IPC Updated Share Capital

December 28, 2018

International Petroleum Corporation (IPC or the Corporation) (TSX, Nasdaq Stockholm: IPCO) reports the following, in accordance with the Swedish Financial Instruments Trading Act:

Following completion of the acquisition of all of the issued and outstanding shares of BlackPearl Resources Inc. as announced on December 14, 2018, the Corporation has issued 75,798,219 new common shares and the total number of issued and outstanding common shares of the Corporation is currently 163,720,065 common shares with voting rights.