Trio Petroleum retires remaining outstanding convertible notes

Trio Petroleum (TPET) announced that as of January 7,2025, the Company had fully repaid senior secured convertible promissory notes with an aggregate principal of $1.6M. The Notes were issued in connection with two separate financings funded by two institutional investors in in April 2024 and June of 2024. As previously reported in Current Reports on Form 8-K filed with the Securities and Exchange Commission on April 24, 2024 and June 28, 2024, these financings, provided by the Investors, included the issuance of the Notes and, with respect to the June 2024 financing, the issuance of warrants to the Investors. The Notes have been fully retired, and the security interest granted to the Investors in all of Trio’s assets has also been terminated. The warrants continue to be outstanding.