Evergen Infrastr Stock Price, News & Analysis

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.

EverGen Infrastructure Corp. has acquired a 50% interest in the Project Radius, a portfolio of RNG development projects in Ontario, for $1.5 million. This acquisition is expected to triple EverGen’s RNG capacity to exceed 1,000,000 GJ annually. Project Radius aims to produce approximately 1.7 million GJ/year of RNG from three agricultural projects, enhancing sustainability and emissions reduction. EverGen also holds a letter of intent for a 67% interest in GrowTec in Alberta, further strengthening its RNG infrastructure presence in Canada.

EverGen Infrastructure Corp. (TSXV: EVGN, OTCQB: EVGIF) plans to release its first quarter 2022 financial results on May 24, 2022, after market close. A conference call will be held on May 25, 2022, at 10:00 a.m. ET, led by CEO Chase Edgelow. The company focuses on renewable energy projects, including Renewable Natural Gas and waste-to-energy solutions, helping combat climate change. This marks a critical update for stakeholders and those interested in sustainable infrastructure investments.

EverGen Infrastructure Corp. (TSXV: EVGN, OTCQB: EVGIF) has filed a Notice of Intention to Make a Normal Course Issuer Bid (NCIB) with the TSX Venture Exchange. This allows the company to purchase up to 668,370 common shares over a 12-month period starting May 23, 2022. EverGen aims to enhance shareholder value by repurchasing shares that may not fully reflect the company's underlying value. All shares acquired will be canceled, and the NCIB is pending approval from the TSXV.

EverGen Infrastructure Corp. (TSXV: EVGN, OTCQB: EVGIF) reported its financial results for 2021, revealing a revenue increase to $9.6 million, up from previous periods, but a net loss of $1.1 million. The company faced operational challenges due to severe flooding that temporarily shut down its Fraser Valley Biogas facility. However, insurance recoveries exceeding $1.7 million are anticipated. EverGen outlined plans for significant capital expansions at multiple facilities to enhance RNG production, while maintaining a robust cash position of $19.6 million for future growth.

EverGen Infrastructure Corp. (TSXV: EVGN, OTCQB: EVGIF) will release its 2021 fourth quarter and year-end financial results on April 21, 2022, after market close. A conference call hosted by CEO Chase Edgelow is scheduled for April 22, 2022, at 10:00 a.m. ET, to discuss the results and provide a corporate update. EverGen, focused on renewable natural gas projects, aims to combat climate change and expand its operations across North America from its base in British Columbia.

EverGen Infrastructure Corp. (TSXV: EVGN, OTCQB: EVGIF) has announced a letter of intent to acquire a 67% stake in a biogas facility in Alberta from GrowTEC for $6.6 million. The deal consists of $3.3 million cash and 600,000 shares valued at $5.50 each. The facility is expected to produce 80,000 gigajoules of Renewable Natural Gas (RNG) yearly, with plans to expand to 140,000 gigajoules. This move marks EverGen's entry into Alberta and is part of its strategy to become a leading RNG producer in the region, contributing to sustainable energy initiatives.

EverGen Infrastructure Corp. (OTCQB: EVGIF) has begun trading its common shares on the OTCQB Venture Market in the U.S. as of February 15, 2022. This move aims to attract a wider base of investors and enhance liquidity. The company is also seeking eligibility for the DTC, facilitating electronic settlements. Co-Founder and CEO Chase Edgelow highlighted that this listing aligns with EverGen's growth strategy, particularly with its long-term RNG expansion projects boosting financial performance. The OTCQB offers an accessible platform for U.S. investors to trade EverGen's shares.