CALGARY,
AB, May 24, 2024 /CNW/ - Enerplus Corporation
("Enerplus" or the "Company") (TSX: ERF) (NYSE: ERF) announced
today that the Company's shareholders have voted to approve the
previously announced plan of arrangement (the "Arrangement") which
provides for the acquisition by Chord Energy Corporation ("Chord"),
through its wholly-owned subsidiary Spark Acquisition ULC, of all
of the outstanding common shares of Enerplus. The Arrangement was
approved by approximately 99.6% of votes cast by Company
shareholders at a special meeting held today to consider the
Arrangement. The Company also announced the transaction has
received Investment Canada Act approval.
The Arrangement is expected to close on or about May 31, 2024, subject to the receipt of a final
order from the Court of King's Bench of Alberta with respect to the Arrangement, which
is currently scheduled for May 28,
2024, and the satisfaction or waiver of other customary
closing conditions.
About Enerplus
Enerplus is an independent North American oil and gas
exploration and production company focused on creating long-term
value for its shareholders through a disciplined, returns-based
capital allocation strategy and a commitment to safe, responsible
operations. For more information, visit the Company's website at
www.enerplus.com.
Forward-Looking
Statements
Certain statements in this document are "forward-looking"
statements based on assumptions currently believed to be valid.
Forward-looking statements are all statements other than statements
of historical facts. The words "anticipate," "believe," "ensure,"
"expect," "if," "intend," "estimate," "probable," "project,"
"forecasts," "predict," "outlook," "aim," "will," "could,"
"should," "would," "potential," "may," "might," "anticipate,"
"likely," "plan," "positioned," "strategy," and similar expressions
or other words of similar meaning, and the negatives thereof, are
intended to identify forward-looking statements. Specific
forward-looking statements include statements regarding the
anticipated closing date of the Arrangement. The forward-looking
statements are intended to be subject to the safe harbor provided
by Section 27A of the Securities Act of 1933, Section 21E of the
Securities Exchange Act of 1934 and the Private Securities
Litigation Reform Act of 1995.
These forward-looking statements involve significant risks
and uncertainties that could cause actual results to differ
materially from those anticipated, including, but not limited to,
the risk that a condition to closing of the Arrangement may not be
satisfied; that the closing of the Arrangement might be delayed or
not occur at all; potential adverse reactions or changes to
business or employee relationships of Chord or Enerplus, including
those resulting from the announcement or completion of the
Arrangement; the diversion of management time on
transaction-related issues; the effects of commodity prices; the
risks of oil and gas activities; and the fact that operating costs
and business disruption may be greater than expected following the
public announcement or consummation of the Arrangement. Additional
factors that could cause results to differ materially from those
described above can be found in Enerplus' annual information form
for the year ended December 31, 2023,
which is on file with the Securities and Exchange Commission (the
"SEC") and on SEDAR+ and available from Enerplus' website at
www.enerplus.com under the "Investors" tab, and in other documents
Enerplus files with the SEC, TSX or on SEDAR+.
All forward-looking statements speak only as of the date they
are made and are based on information available at that time.
Enerplus assumes no obligation to update forward-looking statements
to reflect circumstances or events that occur after the date the
forward-looking statements were made or to reflect the occurrence
of unanticipated events except as required by applicable securities
laws. As forward-looking statements involve significant risks and
uncertainties, caution should be exercised against placing undue
reliance on such statements.
SOURCE Enerplus Corporation