- EverGen has initiated a share buyback program, or normal-course issuer bid as it is called in Canada
- The Company is allowed to repurchase 668,370 shares of its common stock, representing ~5% of the total shares issued and outstanding. The shares will be retired.
- With an established RNG footprint in Western Canada, EverGen entered the Eastern markets in May with an agreement to acquire 50% of Project Radius
In the U.S., it’s called a share repurchase plan. In Canada, it’s a normal-course issuer bid (“NCIB”). Whatever the name, a company buying back shares in the open market and retiring them is good for shareholders because fewer shares available make those outstanding more valuable. Earlier this month, EverGen Infrastructure (TSX.V: EVGN) (OTCQB: EVGIF) launched an NCIB undergirded by management’s contention that, “from time to time, the market price of the common shares may not fully reflect the underlying value of the company’s business and its future prospects.”
EverGen is focused on fighting climate change and helping communities contribute to a sustainable future by acquiring, developing, owning, and operating a portfolio of Renewable Natural Gas (“RNG”), waste-to-energy, and related infrastructure projects. RNG is pipeline-quality gas derived from…
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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