Monday, July 22, 2024

International Petroleum Corporation Declares Outcomes of Regular Course Issuer Bid

International Petroleum Corporation Announces Repurchase of Common Shares Under NCIB Program

International Petroleum Corporation (IPC) has recently announced its repurchase of a total of 243,850 common shares under its normal course issuer bid/share repurchase program. The transactions took place from June 17 to 21, 2024, showcasing the Corporation’s commitment to its shareholders.

IPC’s repurchase program, which was initiated back on December 1, 2023, is being conducted in compliance with the Market Abuse Regulation (EU) No 596/2014 and the Safe Harbour Regulation, along with the rules of the Toronto Stock Exchange (TSX) and Nasdaq Stockholm, as well as Canadian and Swedish securities laws.

During this period, IPC repurchased 160,000 common shares on Nasdaq Stockholm, with all transactions carried out by Pareto Securities AB on behalf of IPC. Additionally, 83,850 common shares were purchased on the TSX by ATB Capital Markets Inc. All repurchased shares will be cancelled, with IPC holding 995,850 common shares in treasury as of June 21, 2024.

Since the commencement of the program in December 2023 up to June 21, 2024, a total of 4,843,655 common shares have been repurchased by IPC. The Corporation may repurchase a maximum of 8,342,119 common shares over the twelve-month period ending December 4, 2024, or until the completion or termination of the NCIB.

IPC, an international oil and gas exploration and production company with assets in Canada, Malaysia, and France, remains dedicated to providing value to its shareholders through strategic initiatives like the share repurchase program. With a solid foundation for growth, IPC continues to position itself for success within the industry.

For more information on the transactions and IPC’s overall performance, interested parties can visit the company’s website or Nasdaq Stockholm’s website. The Corporation’s commitment to transparency and shareholder value is evident in its proactive approach to these repurchase activities.

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