Company: TPET
Filing Date: 2025-02-05
Form Type: S-1/A
Source: 0001493152-25-005014
Chunk: 62

Company: Trio Petroleum Corp.
Filing Date: 2025-02-05
Form: S-1/A
Chunk 62
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, of (a) an ATM agreement, resulting in net proceeds of $3,475,650 to the Company, from       
 the issuance of shares of common stock, after October 31, 2024, (b) payments, after October 31, 2024, toward (i)             
 the March 2024 Note in the aggregate amount of $88,830, (ii) the June 2024 Notes in the aggregate amounts of $350,847        
 in cash and $299,569 in conversion shares and (iii) the August 1st Note in the amount of $85,120 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 241,266 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 5,063,291 Shares in this offering at an 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, 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 $85,120, 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