CALGARY, May 31, 2016 /CNW/ - Enerplus Corporation
("Enerplus" or the "Company") (TSX: ERF, NYSE: ERF) is pleased to
announce that it has closed the equity offering (the "Offering")
previously announced on May 10, 2016.
Upon closing of the Offering, a total of 33,350,000 common shares
were issued at a price of C$6.90 per
share for gross proceeds of C$230,115,000. This includes 4,350,000 common
shares issued pursuant to the exercise by the underwriters of the
over-allotment option in full. The syndicate of underwriters was
led by BMO Capital Markets, RBC Capital Markets and TD Securities
Inc. The net proceeds from the Offering will be used to reduce
indebtedness under Enerplus' bank credit facility, to fund its
capital expenditures and for general corporate purposes.
The common shares were offered by way of a short form prospectus
in all of the provinces and territories of Canada and were also offered by way of private
placement in the United
States.
The securities offered have not been registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold
in the United States absent
registration or an applicable exemption from the registration
requirements. This news release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any
sale of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
Enerplus is a responsible developer of high quality crude oil
and natural gas assets in Canada
and the United States.
Follow @EnerplusCorp on Twitter at
https://twitter.com/EnerplusCorp
Ian C. Dundas
President & Chief Executive Officer
Enerplus Corporation
Except for the historical and present factual information
contained herein, the matters set forth in this news release,
including words such as "will" and similar expressions, are
forward-looking information that represents management of Enerplus'
internal projections, expectations or beliefs concerning the use of
net proceeds from this Offering. The projections, estimates and
beliefs contained in such forward-looking statements necessarily
involve known and unknown risks and uncertainties, which may cause
Enerplus' actual performance and financial results in future
periods to differ materially from any projections of future
performance or results expressed or implied by such forward-looking
statements. These risks and uncertainties include, among other
things, those described in Enerplus' filings with the Canadian and
U.S. securities authorities. Accordingly, holders of Enerplus
shares and potential investors are cautioned that events or
circumstances could cause results to differ materially from those
predicted. The forward-looking information in this news release is
made as of the date hereof and, except as required by law, Enerplus
undertakes no obligation to update any forward-looking
information.
SOURCE Enerplus Corporation