EverGen Infrastructure Provides Update on Debt Refinancing and Private Placement

0 0 5 minutes read

Article content

Not for Distribution to US News Services or Distribution in the United States

Article content

VANCOUVER, British Columbia – EverGen Infrastructure Corp.EverGen” or “Company”) (TSXV: EVGN) (OTCQB: EVGIF), is pleased to provide an update on the Company’s debt financing and private placement activities.

Article content

As previously announced in May 2025, EverGen had written a letter of intent for a $13 million debt facility, the proceeds of which would be used to pay off a large portion of its corporate debt, on terms that better align with the Company’s current operations and strategic focus. At the same time, the Company had announced plans to raise $2 million through a second-stage private placement on the same terms as the first stage of financing that was completed in May 2025 ($0.60 per share). The company is pleased to report progress on both strategic plans, which support a strong vision for 2026.

Article content

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 a $250,000 line of credit.

Article content

Private Placement Update:

Article content

The Company continues to extend the second stage of its previously announced unsold private placement of up to 11,666,667 common shares of the Company (“Common Sharing”) for gross proceeds of up to $7,000,000 at a price of $0.60 per common share (the “Donation”). The first phase of the Offering closed on May 21, 2025, after which the Company issued 8,333,333 Common Shares to ASK America, LLC for a total of $5,000,000 in connection with the Company’s reorganization project, further details of which are available in the Company’s press releases on April 21, 25, and May 20. 2025.

Article content

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 in aggregate capital of up to $2,000,000 and is expected to close in the coming days. The primary use of the proceeds from the Offering is to repay certain outstanding debt and for working capital and general corporate purposes. The Ordinary Shares issued pursuant to the Offer are subject to a statutory period of four months and a one-day holding period. The closing of the private placement remains subject to the normal approvals of the TSX Venture Exchange.

Article content

About EverGen Infrastructure Corp.

Article content

EverGen, Canada’s Renewable Natural Gas Infrastructure Platform, is fighting climate change and helping communities contribute to a sustainable future. Headquartered on Canada’s West Coast, EverGen is an independent renewable energy producer that acquires, develops, builds, manages and operates a portfolio of Renewable Natural Gas, waste-to-energy, and related infrastructure projects. EverGen is focused on Canada, with continued growth expected in other regions in North America and beyond.

Article content

For more information about EverGen Infrastructure Corp. and our projects, please visit www.evergeninfra.com Forward-Looking Information

Article content

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, words such as “would”, “expect”, “believe”, “expect”, “expect” and similar expressions, as they relate to EverGen, or its management, are intended to identify forward-looking statements. In particular, and without limitation, this press release contains forward-looking statements and information regarding the Company’s expectations regarding the timing of the closing and financing 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 situation EverGen’s views regarding future events, and are subject to certain risks, uncertainties and assumptions., including the acceptance of all approvals and the satisfaction of all conditions to the conclusion of the Credit Agreement and the Offering. A number of factors could cause EverGen’s actual results, performance or achievements to differ materially from any expected future results, performance or achievements that may be expressed or implied by such forward-looking statements and, accordingly, no assurance can be given that any events anticipated by the forward-looking statements will or will occur, or if any, what benefits EverGenom will bring to the customer. undue reliance on the forward-looking statements contained in this press release.

Article content

The Company cautions that these forward-looking statements are subject to a number of risks and uncertainties, including but not limited to: risks from foreign countries closing the Credit Agreement and the Offering; the impact of general economic conditions in Canada, including the current state of inflation; industry conditions including changes in laws and regulations and/or the adoption of new environmental laws and regulations and changes in the way they are interpreted and applied, in Canada; volatility in energy commodity prices; changes in the demand for clean energy to be supplied by EverGen; competition; lack of qualified personnel; obtaining necessary approvals from regulatory authorities in Canada; the ability to obtain sufficient funds 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 derived from the completed acquisition of the Company; the adequacy of EverGen’s capital to fund operations and to comply with the covenants under its credit facility; continued growth through strategic acquisitions and merger opportunities; continued growth in food stock opportunities from municipal and commercial sources, and the factors discussed under “Risk Factors” in the Company’s Annual Information Form dated April 22, 2024, available on SEDAR+

Article content

most of them are beyond EverGen’s control. Forward-looking statements included in this news release should not be read as guarantees of performance or future 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 intention, duty or obligation 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 will not constitute an offer to sell or the solicitation of an offer to buy securities in any location.

Article content

Neither the TSX Venture Exchange nor its Legal Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Article content