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TORONTO, March 11, 2024 (GLOBE NEWSWIRE) — International Petroleum Corporation (IPC or the Company) (TSX, Nasdaq Stockholm: IPCO) is pleased to announce that IPC has repurchased a total of 147,200 non-unusual CPI percentages (ISIN: CAfour6016U108four) for the year period March 4-8, 202four under the IPC’s Issuer Percentage Offering (NCIB) program.
The IPC NCIB, announced on December 1, 2023, is implemented in accordance with Market Abuse Regulation (EU) No. 596/2014 (MAR) and Commission Delegated Regulation (EU) 2016/1052 (Safe Harbour Regulation) and the rules and policies of the Toronto Stock Exchange (TSX) and Nasdaq Stockholm and the securities laws of Canada and Sweden.
During the period from March 4 to March 8, 2024, IPC repurchased a total of 105,000 shares of IPC common stock from Nasdaq Stockholm. All of those percentage buybacks were made through Pareto Securities AB on behalf of IPC.
For more data on NCIB transactions in Sweden, adding up the aggregate volume, the weighted average value consistent with the consistent percentage, and the overall trading cost for each trading day during the period from March 4 to March 8, 2024, please refer to the following link to the Nasdaq Stockholm website. :
www. nasdaqomx. com/transactions/markets/nordic/corporate-actions/stockholm/repurchases-of-own-shares
A detailed breakdown of transactions conducted at Nasdaq Stockholm from 4 to 8 March 2024 pursuant to Article 5. 3 of the MAR and Article 2. 3 of the Safe Harbour Regulations can be obtained in this press release on the IPC website: www. international-petroleum. com/investors/#press.
During the same period, IPC bought a total of 42,200 non-unusual CPI percentages on the TSX. All of those percentage buybacks were made through ATB Capital Markets Inc. on behalf of IPC.
All non-unusual shares purchased through IPC under the NCIB will be cancelled. As of March 8, 2024, following the cancellation of 15,800 IPC non-unusual shares, the total number of non-unusual IPC shares issued and notable is 125,883,160 voting shares, of which IPC owns. 219,900 treasury common stocks.
From December 5, 2023 to March 8, 2024, a total of 2,561,560 IPC common shares were purchased under the NCIB through the services of Stockholm’s TSX and Nasdaq. A maximum of 8,342,119 shares of IPC common stock would possibly be purchased. acquired the twelve-month era beginning December 5, 2023, and ending December 4, 2024, or until the earlier date on which NCIB ends or ends through IPC.
International Petroleum Corp. (IPC) is a foreign oil and fuel exploration and production company with a portfolio of high-quality assets in Canada, Malaysia and France, providing a solid foundation for biological and inbiological growth. IPC is a member Lundin. de the organization of companies. IPC is incorporated in Canada and IPC shares are indexed on the Toronto Stock Exchange (TSX) and the Nasdaq Stockholm Stock Exchange under the symbol “IPCO”.
For information, contact:
Rebecca GordonVice President of Corporate Planning & Relations with inversoresrebecca. gordon@international-petroleum. comTel: 22 595 10 50
O
Robert ErikssonDirector of mediosreriksson@rive6. chTel: 701 11 26 15
The data is submitted for publication, via the contact persons indexed above, at 11:00 CET on 11 March 2024.
This press release comprises statements and data that constitute “forward-looking statements” or “forward-looking data” (within the meaning of applicable securities legislation). These statements and data (collectively, “forward-looking statements”) relate to events, aggregating the Company’s long-term performance, customers or business opportunities. Actual effects could possibly differ materially from those expressed or implied by the forward-looking statements. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. . Forward-looking statements speak only as of the date of this press release, unless otherwise indicated. IPC does not intend or undertake any obligation to update such forward-looking statements, unless required to do so by applicable law.
Anything that is not an old fact is possibly prospective. Anyone who expresses or reaches into discussions related to predictions, expectations, beliefs, plans, projections, forecasts, guidance, budgets, objectives, assumptions, or long-term occasions or events. functionality (often, but not always, using words or words such as “seek”, “anticipate”, “plan”, “continue”, “estimate”, “expect”, “possibly”, “will”, “will”, “project”, “forecast”, “prediction”, “potential”, “objective”, “intend”, “could”, “could”, “should”, “believe”, “budget” and similar expressions) are not old facts and would possibly be “prospects”. Forward-looking announcements include, but are not limited to: IPC’s ability and willingness to pursue the NCIB, adding the number of non-unusual shares to be acquired. and cancelled and the timing of such purchases and cancellations; and the return of value to IPC shareholders due to any common stock buybacks.
Forward-looking statements are based on certain key expectations and assumptions made through the CPI, aggregating expectations and assumptions regarding: prevailing commodity rates and exchange rates; royalty rates and applicable tax laws; interest rate; long-term production rates of wells and volumes of reserves and contingent resources; operating charges; the timing of receipt of regulatory approvals; the functionality of existing wells; the good luck gained from drilling new wells; the timing and expected effects of capital expenditures; the adequacy of budgeted capital expenditures to carry out the planned activities; the timing, location, and scope of long-term drilling operations; good acquisitions and successful disposals; the benefits of procurement; the state of the economy and exploration and production activities in the jurisdictions in which IPC operates and globally; the availability and burden of funding, hard work, and services; and the ability to successfully market crude oil, natural fuels, and natural fuel liquids.
Although IPC believes that the expectations and assumptions on which such forward-looking statements are based are reasonable, undue reliance should not be placed on forward-looking statements because IPC can give no assurance that they will prove to be correct. Because forward-looking statements relate to long-term events and conditions, by their very nature they involve inherent dangers and uncertainties. Actual effects may differ substantially from those currently expected due to a number of issues and risks. These include, but are not limited to: hazards related to the oil and fuels industry generally, such as operational hazards in progress, exploration and production; delays or adjustments in plans for exploration or progression projects or capital expenditures; the uncertainty of estimates and projections relating to reserves, resources, production, revenues, prices and expenses; health, safety and environmental hazards; fluctuations in raw material prices; fluctuations in interest rates and exchange rates; marketing and transportation; loss of markets; environmental hazards; competence; evaluation of procurement prices; failure to achieve or achieve expected benefits from acquisitions or divestitures; the ability to access sufficient capital from internal and external sources; failure to discharge required regulatory and other approvals; and adjustments to legislation, including, but not limited to, tax laws, tariffs and environmental regulations. Readers are cautioned that the above list of points is not exhaustive.
Additional data on those and other items that may affect the CPI, or its business or monetary results, are included in the CPI Annual Information Form for the year ended December 31, 2022 (see “Cautionary Note Regarding Forward-Looking Information,” “Risk Factors” and the “Notice of Reserves and Resources” contained therein), in Management’s Discussion and Analysis for the year ended December 31, 2023 (see “Cautionary Note Regarding Forward-Looking Information”, “Risk Factors” and “Notice of Reserves and Resources” contained therein) and other reports filed with the applicable securities regulatory authorities, adding beyond monetary reports, Management Discussion and Analysis (MD