Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities Laws. VANCOUVER, British Columbia, April 23, 2025 (GLOBE NEWSWIRE) -- EverGen Infrastructure Corp. (“EverGen” or the “Company”) (TSXV: EVGN) is pleased to announce that it has entered into a share purchase and reorganization agreement (the “Agreement”) on April 22, 2025, with Ask America, LLC (the “Purchaser”), an arm’s length lim ...

Financial Performance and Market Conditions - The appreciation of the NIS against the U.S. dollar was (0.6%), (3.1%), and (13.2%) for the years ended December 31, 2024, 2023, and 2022, respectively, which may negatively affect financial results [154]. - The Israeli annual rate of inflation was 5.3%, 3.0%, and 3.2% for the years ended December 31, 2022, 2023, and 2024, respectively [154]. - The market price of the company's ordinary shares has declined since the reverse split, affecting total market capitalization [171]. Grants and Royalties - The company received approximately $9.4 million in royalty-bearing grants from the Israeli Innovation Authority, with a repayment of approximately $3.9 million in royalties [158]. - The company is committed to pay royalties at a rate of 3.0% - 4.0% on sales proceeds from products developed under IIA programs [157]. Nasdaq Compliance and Corporate Governance - On October 31, 2022, the company received a notification from Nasdaq for non-compliance with the minimum bid price requirement of $1.00 per share [166]. - The company was granted an additional 180-day grace period until October 30, 2023, to regain compliance with Nasdaq listing requirements [167]. - A reverse share split of 1-for-10 was executed on July 24, 2024, to temporarily regain compliance with Nasdaq listing standards [169]. - Being a public company in both the U.S. and Israel may strain resources and distract management, increasing legal and financial compliance costs [175]. - The company follows Israeli corporate governance practices instead of Nasdaq requirements, potentially providing less protection to investors [178]. - Loss of foreign private issuer status could significantly increase compliance costs and regulatory burdens [179]. Legal and Regulatory Challenges - The company may face challenges in transferring know-how and manufacturing rights outside of Israel due to restrictions from IIA grants [158]. - The company may encounter difficulties in enforcing U.S. judgments in Israel or asserting U.S. securities law claims due to its incorporation in Israel [159]. - The company currently utilizes U.S. reporting standards but may face increased compliance costs if parallel reporting obligations in Israel and the U.S. are imposed [174]. - The company incurs significant accounting, legal, and other expenses related to reporting requirements under the Exchange Act and Sarbanes-Oxley Act, which may divert management's attention from business operations [176]. - As a foreign private issuer, the company is exempt from certain U.S. regulations, which may reduce the frequency and scope of information available to investors [177]. Tax Implications - U.S. shareholders owning at least 10% of the company's ordinary shares may face adverse federal income tax consequences [180]. - The company believes it was not a Passive Foreign Investment Company (PFIC) for 2024, but there is a risk of being classified as such in 2025, which could lead to adverse tax consequences for U.S. shareholders [182]. Internal Control and Reporting - Failure to maintain effective internal control over financial reporting could adversely affect the price of the company's ordinary shares [184].

