Malibu, CA, March 18, 2026 (GLOBE NEWSWIRE) -- Trio Petroleum Corp (NYSE American: "TPET", "Trio" or the "Company"), an oil and gas company, announced that as of March 18, 2026, the Company had raised $19,017,527 in gross proceeds under its ATM program, resulting in net cash proceeds to Trio of $18,446,993, after payment of commissions.

Commented Robin Ross, Chief Executive Officer, "This first quarter has been transformational for Trio as we successfully raised nearly $19 million through our ATM program. Management believes this capital provides a significant opportunity to accelerate our expansion plans in both Canada and the U.S., with a focus on acquiring larger, higher-impact oil and gas projects in the 500 to 1,000 barrels per day range, as well as advancing workover opportunities across our existing assets. While we expect oil prices to remain volatile, we continue to see an upward bias supported by global energy demand. Taken together, we believe that these factors place Trio on a strong trajectory for meaningful production and cash-flow growth."

ATM Offering

On January 9, 2026, the Company filed a prospectus supplement with the SEC covering the sale of shares of common stock having an aggregate offering price of up to $3,600,000 (the "Placement Shares"), in connection with the ATM Offering. Subsequent to the period ended January 31, 2026, we filed several amendments to the prospectus supplement related to the ATM Offering to increase the dollar amount of Placement Shares that may be offered pursuant to the ATM Offering. The Company has sold, to date, 19,202,455 shares of common stock for aggregate gross proceeds of $19,017,527.

About Trio Petroleum Corp

Trio Petroleum Corp is an oil and gas exploration and development company with operations in California, Saskatchewan, Alberta, and Utah. The Company is focused on acquiring and developing high-quality producing assets that offer near-term cash flow and long-term growth potential.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding anticipated timing of surface lease execution, commencement of production, expected production rates, perforation of additional zones, operational performance, and timing for integration of additional wells. These statements are based on management's current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially, including regulatory processes, surface access, operational execution, equipment performance, reservoir response, commodity prices, and other risks described in the Company's filings with the U.S. Securities and Exchange Commission. Trio undertakes no obligation to update forward-looking statements except as required by law.

Investor Relations Contact

Redwood Empire Financial Communications

Michael Bayes

(404) 809-4172

michael@redwoodefc.com

Trio Petroleum Corp Completes Transformational $19 Million Raise Under ATM Program