08:47 AM EDT, 04/28/2025 (MT Newswires) -- Trillion Energy International ( TRLEF ) , which jumped 66% on Friday, bouncing back from near a 52-week low, over the weekend said it will issue common shares to cover the convertible debenture interest payment of its 12% convertible debentures due on April 30.

Holders of at least 67% of the principal amount of the convertible debentures signed an extraordinary resolution dated April 23 consenting to receive more than 27.2 million common shares at $0.033 per share instead of cash in satisfaction of an aggregate total of $899,940 in accrued interest. The debentureholders also gave approval for the company and Odyssey Trust Company to enter into a second supplemental debenture indenture to change the maturity date of the convertible debentures from April 30 to July 31.

The company said that the holders also agreed that the convertible debentures will keep accruing interest from May 1 to July 31 at a rate of 12% per annum payable in cash and that they will be paid an extension fee in the aggregate amount of $85,000 payable in common shares of the company at a price of $0.033 per share.

Additionally, the company also said that it plans to issue around 1.7 million of its common shares at $0.033 per share in settlement of $57,255 in debt owed by the company to consultants of the company.