Company: TPET
Filing Date: 2025-02-05
Form Type: S-1/A
Source: 0001493152-25-005014
Chunk: 61

Company: Trio Petroleum Corp.
Filing Date: 2025-02-05
Form: S-1/A
Chunk 61
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 we currently anticipate that we will use the net proceeds from this offering as described above, there may be circumstances where a reallocation of funds is necessary. The amounts and timing of our actual expenditures will depend upon numerous factors, including permits, and the accessibility of rigs and other equipment, our operating costs and the other factors described under “ Risk Factors” in this prospectus. Accordingly, our management will have flexibility in applying the net proceeds from this offering. An investor will not have the opportunity to evaluate the economic, financial or other information on which we base our decisions on how to use the proceeds.

Pending these uses, we intend to invest the funds in short-term, investment grade, interest-bearing securities. It is possible that, pending their use, we may invest the net proceeds in a way that does not yield a favorable, or any, return for us.

Each $0.01 increase (decrease) in the assumed public offering price of $1.58 per share, which was the reported closing price of our common stock on the NYSE American, on January 24, 2025, would increase (decrease) the net proceeds to us from this offering, after deducting placement agent fees and estimated offering expenses payable by us, by approximately $0.1 million, assuming that the number of Shares and/or Pre-Funded Warrants offered by us, as set forth on the cover page of this prospectus, remains the same. Similarly, each increase (decrease) of 1,000,000 Shares and/or Pre-Funded Warrants offered by us at the assumed public offering price of $1.58 per share, which was the reported closing price of our common stock on the NYSE American, on January 24, 2025, would increase (decrease) the net proceeds to us from this offering, after deducting placement agent fees and estimated offering expenses payable by us, by approximately $1.5 million, assuming that the assumed public offering price of $1.58 per share, which was the reported closing price of our common stock on the NYSE American, on January 24, 2025, stays the same.

| 37 |

<div align='center'>CAPITALIZATION</div>

The following table sets forth our cash and capitalization
as of October 31, 2024, as follows:

| ● | on an actual basis;                                                                                                          |
| ● | on a pro forma basis to give effect to the                                                                                   
 receipt, after October 31, 2024