TOL Trioil Resources Ltd

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


TriOil Resources Ltd. ("TriOil" or the "Company") (TSX VENTURE:TOL) is pleased
to announce that it has closed its previously announced offering ("Offering") of
7,845,000 class A shares ("Common Shares") at a price of $2.55 per Common Share
and 2,917,288 Common Shares to be issued on a "flow-through" basis (the
"Flow-Through Shares") at a price of $3.00 per Flow-Through Share through a
syndicate of underwriters co-led by Canaccord Genuity Corp. and GMP Securities
L.P. and including Dundee Securities Ltd., TD Securities Inc., AltaCorp Capital
Inc., Haywood Securities Inc., Cormark Securities Inc., Raymond James Ltd., and
Desjardins Securities Inc. for gross aggregate proceeds of $28,756,614.


TriOil will use the net proceeds from the Offering to expand and accelerate its
capital program focused on the Company's Cardium light oil drilling program at
Lochend and the emerging Dunvegan light oil resource play at Kaybob, as well as
for general corporate purposes.


TriOil is a Calgary, Alberta based company engaged in the exploration,
development and production of petroleum and natural gas. TriOil has
approximately 64.0 million common shares issued and outstanding (70.1 million
fully diluted). The common shares of TriOil trade on the TSX Venture Exchange
under the symbol TOL.


The securities offered have not been and will not be registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold in the United
States absent registration or applicable exemption from the registration
requirements. This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities in
any jurisdiction in which such offer, solicitation or sale would be unlawful. 


Forward-Looking Statements

Certain information in this news release is forward-looking within the meaning
of certain securities laws, and is subject to important risks, uncertainties and
assumptions. More particularly, this press release contains statements
concerning TriOil's intended use of proceeds from the Offering. This forward
looking information includes, among other things, information with respect to
the Company's beliefs, plans, expectations, anticipations, estimates and
intentions and the activities of the Company after the Offering. The words
"intend", "expect", "will" and similar words and expressions are used to
identify forward-looking information. The forward-looking information in this
news release describes the Company's expectations as of the date of this news
release. 


The results or events anticipated or predicted in such forward-looking
information may differ materially from actual results or events. Material
factors which could cause actual results or events to differ materially from
such forward-looking information include, among others, risks arising from
general economic conditions and adverse industry events, risks arising from
operations generally, reliance on contractual rights such as licenses and leases
in the conduct of its business, reliance on third parties, reliance on key
personnel, possible failure of the business model or business plan or the
inability to implement the business model or business plan as planned,
competition, environmental matters, and insurance or lack thereof. 


The Company cautions that the foregoing list of material factors is not
exhaustive. When relying on the Company's forward-looking information to make
decisions, investors and others should carefully consider the foregoing factors
and other uncertainties and potential events. The Company has assumed a certain
progression, which may not be realized. It has also assumed that the material
factors referred to in the previous paragraph will not cause such
forward-looking information to differ materially from actual results or events.
However, the list of these factors is not exhaustive and is subject to change
and there can be no assurance that such assumptions will reflect the actual
outcome of such items or factors. 


The forward-looking statements contained in this press release are made as of
the date hereof and TriOil undertakes no obligation to update publicly or revise
any forward-looking statements or information, whether as a result of new
information, future events or otherwise, unless so required by applicable
securities laws.

Trioil Resources Ltd (TSXV:TOL)
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De May 2024 a Jun 2024

Trioil Resources Ltd (TSXV:TOL)
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De Jun 2023 a Jun 2024