Company: TPET
Filing Date: 2025-10-27
Form Type: 8-K
Source: 0001493152-25-019735
Chunk: 1

Company: Trio Petroleum Corp.
Filing Date: 2025-10-27
Form: 8-K
Item: Item 1.01
Chunk 1
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O”). The closing of the Revitalize/PWC Transaction is to occur following
fulfillment of certain conditions, including obtaining the SAVO, with the APA Closing to occur subsequent to the Revitalize/PWC Transaction
closing.

The
APA further provides that during the period from the date of execution of the APA, until the Closing, the Seller is required to use its
commercially reasonable efforts to have the Potentially Adverse Instruments (as such term in defined in the APA) discharged, lapsed or
otherwise extinguished from the applicable Certificate of Title. In the event that all of the Potentially Adverse Instruments are not
discharged, lapsed or otherwise extinguished prior to the Closing, and the Buyer waives such condition and still consummates the Closing,
the Seller has agreed, after the Closing, to continue to take such actions as reasonably requested by the Buyer to assist in the discharge,
lapse or otherwise extinguishing the remaining Potentially Adverse Instruments. Seller has also agreed to take certain actions with respect
to the surrender, release or discharge of certain other items, as provided in the APA.

Seller
has agreed to pay all income, capital gains, use transfer, stamp, registration, documentary, excise, real property transfer or gains
or similar taxes. Buyer has agreed to pay all sales and value added or similar taxes.

The
obligations of the parties to close are conditioned on satisfaction of applicable governmental regulations and receipt of all applicable
governmental approvals.

The
APA contains customary representations, warranties, covenants and indemnifications by the parties for a transaction involving the acquisition
of assets in oil and gas business. The APA contains certain termination rights for the Company, the Buyer and Seller, and also provides
tor rights of specific performance under certain circumstances.

The
foregoing summary of the APA is not complete and is qualified in its entirety by reference to the full text of the APA, a copy of which
is attached hereto as Exhibit 10.1 and is incorporated herein by reference. The representations, warranties and covenants set forth in
the APA have been made only for purposes of the APA and solely for the benefit of the parties thereto, and may be subject to limitations
agreed upon by the contracting parties, including being qualified by confidential disclosures made for the purposes of allocating contractual
risk between the parties to the APA instead of establishing these matters as facts. In addition, information regarding the subject matter
of the representations and warranties made in the APA may change