07:28 AM EST, 01/13/2026 (MT Newswires) -- EverGen Infrastructure ( EVGIF ) overnight provided an update on its debt refinancing activities and private placement.

A statement noted that, as previously announced in May 2025, the company had executed a letter of intent for a $13 million asset level debt facility, proceeds of which would be used to repay a majority of its corporate debt, with terms that are better aligned with its current operations and strategic focus. Concurrently, the company had announced plans to raise up to an additional $2 million via second tranche private placement on the same terms as the first tranche financing completed in May 2025.

The company reported "progress" on both strategic initiatives.

EverGen said that, through its wholly owned subsidiary Fraser Valley Biogas (FVB), it entered into a credit agreement with Farm Credit Canada for a $13 million term loan and $250,000 operating line of credit. Closing of the credit agreement and funding thereunder is subject to the satisfaction of customary closing conditions with closing and funding expected to occur in the coming days.

The company also said that it is further extending the second tranche of its non-brokered private placement of up to around 11.7 million common shares of the company for gross proceeds of up to $7 million at a price of $0.60 per common share.

The second tranche of the offering will be for up to around 3.3 million common shares at a price of $0.60 each and gross proceeds of up to $2 million and is expected to close in the coming days.

The first tranche of the offering closed on May 21, 2025, under which the company issued around 8.3 million common shares to ASK America for gross proceeds of $5 million in connection with its reorganization transaction.

The company said that the principal use of proceeds from the offering is to pay certain indebtedness outstanding and for working capital and general corporate purposes.

Closing of the private placement remains subject to customary TSX Venture Exchange approvals.