EverGen secures a $13m Farm Credit Canada loan and extends its private placement to refinance debt, fund working capital, and support its RNG growth strategy into 2026.
Summary
- EverGen’s Fraser Valley Biogas unit locked in a $13m term loan plus a $250k operating line with Farm Credit Canada, pending closing conditions.
- The company is extending its second-tranche, non-brokered private placement to raise up to $2m after a $5m first tranche in May 2025.
- Proceeds will be used to repay corporate debt, strengthen liquidity, and back EverGen’s RNG platform and North American expansion plans.
EverGen Infrastructure Corp. announced progress on debt refinancing and private placement initiatives aimed at strengthening its financial position through 2026, the company said in a statement.
The Canadian renewable energy company secured a term loan and operating line of credit through its subsidiary Fraser Valley Biogas with Farm Credit Canada, according to the announcement. The funding is expected to close in the coming days, subject to customary conditions.
EverGen is extending the second tranche of its non-brokered private placement, offering additional common shares to raise capital, the company said. Proceeds will be used to repay certain outstanding debt and cover working capital and general corporate purposes, according to the statement.
The shares will be subject to a statutory four-month and one-day hold period and require TSX Venture Exchange approval, the company said.
The first tranche, completed in May 2025, raised funds through share issuance to ASK America, LLC in connection with a company reorganization, according to the announcement. The two tranches support EverGen’s strategy to align financing with operational priorities while maintaining flexibility for future growth, the company stated.
EverGen operates a renewable natural gas and waste-to-energy infrastructure platform in Canada, with a portfolio of assets supporting sustainable energy production. The company has indicated plans for expansions across North America.
The company included forward-looking statements cautioning that outcomes depend on regulatory approvals, closing conditions, and market factors, including energy commodity prices, regulatory developments, and access to capital.
Source: https://crypto.news/evergen-seals-13m-term-loan-extends-private-placement-to-cut-debt/
