Trio Petroleum raises $720K via convertible notes and warrants

Trio Petroleum Corp

Issued $800K principal Senior Secured Convertible Notes at 10% OID to two institutional investors for $720K net proceeds.
Warrants to purchase up to 1.49M shares of common stock at $0.39525 per share issued alongside Notes.
Notes mature June 27, 2025; convertible at $0.39525 per share with a floor price of $0.12; no interest unless default.
Company granted senior security interest in all assets; monthly installments start 90 days after issuance at 103% of principal.

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