NORTHBANK CAPITAL MANAGEMENT, LLC CEASES TO UTILIZE ALTERNATIVE MONTHLY REPORTING SYSTEM IN RESPECT OF EVERGEN INFRASTRUCTURE CORP.

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VANCOUVER, BC, Feb. 18, 2025 /CNW/ - In accordance with applicable Canadian securities laws, Northbank Capital Management, LLC ("Northbank") announced today that it is ceasing to file reports in accordance with the alternative monthly reporting system (the "AMR System") under Part 4 of National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues ("NI 62-103") in respect of EverGen Infrastructure Corp. (the "Issuer").

Northbank, on behalf of the Class IV Fund, LP (the "Fund"), currently is the holder of, and immediately before and immediately after Northbank elected to voluntarily cease filing reports under the AMR System in respect of the Issuer, Northbank was the holder of, 1,900,600 common shares in the capital of the Issuer (the "Common Shares"), representing approximately 13.38% of the issued and outstanding Common Shares, calculated based upon a total of 14,002,000¹ issued and outstanding Common Shares. Northbank has control or direction over such Common Shares but such Common Shares are owned by the Fund, which is managed by Northbank.

The Common Shares are held by Northbank, on behalf of the Fund, for investment purposes. Depending on market and other conditions, Northbank may from time to time in the future increase or decrease its ownership, control or direction over the Common Shares or other securities of the Issuer, through market transactions, private agreements or otherwise. In addition, Northbank may explore potential alternatives regarding its investment in the Common Shares, which exploration of potential alternatives may result in it forming an intention with respect to one or more of the transactions or matters referred to Item 5 of Form 62-103F2 - Required Disclosure by an Eligible Institutional Investor under Section 4.3 ("Form 62-103F2"). In connection with the foregoing, Northbank may (without limitation) engage in communications with the Issuer's management team and board of directors or other shareholders of the Issuer regarding one or more of the transactions or matters referred to in Item 5 of Form 62-103F2 or take actions that may disqualify it from continuing to use the AMR System. 

Contemporaneous with this news release, Northbank has filed a Form 62-103F2 on the Issuer's SEDAR profile which, among other things, amends the information disclosed in the alternative monthly report filed by Northbank on October 2, 2023 in respect of the Issuer.

Northbank is the investment manager of the Fund which may be considered a joint actor for the purposes of NI 62-103. Bradford Seagraves, CFA is the Chief Investment Officer of Northbank and may be deemed to beneficially own such Common Shares and may also be considered a joint actor for the purposes of NI 62-103.

Northbank's head office is located at 128 Saddle Road, Unit 201, Ketchum, ID 83340 United States. For further information please contact Bradford Seagraves at [email protected]. The Issuer's head office is located at 390-1050 Homer St., Vancouver, BC V6B 2W9.

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¹ As at November 30, 2024, as reported by the Issuer in its most recent Management Discussion and Analysis for the three and nine month period ended September 30, 2024.

SOURCE Northbank Capital Management, LLC