09:53 AM EST, 01/03/2025 (MT Newswires) -- Trillion Energy International ( TRLEF ) on Friday said that the board accepted Arthur Halleran's resignation and retirement as the chief executive and director of the company, effective Dec. 27, 2024.

Shares of the company were last seen down $0.01 or 13%, at $0.065, near 52-week lows at $0.055, in early morning trade on the Canadian Securities Exchange.

Trillion Energy ( TRLEF ) appointed Sean Stofer P.E. as the company's interim chief executive and chairman of the board, while the company completes its executive search for a permanent CEO. Trillion added that the new CEO will focus on "exploiting existing assets and strategically enter new plays to increase overall value to all shareholders."

Scott Lower and Burak Tolga Terzi were appointed as the company's president and vice president, respectively. The company plans to create an advisory board consisting of industry veterans and seeks to add two more directors as part of its overall transitional plan in the first quarter of 2025.

Price: 0.07, Change: -0.01, Percent Change: -13.33