Company: TPET
Filing Date: 2025-09-04
Form Type: S-3
Source: 0001493152-25-012641
Chunk: 15

Company: Trio Petroleum Corp.
Filing Date: 2025-09-04
Form: S-3
Chunk 15
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 payable to Novacor, in connection with the Novacor Acquisition, and the remainder of the Loan Amount is to be used for ongoing operating costs of Trio Canada.

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Convertible Notes Financings

April 2025 Convertible Note Financing

On April 11, 2025, we issued an Unsecured Original Discount Convertible Promissory Note (the “April 2025 Note”) to an institutional investor (the “April 2025 Note Investor”) in a principal amount of $321,176, having an original issue discount of $48,176, resulting in a funding amount of $273,000. After the payment of a commission of $15,015 to Spartan Capital Securities, LLC and the payment of $10,000 to reimburse the April Note Investor for its legal fees, we received net proceeds of $247,985.

On April 17, 2025, we issued an amended and restated Unsecured Original Discount Convertible Promissory Note to the April 2025 Convertible Note Investor (the “April 2025 Amended and Restated Note”), in an aggregate principal amount, with the principal amount of the April 2025 Note, of $712,941, having an aggregate original issue discount of $106,941, including the original issue discount of the April 2025 Note, and resulting in an aggregate funding amount, with the April 2025 Note, of $606,000. We received additional net proceeds of $333,000.

The April 2025 Amended and Restated Note also contained “piggyback” registration rights and the shares issuable upon conversion of the April 2025 Amended and Restated Note were registered for resale in a registration statement declared effective by the SEC on May 22, 2025. As of the date of this prospectus the April 2025 Amended and Restated Note has been fully converted by the April 2025 Note Investor into shares of common stock.

August 2025 Convertible Note Financing

On August 15, 2025, we closed a private placement pursuant to which we issued the August 2025 Notes to three institutional investors (the “August 2025 Note Investors”) in an aggregate principal amount of $1,200,000 (the “August 2025 Notes Principal Amount”), having an aggregate original issue discount of $180,000, or 15%, resulting in an aggregate funding amount of $1,020,000 (the “August 202