M&A - Trio Petroleum Corp.

Form Type: 8-K

Filing Date: 2025-04-10

Corporate Action: Acquisition

Type: New

Accession Number: 000164117225003622

Filing Summary: On April 4, 2025, Trio Petroleum Corp. entered into an Asset Purchase Agreement (APA) with Trio Petroleum Canada, Corp. and Novacor Exploration Ltd., to acquire certain assets related to oil and gas operations. The transaction includes a total purchase price of US$650,000, with US$260,000 paid at the first closing on April 8, 2025, along with the issuance of 526,536 shares of common stock. The second closing, concerning additional assets, is expected to occur on or after May 15, 2025. The company also initiated a Loan and Note Purchase Agreement, lending US$1,131,000 to its subsidiary to fund part of the acquisition. A press release announcing the agreement was issued on April 10, 2025. The assets being acquired are free from liens, and the seller will operate these assets post-closing under specified terms.

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