Fraser Valley Biogas Ltd. sells land for $2.62 million

EverGen Infrastructure Corp. has announced that its subsidiary, Fraser Valley Biogas Ltd., has sold property related to its biogas project. The sale was made through a purchase agreement with 2065947 Alberta Ltd. and James Betts for $2.62 million. As part of the deal, the buyers paid $1.75 million upfront. The remaining $870,000 is to be paid later. Fraser Valley Biogas will lease back the section of the property used for the biogas project. James Betts is a key executive within EverGen, making this transaction a related party deal. The company will take advantage of exemptions from valuation and minority shareholder approval rules due to the nature of the transaction. EverGen is focused on renewable energy and infrastructure projects in Canada, aiming to combat climate change. The company is expanding its operations into other areas in North America.