Trio Petroleum Corp closes $1.2M convertible note financing

Trio Petroleum Corp

Issued three unsecured convertible notes with aggregate principal of $1.2M to institutional investors; net proceeds $928,600 after fees.
Notes mature February 15, 2026; conversion price lesser of $1.32 or 90% of 5-day VWAP, floor $0.72 (subject to reduction to $0.22).
Maximum shares issuable upon conversion capped at 1,679,127 (19.99% of outstanding).
Registration rights agreement requires filing within 20 trading days, effectiveness within 60 days; 1% monthly liquidated damages for delays.
Company cannot enter into variable rate transactions or certain equity-linked securities without majority consent until notes repaid/converted.

item 1.01item 2.03item 3.02item 9.01

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.