Company: TPET
Filing Date: 2025-02-28
Form Type: S-1/A
Source: 0001493152-25-008715
Chunk: 165

Company: Trio Petroleum Corp.
Filing Date: 2025-02-28
Form: S-1/A
Chunk 165
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 August 6 thDebt Financing, in an amount equal to $15,750.

In September 2024, the Company entered into a Sales Agreement with the Representative for sales of stock under an at-the-market program, which was fully utilized as of December 31, 2024. The Company paid the Placement Agent a cash fee of 3.0% of the gross proceeds from the sale of common stock under the program for total fees of $143,793. The Company sold a total of 3,312,875 shares were sold by the Company for which it received net proceeds of $4,649,330.

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<div align='center'>MATERIAL U.S. FEDERAL INCOME TAX CONSIDERATIONS</div>

This section summarizes certain material U.S. federal income tax considerations that may be associated with the purchase, ownership, and disposition of our common shares and the Pre-Funded Warrants (which we refer to collectively as our securities) and the exercise or lapse of such Pre-Funded Warrants by U.S. holders (as defined below) and non-U.S. holders (as defined below). This summary is not intended to be a complete summary of the U.S. federal income tax consequences to purchasers of our securities, and does not discuss any state, local or other tax consequences, of an investment in our company. Moreover, this summary deals only with securities that are held as capital assets by holders who acquire our securities in this offering or by exercising a Pre-Funded Warrant that was acquired in this offering. The discussion does not discuss all of the U.S. federal income tax consequences that may be relevant to a potential investor in our company in light of such investor’s particular circumstances or to investors subject to special rules, such as brokers and dealers in securities, certain financial institutions, regulated investment companies, real estate investment trusts, tax-exempt organizations, insurance companies, persons holding our securities as part of a hedging, integrated, or conversion transaction or a straddle, or as part of any other risk reduction transaction, traders in securities that elect to use a mark-to-market method of accounting for their holdings, partnerships or other entities treated as partnerships for U.S. federal income tax purposes, persons who hold directly or constructively at least 5% of our shares, or persons liable for the alternative minimum tax or the net investment income tax. This summary does not address any tax law other than the U.S. federal income tax law, including any estate tax law or any foreign,