EVGN Evergen Infrastructure Corp

EverGen Infrastructure Corp. (“EverGen” or the “Company”) is pleased to announce that it has successfully completed its previously announced initial public offering (the “Offering”) of 3,080,000 units (the “Offered Units”) of the Company at a price of $6.50 per Offered Unit (the “Offering Price”), for aggregate gross proceeds of $20,020,000 (the “Offering”).

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

The Offering was conducted 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 underwriters and joint bookrunners (the “Co-Lead Underwriters”) for the Offering, together with Haywood Securities Inc. and PI Financial Corp. (collectively with the Co-Lead Underwriters, the “Underwriters”).

Each Offered Unit consisted of one common share of the Company and one-half of one common share purchase warrant. Each whole common share purchase warrant entitles the holder thereof 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 with an over-allotment option to purchase up to an additional 462,000 Offered Units at the Offering Price, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the closing of the Offering (the “Closing Date”). If the over-allotment option is exercised in full, additional gross proceeds of $3,003,000 will be raised.

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 (BC’s original renewable natural gas facility directly connected into the North American natural gas infrastructure network). The Offering will allow EverGen to continue expanding its infrastructure network.

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

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

About EverGen Infrastructure Corp.

Based in British Columbia, EverGen is focused on combating climate change and helping communities contribute to a carbon-free future through its strategy to develop a Renewable Natural Gas Infrastructure Platform, starting on the West Coast of Canada in British Columbia. Incorporated in 2020, EverGen has been established 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 has the intention to grow its platform into other regions in North America in the future.

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

Contact

EverGen Media ContactAlison Gallagher778-837-5623alison@talkshopmedia.com

Forward-Looking Statements

The information in this news release contains certain forward-looking statements within the meaning of applicable securities legislation, which reflect management's current expectations regarding future events. Words such as “will”, “expects”, “anticipates” and “intends” or similar expressions are intended to identify forward-looking statements. Forward-looking information in this news release includes, statements regarding the resumption of trading of the common shares on the TSX-V and the exercise of the Over-Allotment Option and the amount of additional gross proceeds potentially arising therefrom. These forward-looking statements are subject to the inherent uncertainties in predicting future results and are subject to a number of risks and uncertainties, many of which are beyond the Company's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. The Company does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.