EverGen Infrastructure Provides Update on Debt Refinancing and Private Placement

Executive Summary

• EverGen Infrastructure Corp. entered into a Credit Agreement with Farm Credit Canada for a $13 million term loan and a $250,000 operating line of credit, pending customary closing conditions.
• The company is extending its non‑brokered private placement (second tranche) to raise up to $2 million (3,333,334 shares at $0.60 per share), bringing total potential proceeds from the offering to $7 million.
• Proceeds from both the debt facility and the private placement will be used primarily to repay existing indebtedness and for working capital and general corporate purposes.

Key Details

• Credit Agreement:
• Lender: Farm Credit Canada (via wholly‑owned subsidiary Fraser Valley Biogas).
• Term loan amount: $13 million.
• Operating line of credit: $250,000.

• Closing and funding expected in the coming days, subject to customary conditions.

• Private Placement – First Tranche (completed May 21 2025):

• Shares issued: 8,333,333 common shares to ASK America, LLC.

• Gross proceeds: $5 million at $0.60 per share.

• Private Placement – Second Tranche (currently open):

• Maximum shares: 3,333,334 common shares.
• Price per share: $0.60.
• Gross proceeds target: up to $2 million.
• Total potential gross proceeds for the offering (both tranches): up to $7 million.
• Shares subject to a statutory four‑month‑and‑one‑day hold period.

• Closing contingent on TSX Venture Exchange approvals and customary conditions.

• Use of Proceeds:

• Repayment of existing corporate debt.
• Working capital.

• General corporate purposes.

• Strategic Context:

• The financing aligns with EverGen’s current operations and strategic focus, supporting a strong outlook for 2026.

Notable Quotes

(No direct quotes were provided in the release.)