EverGen (TSX.V: EVGN) (OTCQX: EVGIF), Canada’s renewable natural gas (“RNG”) infrastructure platform, is reporting on the financial results and corporate milestones for its Q1 2023, or the period ending March 31, 2023. Financial highlights from the report include an 18% increase in revenue, from C$1.4 million in Q1 20 22 to C$1.7 million; cash and cash equivalents totaling C$5.8 million; net loss of C$1 million for the quarter; and Adjusted EBITDA of $0.02 million, a decrease from C$0.6 million in Q1 2022. Corporate milestones from the report include the completion of phase 1 of the company’s strategic GrowTEC RNG expansion; the execution of multiple organic waste-processing contracts by Sea to Sky Soils, a wholly owned subsidiary of EverGen; the settlement of outstanding flood-related insurance claims and the receipt of C$1.6 million of proceeds; and the execution of a definitive agreement for a C$31 million senior term loan facility with Roynat Capital and Export Development Canada. EverGen will host a webinar today at 10 a.m. ET today. During the webinar, EverGen CEO Chase Edgelow will discuss the company’s results as well as provide a corporate update. “It is a transformative time for EverGen as we continue to progress on our core RNG expansion and development projects and expansion across Canada,” said EverGen CEO Chase Edgelow in the press release. “[Last year] set a strong foundation for the company’s success in 2023. We are thrilled with the progress of our core RNG expansion projects and increased volumes of feedstock at our organic waste and composting facilities.”
To view the webinar, visit https://ibn.fm/oVOqB
To view the full press release, visit https://ibn.fm/wQWJj
About EverGen Infrastructure Corp.
EverGen, Canada’s renewable natural gas infrastructure platform, is combating climate change and helping communities contribute to a sustainable future. Headquartered on the West Coast of Canada, EverGen is an established independent renewable energy producer that acquires, develops, builds, owns and operates a portfolio of renewable natural gas, waste-to-energy and related infrastructure projects. EverGen is focused on Canada, with continued growth expected across other regions in North America and beyond. For more information about EverGen and its products, visit www.EverGenInfra.com.
NOTE TO INVESTORS: The latest news and updates relating to EVGIF are available in the company’s newsroom at https://ibn.fm/EVGIF
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