Company: TPET
Filing Date: 2025-02-28
Form Type: S-1/A
Source: 0001493152-25-008715
Chunk: 66

Company: Trio Petroleum Corp.
Filing Date: 2025-02-28
Form: S-1/A
Chunk 66
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569 in conversion shares and (iii) the August 1st Note in the amount of $106,400 in cash, (c) a payment of                      
 $143,516 (which includes interest) towards a related party note, (d) a payment of $59,331 towards a related party payable, (e) the   
 exchange of the August 6th Note for 230,992 shares of common stock and (f) the issuance of 231,046 shares of common                  
 stock that had been awarded in previous periods; and                                                                                 |
| ● | on a pro forma, as adjusted, basis to further                                                                                        
 reflect (i) the issuance and sale of 5,882,353 Shares in this offering at an assumed public offering price of $1.36                  
 per share, which was the reported closing price of our common stock on the NYSE American on February 24, 2025, resulting in          
 net proceeds to the Company of approximately $6,902,500 after deducting placement agent fees and estimated offering expenses payable 
 by us, (ii) the repayment of related party loans in the amount of $56,335, and (v) the repayment of the August 1st Investor          
 Note in the amount of $63,840, all upon the consummation of this offering.                                                           |

Unless otherwise specifically provided, all share and per share information reflect the Reverse Stock Split of our common stock, at a ratio of one share of common stock for every 20 shares of common stock outstanding, which was effective on November 14, 2024. Our common stock began trading on the NYSE American, on a post-reverse split basis, at the beginning of trading on November 15, 2024.

You should read this information
in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in this
prospectus and our condensed consolidated financial statements and related notes appearing in our Annual Report on Form 10-K
for the quarter ended October 31, 2024, and our Annual Report on Form 10-K, as amended by our Amendment to Annual Report on
Form 10-K/A, for the fiscal years ended October 31, 2024 and 2023, which are incorporated by reference in this prospectus.

|                                                                                                                              |     | As                  
 of October 31, 2024 
 (Audited)           |             |   |     |       |             |      |     | Pro         
 Forma as