"More Shares For Debt Coming",To CEO/Numbered Company of HisLook below..here is the last one he did..Feb. 2nd, 2024 for $636K suppositely owing to him...One has to question this..What kind of services has his number company provided and isn't this a confirm of interest by the CEO (Halleran)..Read it to believe it...its the true and recorded facts as announced by the CEO...How corrupt is this..how does this occur with our highly regulated markets..you may ask. Soon we will see another one, in my opinion. Cheap shares given for a so called questionable "DEBT:, in my opinion..then, they just sell these shares back into the markets putting pressure on the prices and gets retail investors involved. This should not be allowed to occur.."ITS A BLANTON CONFLICT OF INTEREST"...Image CEO being owed $636K, and still collecting his $500K salary...What the Hell is going on here!!!..CEO has done this multiple times during the last 2-3 years...Reminder, starting last August as an insider, CEO was a big seller of over $1.2mm shares , along with others in management. Today you certainly don't see him buying, with this low prices , DO YOU!!!...
Trillion Energy settles insider debt with 3.18M shares
2024-02-02 10:53 ET - News Release
Mr. Arthur Halleran reports
TRILLION ENERGY ANNOUNCES DEBT SETTLEMENT
Trillion Energy International Inc. has issued 3.18 million common shares of the company at a deemed price of 20 cents per share in settlement of a bona fide debt of $636,000 owed by the company to Arthur Halleran, its chief executive officer, for $546,000, and two directors of the company for the balance, namely David Thompson and Sean Stofer. The shares are subject to a statutory hold period expiring four months and one day after closing of the debt settlement.
The debt settlement with 2476393 Alberta Ltd., a company wholly owned by Mr. Halleran, chief executive officer and a director of the company, David Thompson and Sean Stofer, directors of the company, is considered a related-party transaction within the meaning of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of the related-party participation in the debt settlement, based on that the fair market value of such insider participation does not exceed 25 per cent of the company's market capitalization.