EverGen Infrastructure closed its previously announced $13 million asset-level debt facility with Farm Credit Canada (FCC) through its wholly owned subsidiary Fraser Valley Biogas (FVB), repaid the majority of the company’s corporate debt facility and closed the second tranche of its previously announced non-brokered private placement for gross proceeds of approximately $1.9 million.
The refinancing transactions represent another milestone in EverGen’s strategic repositioning and strengthen the company’s financial foundation heading into 2026 by:
- Improving alignment of financing with operating cash flows by shifting to long-term, asset-level debt at FVB, materially reducing overall debt service costs
- Paying down corporate-level debt by $12 million to a remaining balance of approximately $1.1 million
- Further increasing near-term financial flexibility through additional equity proceeds and an operating line of credit
“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, CEO of EverGen, said.
FVB has closed a credit agreement with FCC for $13 million term loan and a $250,000 operating line of credit. The term loan proceeds will be used primarily to repay $12 million under the company’s corporate debt facilities with Roynat and Export Development Canada, and to support EverGen’s balance sheet. This is expected to materially reduce the Company’s annual debt service costs.
