Company: TPET
Filing Date: 2025-02-28
Form Type: S-1/A
Source: 0001493152-25-008715
Chunk: 35

Company: Trio Petroleum Corp.
Filing Date: 2025-02-28
Form: S-1/A
Chunk 35
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 “Risk Factors” and                     
 other information included in this prospectus for a discussion of factors you should carefully consider before deciding to invest        
 in our securities.                                                                                                                       |
| Reasonable Best-Efforts 
 Offering                |     | We have agreed to offer and sell                                                                                                         
 the securities offered hereby to the purchasers through the Placement Agent. The Placement Agent is not required to buy or sell any      
 specific number or dollar amount of the securities offered hereby, but it will use its reasonable best efforts to solicit offers         
 to purchase the securities offered by this prospectus. See “Plan of Distribution” on page 91 of this prospectus.                         |

The number of shares of common stock outstanding prior to this offering and to be outstanding after this offering is based on 6,956,694 shares of common stock outstanding as of February 24, 2025 and excludes:

| ● | up                                                                                          
 to 171,994 shares of common stock issuable upon the exercise of outstanding warrants        
 at a weighted exercise price of $13.25 per share.                                           |
| ● | up                                                                                          
 to 6,000 shares of issuable upon the exercise of outstanding options awarded under our 2022 
 Equity Incentive Plan at a weighted exercise price of $10.46 per share.                     |
| ● | up                                                                                          
 to 178,125 shares of common stock issuable upon the vesting of restricted stock units.      |
| ● | the                                                                                         
 issuance of 50,000 shares of restricted stock granted as awards under our 2022 Equity       
 Incentive Plan that have not yet been issued; and                                           |
| ● | 112,750                                                                                     
 shares                                                                                      
 of common stock available for future grants of awards under our 2022 Equity Incentive Plan. |

| 18 |

<div align='center'>SUMMARY FINANCIAL DATA</div>

The following tables set forth a summary of our historical financial data as of, and for the periods ended on, the dates indicated. We have derived the statements of operations data for the years ended October 31, 2024 and 2023 and our balance sheet data at October 31, 2024 and 2023 from our audited financial statements included elsewhere in this prospectus. In the opinion of the management, the audited data reflects all adjustments, consisting of normal and recurring adjustments, necessary for a fair presentation of results as of and for these periods.

Unless
otherwise specifically provided, all share and per share information reflect the Reverse