IPC publishes prospectus for issuance of new IPC shares in connection with the acquisition of BlackPearl

International Petroleum Corporation (“IPC”) (TSX, Nasdaq Stockholm: IPCO) is pleased to announce that IPC’s prospectus for the proposed issuance of new common shares of IPC to the securityholders of BlackPearl Resources Inc. (“BlackPearl”) in connection with the acquisition by IPC of BlackPearl (the “Acquisition”) has been approved.

The prospectus was approved by and registered with the Swedish Financial Supervisory Authority (Sw. Finansinspektionen) today. The prospectus is available on IPC’s website (www.international-petroleum.com) and will be available on the Swedish Financial Supervisory Authority’s website (www.fi.se). The completion of the Acquisition and the issuance of new IPC common shares to BlackPearl securityholders remains subject to the satisfaction or waiver of the remaining conditions to the Acquisition, including approval by the IPC shareholders and the BlackPearl securityholders at the special meetings scheduled for December 7, 2018. The completion of the Acquisition is expected to occur on or around December 14, 2018. The first day of trading of the new IPC common shares on Nasdaq Stockholm is expected to be on or around December 21, 2018.