TORONTO, Nov. 07, 2019 (GLOBE NEWSWIRE) -- International Petroleum Corporation (IPC) (TSX, Nasdaq Stockholm: IPCO) announces that Lorito Holdings S.à.r.l. ("Lorito") and Zebra Holdings and Investments S.à.r.l ("Zebra"), both private corporations owned by a trust whose settlor was the late Adolf H. Lundin, have restructured their holdings in IPC.

Lorito has transferred 3,022,017 common shares of IPC and Zebra has transferred 3,192,541 common shares of IPC to Nemesia S.à.r.l. ("Nemesia"), also a private corporation owned by a trust whose settlor was the late Adolf H. Lundin.

As a result of this restructuring, Zebra now holds 2,633,618 common shares of IPC and Lorito no longer holds any common shares of IPC. Nemesia, having also acquired an additional 2,643,777 common shares of IPC at the same time from Landor Participations Inc. (controlled by another Lundin family trust), now holds 38,063,915 common shares of IPC. Following the restructuring, the Lundin family trust controls 40,697,533 common shares or 24.86% of the issued and outstanding common shares of IPC.

International Petroleum Corp. (IPC) is an international oil and gas exploration and production company with a high quality portfolio of assets located in Canada, Malaysia and Europe, providing a solid foundation for organic and inorganic growth. IPC is a member of the Lundin Group of Companies. IPC is incorporated in Canada and IPC’s shares are listed on the Toronto Stock Exchange (TSX) and the Nasdaq Stockholm under the symbol "IPCO".

For further information, please contact:

Rebecca Gordon
VP Corporate Planning and Investor Relations
rebecca.gordon@international-petroleum.com
Tel: +41 22 595 10 50
 

Or
Robert Eriksson
Media Manager
reriksson@rive6.ch
Tel: +46 701 11 26 15

Forward-Looking Statements
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