EverGen Infrastructure announced it has completed a package of refinancing transactions that includes a new $13 million asset-level credit facility with Farm Credit Canada (FCC) at its wholly owned subsidiary Fraser Valley Biogas Ltd. (FVB), repayment of most of its corporate-level debt, and the closing of a second tranche of a previously announced non-brokered private placement for approximately $1.9 million in gross proceeds.
The company said the new financing is intended to better align long-term debt with project cash flows by shifting borrowings to the operating subsidiary level, which EverGen expects will materially reduce annual debt service costs. EverGen said proceeds from the FCC term loan will be used primarily to repay $12.0 million under its corporate debt facilities with Roynat Inc. and Export Development Canada, reducing corporate-level debt to an estimated remaining balance of about $1.1 million. The FCC facility also includes a $250,000 operating line of credit, which EverGen said will support near-term flexibility.
In parallel, EverGen said it closed the second tranche of its private placement through the issuance of 3,152,441 common shares at $0.60 per share, for gross proceeds of approximately $1.9 million. EverGen said the principal use of proceeds is to repay certain indebtedness and fund working capital and general corporate purposes. The company noted the first tranche of the offering closed May 21, 2025, when it issued 8,333,333 common shares to ASK America, LLC for $5.0 million in connection with a recapitalization and change of management transaction.
EverGen, which positions itself as a renewable natural gas infrastructure platform, said the refinancing supports its strategic repositioning and provides additional balance sheet flexibility for organic growth and optimization initiatives as it heads into 2026.
KEY QUOTE:
“We’re pleased to deepen our relationship with Farm Credit Canada and grateful for the support of our shareholders. 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.”
Chase Edgelow, Chief Executive Officer, EverGen Infrastructure Corp.
