Not for Distribution to US Newswire Services or Dissemination in the United States
VANCOUVER, British Columbia–(BUSINESS WIRE)–EverGen Infrastructure Corp. (“EverGen” or “the Company”) (TSXV: EVGN) (OTCQB: EVGIF), is pleased to provide an update on the Company’s debt refinancing activities and private placement.
As previously announced in May 2025, EverGen had executed a letter of intent for a $13 million asset level debt facility, proceeds of which would be used to repay a majority of its corporate debt, with terms that are better aligned with the Company’s current operations and strategic focus. Concurrently, the Company had announced plans to raise up to an additional $2 million via second tranche private placement on the same terms as the first tranche financing completed in May 2025 ($0.60 per share). The Company is pleased to report progress on both strategic initiatives, underpinning a strong outlook for 2026.
Today, EverGen, through its wholly owned subsidiary Fraser Valley Biogas (“FVB”), entered into a Credit Agreement (the “Credit Agreement”) with Farm Credit Canada for a $13 million term loan and $250,000 operating line of credit. Closing of the Credit Agreement and funding thereunder is subject to the satisfaction of customary closing conditions with closing and funding expected to occur in the coming days.
Private Placement Update:
The Company is further extending the second tranche of its previously announced non-brokered private placement of up to 11,666,667 common shares of the Company (“Common Shares”) for gross proceeds of up to $7,000,000 at a price of $0.60 per Common Share (the “Offering”). The first tranche of the Offering closed on May 21, 2025, pursuant to which the Company issued 8,333,333 Common Shares to ASK America, LLC for gross proceeds of $5,000,000 in connection with the Company’s reorganization transaction, further details of which are available in the Company’s press releases dated May 21, 2025 and April 23, 2025.
The second tranche of the Offering will be for up to 3,333,334 Common Shares at a price of $0.60 per share and gross proceeds of up to $2,000,000 and is expected to close in the coming days. The principal use of proceeds from the Offering is to pay certain indebtedness outstanding and for working capital and general corporate purposes. The Common Shares issued pursuant to the Offering are subject to a statutory four-month and one day hold period. Closing of the private placement remains subject to customary TSX Venture Exchange approvals.
About EverGen Infrastructure Corp.
EverGen, Canada’s Renewable Natural Gas Infrastructure Platform, is combating climate change and helping communities contribute to a sustainable future. Headquartered on the West Coast of Canada, EverGen is an established independent renewable energy producer which acquires, develops, builds, owns, and operates a portfolio of Renewable Natural Gas, waste to energy, and related infrastructure projects. EverGen is focused on Canada, with continued growth expected across other regions in North America and beyond.
For more information about EverGen Infrastructure Corp. and our projects, please visit www.evergeninfra.com
Forward-Looking Information
This news release contains certain forward-looking statements and/or forward-looking information (collectively, “forward looking statements”) within the meaning of applicable securities laws. When used in this release, such words as “would”, “will”, “anticipates”, “believes“, ”explores“, ”expects“ and similar expressions, as they relate to EverGen, or its management, are intended to identify such forward-looking statements. More particularly, and without limitation, this press release contains forward looking statements and information concerning the Company’s expectations regarding the timing of closing and funding of the Credit Agreement and Offering, the use of proceeds under the Credit Agreement and Offering, obtaining TSX Venture Exchange approvals. Such forward-looking statements reflect the current views of EverGen with respect to future events, and are subject to certain risks, uncertainties and assumptions., including the receipt of all approvals and satisfaction of all conditions to completion of the Credit Agreement and the Offering. Many factors could cause EverGen’s actual results, performance or achievements to be materially different from any expected future results, performance or achievement that may be expressed or implied by such forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what benefits EverGen will derive therefrom, and accordingly, readers are cautioned not to put undue reliance on the forward-looking statements contained in this press release.
The Company cautions that these forward-looking statements are subject to numerous risks and uncertainties, including but not limited to: counterparty risk to closing the Credit Agreement and the Offering; the impact of general economic conditions in Canada, including the current inflationary environment; industry conditions including changes in laws and regulations and/or adoption of new environmental laws and regulations and changes in how they are interpreted and enforced, in Canada; volatility of prices for energy commodities; change in demand for clean energy to be offered by EverGen; competition; lack of availability of qualified personnel; obtaining required approvals of regulatory authorities in Canada; ability to access sufficient capital from internal and external sources; optimization and expansion of organic waste processing facilities and RNG feedstock; the realization of cost savings through synergies and efficiencies expected to be realized from the Company’s completed acquisitions; the sufficiency of EverGen’s liquidity to fund operations and to comply with covenants under its credit facility; continued growth through strategic acquisitions and consolidation opportunities; continued growth of the feedstock opportunity from municipal and commercial sources, and the factors discussed under ”Risk Factors” in the Company’s Annual Information Form dated April 22, 2024, which is available on SEDAR+ at www.sedarplus.ca, many of which are beyond the control of EverGen. Forward-looking statements included in this news release should not be read as guarantees of future performance or results. The forward-looking statements contained in this release are made as of the date of this release, and except as may be expressly required by applicable law, EverGen disclaims any intent, obligation or undertaking to publicly release any updates or revisions to any forward-looking statements contained herein whether as a result of new information, future events or results or otherwise. This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts
Chase Edgelow
Co-founder & CEO
[email protected]
