Malibu, California, May 11, 2026 (GLOBE NEWSWIRE) -- Trio Petroleum Corp ("Trio" or the "Company") today announced that it has strengthened its financial position through recent capital raises totaling approximately $24 million via its At-The-Market ("ATM") equity program. With a substantially improved balance sheet and capital available for deployment, Trio has entered what management believes is a transformational phase focused on growth through strategic acquisitions.
The Company through its Canadian subsidiary has assembled a multidisciplinary team of seasoned upstream oil and gas specialists, combining top-tier land, engineering, and operational expertise to fast track identifying, reviewing, and engaging potential oil and gas acquisition opportunities. The team has been participating in discussions on select projects and plans to move forward with transactions that management believes will result in substantial growth of the Company's operations.
Trio's acquisition strategy is currently centered on Canadian oil and gas assets, where management believes attractive valuation opportunities exist relative to comparable U.S. projects. These assets are expected to offer favorable entry pricing, established infrastructure, and significant operational and development upside.
CEO Commentary
"We believe the Company is now positioned at an inflection point," said Robin Ross, Chief Executive Officer of Trio. "Over the past year, our priority was stabilizing the Company and rebuilding financial strength. Having successfully raised approximately $24 million and strengthened our balance sheet, we are now focused on execution - identifying acquisitions capable of materially expanding our production base and long-term cash flow."
"Our team is actively advancing multiple opportunities, particularly in Canada, where we see the ability to acquire quality assets at valuations that we believe are highly compelling. This creates an opportunity to grow Trio significantly faster than would otherwise be possible through organic development alone."
Annual Stockholder Meeting - May 21, 2026
Stockholders are reminded that Trio's Annual Meeting of Stockholders will be held on May 21, 2026. Management strongly encourages all stockholders to vote FOR all of the items on the Meeting Agenda.
"We are asking stockholders to support management at this important moment," the CEO continued. "Trio has transitioned from survival to opportunity. With capital now in place and acquisition initiatives underway, we believe the decisions made at this annual meeting will help position the Company for meaningful long-term value creation."
Strategic Growth Outlook
Trio intends to pursue acquisitions that:
- Deliver near-term production and cash flow,
- Expand reserves and development inventory,
- Benefit from existing infrastructure and strong operating economics, and
- Support scalable growth across North America.
The Company expects to provide further updates as acquisition discussions progress and material developments occur.
About Trio Petroleum Corp
Trio Petroleum Corp is a publicly traded oil and gas company focused on the acquisition, development, and optimization of energy assets across North America. The Company's strategy is centered on disciplined capital allocation, opportunistic acquisitions, and operational execution designed to maximize long-term stockholder value.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of applicable securities laws, including statements regarding capital deployment, acquisition opportunities, stockholder proposals, exchange compliance, and anticipated growth. These statements involve risks and uncertainties, including completion of acquisitions, results of due diligence, commodity price volatility, regulatory approvals, market conditions, and other factors that may cause actual results to differ materially from those anticipated. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof.
Investor Relations Contact:
Redwood Empire Financial Communications
Michael Bayes 404 809-4172
michael@redwoodefc.com
