EverGen secures $13 million credit facility with Farm Credit Canada

EverGen Infrastructure Corp. (TSXV: EVGN) (OTCQB: EVGIF) entered into a credit agreement with Farm Credit Canada for a $13 million term loan and $250,000 operating line of credit through its subsidiary Fraser Valley Biogas, according to a company statement.

The credit facility requires satisfaction of customary closing conditions, with closing and funding expected in the coming days. The proceeds will be used to repay a majority of the company's corporate debt.

EverGen also extended the second tranche of its private placement offering for up to 3,333,334 common shares at $0.60 per share, targeting gross proceeds of up to $2 million. The second tranche closing is expected in the coming days, subject to TSX Venture Exchange approvals.

The company completed the first tranche of the private placement on May 21, 2025, issuing 8,333,333 common shares to ASK America, LLC for $5 million in gross proceeds. The total offering allows for up to 11,666,667 common shares for maximum gross proceeds of $7 million.

Proceeds from the private placement will be used to pay outstanding debt and for working capital and general corporate purposes. The common shares issued are subject to a statutory four-month and one-day hold period.

EverGen operates as a renewable energy producer focused on acquiring, developing, and operating renewable natural gas and waste-to-energy infrastructure projects in Canada.

You May Also Be Interested In

• Evogene to Present Its Pharma Division Achievements at the BIO International Convention
• Adamas Trust sets up $250 million stock offering program
• Advanced Energy to redeem $136.7 million convertible notes in 2026