EVERGEN INFRASTRUCTURE CP - EVGIF STOCK NEWS

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.

EverGen Infrastructure Corp. (TSXV:EVGN)(OTCQX: EVGIF) announced its common shares will commence trading on the OTCQX Best Market in the U.S. starting September 15, 2022. This upgrade from the OTCQB Venture Market aims to provide enhanced liquidity and accessibility for U.S. investors interested in renewable natural gas (RNG) infrastructure. CEO Chase Edgelow highlighted the company's growth trajectory, intending to deliver over 1 million gigajoules of RNG annually. The OTCQX is recognized by the SEC, allowing for expanded visibility and trading options for investors.

EverGen Infrastructure Corp. (TSXV: EVGN, OTCQB: EVGIF) reported key developments in their Q2 2022 results. The company acquired a 50% interest in Project Radius and completed a 67% interest acquisition in GrowTEC, expected to yield significant RNG production by late 2022. A $31 million Senior Term Loan Facility with Roynat and EDC was secured for funding core RNG projects, which are fully funded. Despite these advancements, Q2 revenues decreased to $2.4 million, impacted by seasonal factors and lower feedstock volumes. The company also recorded a net loss of $0.5 million due to flood-related impacts.

EverGen Infrastructure Corp. has secured a $31 million senior term loan facility from Roynat Capital and EDC to fund its Renewable Natural Gas (RNG) expansion projects. This funding supports the upgrade of its Fraser Valley Biogas and Net Zero Waste Abbotsford facilities, aiming to achieve annual production of 480,000 GJ of RNG. The loan has a five-year term, interest-only payments for the first year, and is subject to due diligence. Key upcoming projects include significant expansions in British Columbia and Alberta, contributing to EverGen's enhanced RNG production capacity.

EverGen Infrastructure Corp. (TSXV: EVGN, OTCQB: EVGIF) plans to announce its 2022 Q2 financial results on August 23, 2022, after market close. A conference call will be held on August 24, 2022, at 10:00 a.m. ET, hosted by CEO Chase Edgelow. EverGen is committed to combatting climate change by developing and operating renewable natural gas and waste-to-energy projects in Canada and beyond.

EverGen Infrastructure Corp. (TSXV: EVGN, OTCQB: EVGIF) has acquired a 67% interest in Grow the Energy Circle Ltd. (GrowTEC) for $2.1 million plus potential additional cash up to $4 million upon hitting operational milestones. This acquisition aims to convert GrowTEC's existing biogas facility into a Renewable Natural Gas (RNG) facility, expected to produce 140,000 gigajoules of RNG annually. With this move, EverGen expands its footprint across Canada, supporting the transition to carbon-negative energy production.

EverGen Infrastructure Corp. (OTCQB: EVGIF) has entered into definitive agreements with Northeast Renewables LP to acquire a 50% interest in Project Radius, a renewable natural gas (RNG) development portfolio in Ontario. The acquisition, valued at $1.5 million, will allow EverGen to produce approximately 1.7 million GJ/year of RNG. The projects are set to start construction in 2023-2024 and will contribute to emission reductions in the agricultural sector. EverGen expects to leverage this foothold for market expansion and potential revenue growth in the RNG industry.

EverGen Infrastructure Corp. (TSXV: EVGN, OTCQB: EVGIF) has received approval from the TSX Venture Exchange for its Normal Course Issuer Bid (NCIB), allowing the company to buy back up to 668,370 common shares over a 12-month period starting June 8, 2022. This decision is aimed at enhancing shareholder value, as EverGen believes the market price may not reflect the true value of its business. No prior purchases have been made under an NCIB. The shares will be bought through open market transactions at prevailing market prices and subsequently canceled.

EverGen Infrastructure Corp. (TSXV: EVGN; OTCQB: EVGIF) reported Q1 2022 results, highlighting revenues of $1.4 million, slightly down from $1.6 million in Q1 2021. The company improved its net loss to $0.2 million from $1.2 million in the prior year, aided by $1.7 million in insurance proceeds. Adjusted EBITDA surged to $0.6 million, a 211% increase compared to Q1 2021. EverGen also announced a strategic acquisition of a 67% stake in GrowTEC and a 50% interest in Project Radius, both enhancing its renewable natural gas capacity.