EVERGEN INFRASTRUCTURE CP - EVGIF STOCK NEWS

EverGen Infrastructure Corp. (TSX.V: EVGN) (OTCQX: EVGIF) has been featured in an editorial by NetworkNewsWire, highlighting the surge in the renewable energy market due to the Inflation Reduction Act (IRA). The IRA allocates $369 billion to boost clean energy production, potentially tripling output by 2030. EverGen, a key player in renewable natural gas (RNG), aims to capitalize on this growth as over 550 gigawatts of new energy supply from green sources is expected. The company, headquartered in Canada, focuses on developing and operating RNG and waste-to-energy projects, anticipating expansion across North America.

EverGen Infrastructure Corp. has secured a $31 million syndicated senior term loan facility, enhancing its funding strategy for expansion projects. The agreement was made with Roynat Capital and Export Development Canada, each contributing 50%. This financing aims to support the construction and upgrades of EverGen's Renewable Natural Gas facilities, including $15 million for refinancing existing debt and $16 million for new projects. The facility has a five-year term with a 10-year amortization period and initial interest-only payments.

EverGen Infrastructure Corp. (EVGIF) reported stable revenues of $2.0 million for Q3 2022, in line with last year's figures. The company completed a significant acquisition of a 67% stake in GrowTEC and is nearing completion of its RNG expansion project, currently at 80%. EverGen secured $31 million in funding for expansion and signed a long-term RNG offtake agreement, enhancing its market position. Despite flood-related costs impacting net income, the company anticipates growth with ongoing projects.

EverGen Infrastructure Corp. (TSXV: EVGN, OTCQX: EVGIF) is set to release its 2022 Q3 financial results on November 21, 2022, after market close. A conference call for results and corporate updates will follow on November 22, 2022, at 10:00 a.m. ET, led by CEO Chase Edgelow. As a key player in Canada's Renewable Natural Gas infrastructure, EverGen focuses on acquiring and operating clean energy projects, aiming for growth across North America.

EverGen Infrastructure Corp. (TSXV: EVGN, OTCQX: EVGIF) has commenced construction on its Core RNG Expansion Project at Fraser Valley Biogas, which is set to double the facility's renewable natural gas (RNG) production capacity to approximately 160,000 GJ annually. The project, started in Q3 2022, remains on schedule and within its capital budget of C$13M-C$15M. Additionally, a new long-term offtake agreement aligns with a stronger RNG market, expected to significantly enhance revenues and EBITDA. The expansion is anticipated to complete by Q1 2023.

EverGen Infrastructure Corp. (TSXV: EVGN, OTCQX: EVGIF) has appointed Sean Hennessy as Chief Financial Officer (CFO), effective immediately. Previously Vice President, Finance & Controller, Sean brings over 15 years of experience in finance and accounting within the clean energy sector. His notable roles include work at a global energy infrastructure firm and as a chartered accountant at PwC New Zealand. His appointment aims to strengthen EverGen's financial leadership as the company continues to focus on renewable energy projects across Canada and North America.

EverGen Infrastructure Corp. (TSXV: EVGN, OTCQX: EVGIF) announces that construction on Phase 1 of the GrowTEC RNG Expansion Project is 80% complete and ahead of schedule. This biogas facility focuses on converting organic waste to renewable natural gas (RNG) and is set to produce 80,000 gigajoules of RNG annually, supported by a long-term offtake agreement with FortisBC. Phase 2 is projected to add another 60,000 gigajoules, totaling 140,000 gigajoules of annual production. The project is expected to enhance EverGen's cash flow position.

EverGen Infrastructure Corp. (TSXV: EVGN, OTCQX: EVGIF) has partnered with Adelaide Capital for investor relations and consulting services. Adelaide, known for its innovative approach, will help EverGen enhance its capital markets program, including organizing roadshows and investor communications. The agreement entails a monthly fee of C$10,000 and 15,000 stock options priced at $2.75 per share over a three-year term, pending board approval. This collaboration aims to strengthen shareholder communication as EverGen continues its growth in renewable energy infrastructure.

EverGen Infrastructure Corp. has signed a term sheet for a long-term offtake agreement to sell up to 190,000 GJ of Renewable Natural Gas (RNG) annually from its Fraser Valley Biogas Facility. This agreement replaces an existing one and is timed with stronger market pricing. The agreement supports a fully funded Core RNG Expansion project, which aims to double the facility's production capacity to approximately 160,000 GJ per year. EverGen's long-term goal is to reach 1,000,000 GJ of RNG annually across its portfolio.