CALGARY, AB, July 28, 2022 /CNW/ - Enerplus Corporation ("Enerplus" or the "Company") (TSX: ERF) (NYSE: ERF) today announced that it has entered into a definitive agreement to sell certain Canadian assets (the "Assets") located in Alberta to Journey Energy Inc. ("Journey") for total consideration of CDN$140 million (US$109 million), prior to closing adjustments. Under the terms of the agreement, the total consideration comprises cash of CDN$81 million, 3.0 million common shares in Journey valued at CDN$14 million based on its last five trading days volume weighted average share price, and a CDN$45 million monthly amortizing, interest-bearing loan which Enerplus will provide to Journey that is secured by certain of the Assets and which must be repaid in full by October 31, 2024.