Item 1.01 Entry into a Material Definitive Agreement
On November 6, 2009, pursuant to a Securities Purchase Agreement, and Redeemable
Debenture, which are attached to this Current Report on Form 8-K as Exhibit 10.1
and Exhibit 10.2 Trilliant Exploration Corporation ("Registrant") secured a
$210,000 loan (the "Loan") with a major stockholder, Trafalgar Capital
Specialized Investment Fund ("Trafalgar").
Item 3.02 Unregistered Sales of Equity Securities
As stated in Item 1.01, on November 6, 2009, the Registrant secured a $210,000
Loan from Trafalgar. Pursuant to the terms of the Loan, Registrant issued to
Trafalgar a Debenture with a face value of $210,000. The Holder of the Debenture
is entitled, at its option, to convert, and sell all or any part of the
principal amount of the Debenture, plus accrued interest, into shares of
Registrant's Common Stock at a price per share equal to the lower of (a) 100% of
the Volume Weighted Average Price of the Common Stock as reported by Bloomberg,
LP on the Closing Date and (b) a fifteen percent (15%) discount to the lowest
daily closing VWAP of the Common Stock during the five (5) trading days after
the Conversion Date.
Item 9.01 Financial Statements and Exhibits
10.1 Securities Purchase Agreement
10.2 Redeemable Debenture
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