Over the course of the past week, the Trillion Energy International (OTCMKTS:TCFF) stock has emerged as one of the more notable gainers and managed to record gains of as much as 8% during the period. Yesterday, the company was in the news once again and it might be a good idea for investors to take a closer look at it.
Market Action
On Monday, TCFF stock fell 1% at $0.1563 with more than 324k shares, compared to its average volume of 304k shares. The stock has moved within a range of $0.1520 – 0.1618 after opening the trade at $0.1575.
Announces Upcoming Shareholder Vote To Move Company To Canada
On Monday, the company announced that it was going to have a special shareholders’ meeting next month on December 17. At that particular meeting, the shareholders are going to be voting on the merger that it had announced previously and the possibility of redomiciling into a British Columbia Corporation from a Delaware one.
Trillion Energy noted that the move to redomicile was aimed at making the corporate structure more aligned with its future and current business operations. It is also related to the company’s plan to finance the development of the SASB Oil Field.
The oil field in question is located not too far away from the shores of Turkey. Arthur Halleran, who is the Chief Executive Officer of the company, stated that the redomiciling move is going to help the company in raising the necessary funds.
Traders Note TCFF stock is trading below the 200-Day and 50-Day Moving averages of $0.17 and $0.19 respectively. Moreover, the stock is trading below the 20-Day moving average of $0.22. The stock is down 29% over the past month.
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