Trio Petroleum settles $392,700 legal fee debt by issuing 446,149 common shares to law firm

Trio Petroleum Corp

Company issued 446,149 restricted shares to McDermott Will & Schulte LLP to settle $392,700.23 in unpaid legal fees.
Shares priced at lower of $1.00 or 10% discount to 5-day VWAP; issued under Section 4(a)(2) exemption.
Company must file a resale registration statement within 20 days and use best efforts to get it effective within 45 days.
Mutual release of all claims effective upon filing of the registration statement; no admission of liability by Trio.
Settlement resolves all past due fee obligations and related legal disputes between the parties.

Key facts

Extracted from this filing and checked against the source text.

Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.9

Trio Petroleum Corp issued 446,149 restricted shares of common stock to McDermott Will & Schulte LLP for settlement of $392,700.23 in fees.

Security: common stock
Shares: 446,149 restricted shares
Purchaser: McDermott Will & Schulte LLP
Consideration: settlement of $392,700.23 in fees

Exact text from the filing

and conditions set forth in the Settlement Agreement, the Company agreed to resolve, settle, and compromise among other things the Company’s obligation to pay an aggregate of $392,700.23 in fees for legal services previously performed by McDermott for the Company (the “Fees”). In consideration of the Fees, the Company agreed to issue to McDermott 446,149

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Trio Petroleum Corp entered into Settlement Agreement and Release with McDermott Will & Schulte LLP valued at $392,700.23 (effective 2026-03-24).

Action: entry
Agreement: settlement
Counterparty: McDermott Will & Schulte LLP
Value: $392,700.23
Effective: 2026-03-24

Exact text from the filing

On March 24, 2026, Trio Petroleum Corp, a Delaware corporation (the “Company”) entered into a Settlement Agreement and Release (the “Settlement Agreement”) with McDermott Will & Schulte LLP (“McDermott”)

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Trio Petroleum Corp filing history →

Source: SEC EDGAR

accession 0001493152-26-013097

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