Company: TPET
Filing Date: 2025-02-05
Form Type: S-1/A
Source: 0001493152-25-005014
Chunk: 156

Company: Trio Petroleum Corp.
Filing Date: 2025-02-05
Form: S-1/A
Chunk 156
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 Company entered into placement
agent agreement with the Placement Agent, for the Placement Agent to serve as the exclusive placement agent
in connection with the closing of the private placement of convertible notes issued pursuant to a securities purchase agreement
entered into with an investor on October 4, 2023 (the “October 2023 SPA”). The applicable agreements provide the Placement
Agent with i) a cash fee 7.5% of the aggregate proceeds raised in the sale and ii) warrants to purchase a number of common
shares equal to 5% of the number of common shares initially issuable upon conversion of each convertible note issued to the investor
under the October 2023 SPA. Warrants to purchase 83,333 and 55,000 common shares with exercise prices of $1.32
and $0.55, representing the first and second tranche notes issued to investors under the October 2023 SPA, respectively, were
issued to the Placement Agent as of January 31, 2024. Such warrants may be exercised beginning 6 months after issuance until
four- and one-half years thereafter.

In January 2024, in connection with the second closing
of the October 2023 SPA, the Company paid the Placement Agent a cash fee equal to 7.5% of the gross proceeds from the sale of
the securities sold at the second closing, and issued to the Placement Agent warrants to purchase up to 5% of the number of shares
of common stock initially issuable upon the conversion of the second tranche note under the October 2023 SPA, equaling 55,000
shares of common stock, at an exercise price of $0.55 per share, exercisable beginning six months after issuance until four and
one-half years thereafter.

In June 2024, the Placement Agent served
as placement agent in connection with June 2024 Financing. At the closing of the June 2024 Financing, the Company paid Spartan
a cash fee of 7.5% of the gross proceeds from the sale of the securities in the June 2024 Financing to one of the June 2024
Investors, in an amount equal to $27,000, and a non-accountable expense allowance of $1,800.

In August 2024, the Placement Agent served as a placement agent in connection with the August 1 stDebt Financing. At the closing of the August 1 stDebt Financing, the Company paid the Placement Agent a cash fee