EverGen Infrastructure Announcing Closing of New FCC Credit Facility and $1.9 Million Private Placement

07:26 AM EST, 01/16/2026 (MT Newswires) -- EverGen Infrastructure (EVGIF) late Thursday announced the closing of its previously announced $13 million asset-level debt facility with Farm Credit Canada (FCC) through its wholly owned subsidiary Fraser Valley Biogas (FVB), the repayment of the majority of the company's corporate debt facility, and the closing of the second tranche of its previously announced non-brokered private placement for gross proceeds of approximately $1.9 million.

EverGen confirmed that FVB closed a credit agreement with FCC for $13 million term loan and a $250,000 operating line of credit. It added that the term loan proceeds will be used primarily to repay $12 million under the company's corporate debt facilities with Roynat Inc and Export Development Canada, and to support EverGen's balance sheet.

The company said that it is expected to materially reduce its annual debt service costs.

The company also announced that it closed the second tranche of its non-brokered private placement for gross proceeds of approximately $1.9 million, through the issuance of around 3.15 million common shares of the company at a price of $0.60 each.

The first tranche of the offering closed on May 21, 2025, pursuant to which the company issued around 8.33 million common shares to ASK America for gross proceeds of $5 million in connection with the company's recapitalization and change of management transaction. Certain directors and officers of the company acquired common shares under the offering.

The principal use of proceeds from the offering is to repay certain indebtedness outstanding and for working capital and general corporate purposes, said the company. The offering remains subject to final acceptance of the TSX Venture Exchange.

A statement noted that the refinancing transactions "strengthen" the company's financial foundation heading into 2026 by improving alignment of financing with operating cash flows by shifting to long-term, asset-level debt at FVB, materially reducing overall debt service costs, and paying down corporate-level debt by $12 million to a remaining balance of approximately $1.1 million. It also noted that the refinancing transactions further increases near-term financial flexibility through additional equity proceeds and an operating line of credit.

"We're pleased to deepen our relationship with Farm Credit Canada and grateful for the support of our shareholders," said EverGen Infrastructure's (EVGIF) chief executive officer Chase Edgelow. "This marks a key step in building a scalable renewable natural gas platform focused on organic and agricultural waste solutions. At $0.60 per share, we see material upside as the business delivers on operational milestones. The deal aligns financing with our assets, signals institutional confidence, and gives us the flexibility to accelerate growth."

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