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.