EverGen Infrastructure Corp. Secures TSXV Approval for Property Sale and Advances Financing Initiatives

EverGen Infrastructure Corp. ( (TSE:EVGN) ) just unveiled an update.

EverGen Infrastructure Corp. has received final approval from the TSX Venture Exchange for the sale of a property in Abbotsford, B.C., to 2065947 Alberta Ltd. and James Betts for $2.62 million. The transaction involves a related party, as James Betts is the company’s COO, and includes a leaseback agreement for part of the property. Additionally, EverGen is progressing with a share purchase and reorganization agreement with Ask America, LLC, and a private placement aiming to raise CAD$7 million, pending final TSXV approval.

The most recent analyst rating on (TSE:EVGN) stock is a Hold with a C$3.00 price target. To see the full list of analyst forecasts on EverGen Infrastructure Corp. stock, see the TSE:EVGN Stock Forecast page.

Spark’s Take on TSE:EVGN Stock

According to Spark, TipRanks’ AI Analyst, TSE:EVGN is a Neutral.

EverGen Infrastructure Corp. is experiencing robust revenue growth and strategic advancements, yet faces profitability challenges with negative margins and high valuation concerns due to its negative P/E ratio. Technical analysis shows a bearish trend but potential for recovery, while the earnings call highlighted positive developments and future growth opportunities.

To see Spark’s full report on TSE:EVGN stock, click here.

More about EverGen Infrastructure Corp.

EverGen Infrastructure Corp. is a Canadian company focused on renewable energy, specializing in Renewable Natural Gas (RNG) infrastructure. The company acquires, develops, builds, owns, and operates a portfolio of RNG, waste-to-energy, and related infrastructure projects, primarily in Canada, with plans for expansion across North America and beyond.

Average Trading Volume: 10,246

Technical Sentiment Signal: Sell

Current Market Cap: C$6.33M

For detailed information about EVGN stock, go to TipRanks’ Stock Analysis page.