EverGen secures $13 million debt facility, raises $1.9 million

EverGen Infrastructure Corp. (TSXV: EVGN) (OTCQB: EVGIF) announced the completion of a $13 million asset-level debt facility with Farm Credit Canada through its subsidiary Fraser Valley Biogas Ltd., along with a $1.9 million private placement.

The company used proceeds from the Farm Credit Canada facility to repay $12 million of its corporate debt facilities with Roynat Inc. and Export Development Canada, reducing the remaining corporate debt balance to approximately $1.1 million. The arrangement includes a $13 million term loan and a $250,000 operating line of credit.

EverGen completed the second tranche of its private placement by issuing 3,152,441 common shares at $0.60 per share for gross proceeds of approximately $1.9 million. The first tranche closed on May 21, 2025, when the company issued 8,333,333 shares to ASK America, LLC for $5 million.

The refinancing transactions are expected to reduce the company's annual debt service costs by aligning long-term debt with project cash flows at the asset level rather than corporate level.

"This marks a key step in building a scalable renewable natural gas platform focused on organic and agricultural waste solutions," said CEO Chase Edgelow.

The securities issued in the private placement are subject to a four-month and one-day statutory hold period. The offering remains subject to final acceptance by the TSX Venture Exchange.

EverGen operates as a renewable natural gas infrastructure platform in Canada, acquiring and developing waste-to-energy projects. The company stated the proceeds will be used for debt repayment, working capital and general corporate purposes.

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