Trillion Energy Announces Closing of $10.8 Million Marketed Public Offering

Vancouver, British Columbia--(Newsfile Corp. - November 28, 2023) - Trillion Energy International Inc. (CSE: TCF) (OTCQB: TRLEF) (FSE: Z62) ("Trillion", or the "Company") is pleased to announce that, further to the Company's press releases dated November 9, 2023 and November 10, 2023, it has closed its previously announced ‎best efforts marketed public offering of common shares (the "Offering"). Pursuant to the Offering, the Company issued and sold a total of 36,057,934 common shares ("Common Shares") at a price of $0.30 per Common Share for gross proceeds of approximately $10,817,380, including the partial exercise of the over-allotment option. The Offering was conducted pursuant to an agency agreement with Echelon Wealth Partners Inc. (the "Agent") as sole agent and bookrunner.

The net proceeds from the Offering will be used to fund a portion of the Company's 2023-2024 capital programs, the payment of certain accounts payable related to the drilling at SASB, repayment of loans, and for general working capital purposes.

The Company filed a final short form prospectus (the "Prospectus") in all provinces of Canada, except Québec, pursuant to National Instrument 44-101 - Short Form Prospectus Distributions to qualify for distribution the Common Shares offered pursuant to the Offering. Copies of the Prospectus and documents incorporated by reference therein are available electronically on SEDAR+ (www.sedarplus.ca).

Certain insiders of the Company participated in the Offering and subscribed for an aggregate of 548,333 shares for gross proceeds of $164,499.90 (the "Insider Subscriptions"). The Insider Subscriptions constitute "related party transactions" within the meaning of Multilateral Instrument 61-101 -Protection of Minority Securityholders in Special Transactions ("MI 61-101"). The Company is relying on the exemption from valuation requirement and minority approval pursuant to subsection 5.5(a) and 5.7(a) of MI 61-101, respectively, for the insider participation in the Offering, as the securities do not represent more than 25% of the Company's market capitalization, as determined in accordance with MI 61-101. The Corporation did not file a material change report more than 21 days before the closing of the Offering as required by MI 61-101 as the details of the participation by the insiders in the Offering were settled only recently.

Art Halleran CEO stated:

"We are pleased to have successfully closed our financing and would like to express our appreciation to the markets and our supportive shareholders. Our focus now will be on producing positive results in our production focused operations over the short term to create long-term value for shareholders."

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About

Trillion Energy International Inc is focused on oil and natural gas production for Europe and Türkiye with natural gas assets in Türkiye. The Company is 49% owner of the SASB natural gas field, one of the Black Sea's first and largest-scale natural gas development projects and a 19.6% (except three wells with 9.8%) interest in the Cendere oil field. The Company has a 50% interest in 3 high impact oil exploration blocks in S.E. Türkiye. More information may be found on www.sedar.com, and our website.

Contact

Arthur Halleran, Chief Executive Officer
E-mail: arth@trillionenergy.com

Corporate Office: 1-778-819-1585
Corporate E-mail: info@trillionenergy.com
Website: www.trillionenergy.com

Cautionary Statement Regarding Forward-Looking Statements

This news release contains statements and information that, to the extent that they are not historical fact, may ‎constitute "forward-looking information" within the meaning of applicable securities legislation. Forward-‎looking information is typically, but not always, identified by the use of words such as "will", "intends", ‎‎"scheduled", "to be" and "may be" and similar words, including negatives thereof, or other similar expressions ‎concerning matters that are not historical facts. Forward-looking information in this news release includes, but ‎is not limited to, statements regarding the intended use of the net proceeds, the potential impact on the market for its securities, expansion and business strategies, anticipated growth opportunities, and the amount of funds necessary to achieve the foregoing. Such ‎forward-looking information is based on various assumptions and factors that may prove to be incorrect, ‎including, but not limited to, factors and assumptions with respect to the receipt of all necessary regulatory and other approvals or ‎consents; the ability of the Company to successfully implement its strategic plans and initiatives; and whether ‎such strategic plans and initiatives will yield the expected benefits. Although the Company believes that the ‎assumptions and factors on which such forward-looking information is based are reasonable, undue reliance ‎should not be placed on the forward-looking information because the Company can give no assurance that it ‎will prove to be correct or that any of the events anticipated by such forward-looking information will transpire ‎or occur, or if any of them do so, what benefits the Company will derive there from. Actual results could differ ‎materially from those currently anticipated due to a number of factors and risks including, but not limited to: ‎COVID, oil and gas price fluctuations, operational and geological risks, changes in capital raising strategies, the ‎ability of the Company to raise necessary funds for development; the outcome of commercial negotiations; ‎changes in technical or operating conditions; the cost of extracting gas and oil may increase and be too costly so ‎that it is uneconomic and not profitable to do so and other factors discussed from time to time in the ‎Company's filings on www.sedar.com, including the most recently filed Annual Report on Form 20-F and ‎subsequent filings. For a full summary of our oil and gas reserves information for Türkiye, please refer to our ‎Forms F-1,2,3 51-101 filed on www.sedar.com, and updated January 31, 2023. The forward-looking information included in this news release is made ‎as of the date of this news release and the Company does not undertake an obligation to publicly update such ‎forward-looking information to reflect new information, subsequent events or otherwise, except as required by ‎applicable law.‎

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