EverGen Infrastructure Corp. (TSX.V: EVGN) (OTCQB: EVGIF) Buying 50% of Project Radius and Up to 5 Percent of Its Own Stock
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…