreed to convert CAD$11,000,000 of the Amount Due into common shares at the price of the new Financing.

4Debenture Holders agreed to write off and fully forgive approximately CAD$5.37 million of the Amount Due.

5The settlement is conditional on the Company completing a minimum CAD$10,000,000 equity financing by September 30, 2026.

6If the Financing is not completed by the deadline, the Fourth Supplemental Indenture terminates and the full Amount Due becomes immediately payable.

Current Report Details

Event Type

Securities Issuance

Disclosure

Voluntary

Variant

6-K

Items Reported

6-K

Current Report on Form 6-K

Securities Issuance

Transaction Details

Material Agreement

Agreement: Fourth Supplemental Debenture Indenture
Parties: Trillion Energy International Inc., Debenture Holders, Odyssey Trust

•Amends convertible debenture indenture dated April 20, 2023 for aggregate principal amount of $15,000,000.
•Authorizes settlement of Amount Due contingent on completion of Financing.
•Provides for conversion of CAD$11,000,000 of debt into common shares.
•Provides for forgiveness of approximately CAD$5.37 million of debt.
•Terminates automatically if Financing minimum of CAD$10,000,000 is not raised by September 30, 2026.

Debt / Financing

Instrument: Convertible Debentures
Principal: 15000000
Rate: 12.0%

Exhibits (2)

6-K

99.1

EX-99.1