EverGen Infrastructure Corp. completes its initial public offering | 2021-08-04 | Press Releases

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Do not distribute to US news agencies or broadcast in the United States

VANCOUVER, British Columbia, August 04, 2021 (GLOBE NEWSWIRE) – EverGen Infrastructure Corp. (“EverGen”Or the“Company”) Is pleased to announce that it has successfully completed its previously announced IPO (the”Offer”) Of 3,080,000 units (the”FreeUnits”) Of the Company at a price of $ 6.50 per unit offered (the“ ”Offer price”), For total gross proceeds of $ 20,020,000 (the”Offer”).

The company’s common shares were listed and suspended on July 30, 2021 and will resume trading today on the TSX Venture Exchange under the symbol “EVGN & CloseCurlyDoubleQuote”.

The placement was made by a syndicate of underwriters led by Desjardins Capital Markets, Clarus Securities Inc., Echelon Wealth Partners Inc. and RBC Capital Markets acting as co-lead managers and associate bookrunners (the “Co-leader”) For the placement, together with Haywood Securities Inc. and PI Financial Corp. (collectively with the co-leaders, the “Subscribers”).

Each offered unit consisted of one common share of the Company and one-half common share purchase warrant. Each whole common share purchase warrant entitles its holder to purchase one common share of the Company at an exercise price of $ 10.50 until August 4, 2023.

The Company has also granted the underwriters an over-allotment option allowing them to purchase up to 462,000 additional Offered Units at the Offering Price, which may be exercised in whole or in part, at any time on or before the date that falls 30 days after the closing of the Offer (the “Closing Date”). If the Over-Allotment Option is exercised in full, additional gross proceeds of $ 3,003,000 will be exercised.

Today’s announcement follows recent key milestones, including a 20-year offtake agreement with Fortis BC, and the acquisitions of Sea to Sky Soils, Net Zero Waste Abbotsford and Fraser Valley Biogas (the original facility renewable natural gas from BC ‘the North American gas infrastructure network). The Offer will allow EverGen to continue to expand its infrastructure network.

The securities in the Offer have not been and will not be registered under the United States Securities Act of 1933, as amended (the “”U.S. Securities Law”), Or the securities laws of any state in the United States. Accordingly, the securities may not be offered, sold or delivered, directly or indirectly, in the United States or to, or on behalf of or for the benefit of, US Persons (as that term is defined in Regulation S of the US Securities Act), unless registered under the US Securities Act and applicable state securities laws or under exemptions from the registration requirements of the US Securities Act and state securities laws applicable. There will be no public offering of securities in the United States. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities of EverGen in the United States or in any jurisdiction in which such an offer, solicitation or sale would be illegal.

No securities regulatory authority has approved or disapproved of the contents of this press release.

About EverGen Infrastructure Corp.

Based in British Columbia, EverGen is focused on tackling climate change and helping communities contribute to a carbon-free future through its strategy of developing a renewable natural gas infrastructure platform, starting on the coast western Canada in British Columbia. Incorporated in 2020, EverGen was created to acquire, develop, build, own and operate a portfolio of renewable natural gas, waste-to-energy and related infrastructure projects. EverGen has acquired three facilities and intends to expand its platform to other regions of North America in the future.

For more information visit: https://www.evergeninfra.com/

Contact

EverGen media contact

Alison gallagher

778-837-5623

[email protected]

Forward-looking statements

The information contained in this press release contains certain forward-looking statements within the meaning of applicable securities laws, which reflect management’s current expectations regarding future events. Words such as “will”, “expects”, “anticipates” and “intends to” or similar expressions are intended to identify forward-looking statements. Forward-looking information contained in this press release includes statements regarding the resumption of trading of the Common Shares on the TSX Venture Exchange and the exercise of the Over-Allotment Option and the amount of additional gross proceeds that may result therefrom. These forward-looking statements are subject to the uncertainties inherent in forecasting future results and are subject to a number of risks and uncertainties, many of which are beyond the control of the Company, which could cause the results and events to be actuals differ significantly from those disclosed. in or implied by this forward-looking information. The Company does not undertake any obligation to update this forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATORY SERVICES PROVIDER (AS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS COMMUNICATION.

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