Company: TPET
Filing Date: 2025-10-27
Form Type: 8-K
Source: 0001493152-25-019735
Chunk: 0

Company: Trio Petroleum Corp.
Filing Date: 2025-10-27
Form: 8-K
Item: Item 1.01
Chunk 0
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Item 1.01

Entry into a Material Definitive Agreement.

Item
1.01. Entry Into a Material Definitive Agreement.

Asset
Purchase Transaction with Capital Land Services Ltd.

Effective
as of August 20, 2025, Trio Petroleum Corp, a Delaware corporation (the “ Company”) entered into an Asset Purchase Agreement
(the “ APA”) with Trio Petroleum Canada, Corp., an Alberta, Canada corporation and a wholly owned subsidiary of the Company
(the “ Buyer” or “ Trio Canada”), and Capital Land Services Ltd., a corporation incorporated under the Province
of Alberta (the “ Seller”), pursuant to which, subject to the terms and conditions set forth in the APA, the Buyer agreed
to acquire certain assets and the assignment of certain leases and rights of Seller relating to Seller’s oil and gas business,
including contracts, permits mineral leases and registrations for working interests in petroleum and natural gas and mineral rights located
in the County of Vermilion of River (formerly known as the Municipal District of Wellington No. 481) (collectively, the “ Assets”),
free and clear of any liens other than certain Permitted Encumbrances (as such term is defined in the APA) for a total purchase price
of (i) CD$150,000 in cash and (ii) the issuance to the Seller of restricted shares (the “ Shares”) of common stock, par value
US$0.0001 per share (the “ Common Stock”), of the Company, having an aggregate value of CD$150,000 (the “ Purchase Price”).

The
APA provides for the Transaction to be closed on the later of (i) September 5, 2025 or (ii) three (3) business days following the date
that the Buyer has provided written notice to Seller that the Revitalize/PWC Transaction (as such term is defined in the APA) has closed
(the “ Closing”). For context, the Assets are comprised solely of mineral leasehold interests, while the wellbores and surface
rights relating to the Assets, including the associated regulatory permits, are in the name of Revitalize Energy Inc. by and through
PRICEWATERHOUSECOOPERS INC., LIT, who has been appointed as the receiver and manager of the assets, property and undertaking of Revitalize
Energy Inc. The closing of the Revitalize/PWC Transaction is subject to successfully obtaining a Sale Approval and Vesting Order from
the Court of King’s Bench of Alberta (the “ SAV