EverGen secures $13 million credit facility with Farm Credit Canada

EverGen Infrastructure Corp. (TSXV: EVGN) (OTCQB: EVGIF) announced it 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.

The Vancouver-based renewable energy company said closing and funding of the credit facility is subject to customary closing conditions and is expected to occur in the coming days. The proceeds will be used to repay a majority of the company's corporate debt.

EverGen also provided an update on its private placement activities. The company is extending the second tranche of its non-brokered private placement for up to 3.33 million common shares at $0.60 per share, raising up to $2 million in gross proceeds. The second tranche is expected to close in the coming days, subject to TSX Venture Exchange approvals.

The first tranche of the private placement closed on May 21, 2025, when EverGen issued 8.33 million common shares to ASK America, LLC for $5 million in gross proceeds. The total private placement could raise up to $7 million through the issuance of up to 11.67 million common shares.

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

EverGen operates as a renewable natural gas infrastructure platform, acquiring and developing waste-to-energy projects primarily in Canada. The debt refinancing and private placement activities follow the company's previously announced reorganization transaction completed in May 2025.

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