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International Petroleum Corporation announces 2021 Annual General Meeting voting results

TORONTO, May 04, May 04, 2021 (GLOBE NEWSWIRE via COMTEX) --

International Petroleum Corporation (IPC or the Corporation) (TSX, Nasdaq Stockholm: IPCO) is pleased to announce the voting results from the Corporation's 2021 Annual General Meeting of Shareholders held on May 4, 2021 in Calgary, Alberta.

Number of Directors

The number of Directors of the Corporation was set at seven.

Votes For  % For  Votes Against % Against
54,357,173 99.99% 7,493         0.01%

Election of Directors

The seven nominees listed in the Corporation's management information circular dated March 26, 2021 (the Circular) were elected as Directors of the Corporation to hold office until the next annual meeting of shareholders or until their successors are duly elected or appointed, unless the office is earlier vacated, as described in the Circular.

Nominee                 Votes For  % For  Votes Withheld % Withheld
C. Ashley Heppenstall   54,322,785 99.92% 41,881         0.08%
Mike Nicholson          54,354,227 99.98% 10,439         0.02%
Donald K. Charter       54,345,271 99.96% 19,395         0.04%
Chris Bruijnzeels       54,328,105 99.93% 36,561         0.07%
Torstein Sanness        54,319,668 99.92% 44,998         0.08%
Lukas H. (Harry) Lundin 54,357,649 99.99% 7,017          0.01%
Emily Moore             54,356,690 99.99% 7,976          0.01%

Appointment of Auditor

PricewaterhouseCoopers SA was appointed as auditor of the Corporation until the next annual general meeting of shareholders and the Directors of the Corporation were authorized to fix the auditor's remuneration.

Votes For  % For  Votes Withheld % Withheld
54,635,042 99.99% 3,673          0.01%

Share Unit Plan Amendments

The resolutions approving amendments to the Corporation's Share Unit Plan and related matters, as described in the Circular, were approved.

Votes For  % For  Votes Against % Against
54,267,003 99.32% 371,711       0.68%

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                               Or Robert Eriksson
VP Corporate Planning and Investor Relations    Media Manager
Tel: +41 22 595 10 50                           Tel: +46 701 11 26 15

Forward-Looking Statements

This press release contains statements and information which constitute "forward-looking statements" or "forward-looking information" (within the meaning of applicable securities legislation). Such statements and information (together, "forward-looking statements") relate to future events, including the Corporation's future performance, business prospects or opportunities. Actual results may differ materially from those expressed or implied by 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, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws.

All statements other than statements of historical fact may be forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, forecasts, guidance, budgets, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "forecast", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "budget" and similar expressions) are not statements of historical fact and may be "forward-looking statements".

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