Financial Data and Key Metrics Changes - Total revenues for 2024 reached approximately $8.5 million, an increase from approximately $5.6 million in 2023, primarily driven by AgPlenus revenues from collaboration with Bayer and increased Casterra seed sales [14][56] - Q4 2024 total revenues were approximately $1.6 million, compared to $0.6 million in Q4 2023, mainly due to increased Casterra seed sales [15][56] - Total R&D expenses for 2024 were approximately $16.6 million, down from $20.8 million in 2023, with Q4 2024 R&D expenses at approximately $3.4 million, down from $5.5 million in Q4 2023 [16][57] - General and administrative expenses for 2024 increased to approximately $7.4 million from $6.1 million in 2023, influenced by one-time expenses related to fundraising [18][59] - The net loss for 2024 was approximately $18.1 million, a decrease from $26 million in 2023, with Q4 2024 net loss at approximately $5,000, down from $7.3 million in Q4 2023 [61][62] Business Line Data and Key Metrics Changes - Casterra delivered approximately 215 tons of castor seeds in 2024, with only 76 tons delivered in Q4 2024, but 250 tons delivered in February 2025 alone, indicating a resolution of previous production bottlenecks [15][20] - Lavie Bio signed a new collaboration agreement with Syngenta in February 2024 and reported advancements in biostimulants and bio fungicides throughout 2024 [23][24] - AgPlenus signed a collaboration agreement with Bayer in February 2024 and achieved milestones with Corteva for novel herbicides [25][26] Market Data and Key Metrics Changes - Casterra is focusing on expanding its seed production in Africa and Brazil, with significant demand for castor grain in both markets [21][70] - The company is exploring new commercial opportunities in the castor oil industry, leveraging its unique seed varieties and advanced growth protocols [48][49] Company Strategy and Development Direction - The company aims to position itself as a leader in life science product development, integrating advanced computational technologies with life sciences [28][30] - A targeted business strategy is in place to maximize potential while minimizing risk through collaborative partnerships for product development [32][34] - The focus for 2025 includes enhancing ChemPass AI for drug discovery and creating exit events for subsidiaries to inject funds into the company [35][36] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's potential to unlock significant value through its subsidiaries and advanced computational capabilities [11][12] - The company is committed to a capital-efficient model and anticipates achieving strategic goals in 2025 [12][34] Other Important Information - The company established an expense reduction plan expected to reduce expenses by approximately 30% by Q1 2025 [17] - The company is currently in discussions for potential collaborations and partnerships in the drug discovery space [43][46] Q&A Session Summary Question: Expected cash burn for 2025 - Expected cash burn for 2025 is projected to be between $6 million to $7 million, excluding cash from potential subsidiary sales [64] Question: Status of exit efforts for subsidiaries - Exit efforts are being prioritized, but specific details cannot be disclosed at this time [66][68] Question: Initial sales expectations in Brazil for Casterra - Initial sales in Brazil are expected to come from both seed and grain sales, with a focus on seed sales in 2025 [69][72] Question: Base case sales goal for Yalos in spring wheat and soybeans - Specific sales goals were not disclosed, but there is growing interest in Yalos for soybean growers due to higher margins [73][75] Question: Magnitude of castor sales in 2025 - Q1 2025 is expected to be a strong quarter for Casterra, with 250 tons already delivered, but not necessarily the largest quarter for the year [76][79] Question: Structure of potential joint venture for oil production - The company is currently responsible for seed production and cultivation, with plans to sell grain under offtake agreements, while not taking on responsibilities for oil production in 2025 [83][85] Question: Expense levels for 2025 - Expense levels in Q4 2024 are expected to reflect similar levels in 2025, with potential further declines anticipated [87][90]

Core Insights - Evogene Ltd. reported financial results for Q4 and full year 2024, highlighting significant revenue growth and a strategic focus on AI-powered drug discovery and subsidiary exit events [2][3][4]. Financial Performance - Total revenues for 2024 reached approximately $8.5 million, up from $5.6 million in 2023, driven by AgPlenus' collaboration with Bayer and increased seed sales from Casterra [4][11]. - Q4 2024 revenues were approximately $1.6 million, compared to $0.6 million in Q4 2023, primarily due to increased Casterra seed sales [4][11]. - R&D expenses for 2024 were approximately $16.6 million, down from $20.8 million in 2023, reflecting reduced activities in several subsidiaries [4][12]. - General and administrative expenses increased to approximately $7.4 million in 2024 from $6.1 million in 2023, influenced by one-time fundraising costs [4][16]. - The net loss for 2024 was approximately $18.1 million, a decrease from $26.0 million in 2023, attributed to higher revenues and lower R&D expenses [20]. Strategic Focus - The company plans to enhance its ChemPass AI tech-engine for drug discovery and expects to announce collaborations with biotech firms and academic institutions [3]. - Evogene aims to create exit events for its subsidiaries to inject funds into its operations, with a focus on strengthening Casterra's market position [3][5]. - The company has initiated an expense reduction plan, targeting a 30% reduction in headcount by the end of Q1 2025 [4][10]. Subsidiary Developments - Casterra Ag Ltd. is focused on large-scale castor bean farming solutions using GeneRator AI [6]. - Lavie Bio Ltd. develops microbiome-based bio-stimulants and bio-pesticides powered by MicroBoost AI [7]. - AgPlenus Ltd. specializes in sustainable crop protection products utilizing ChemPass AI [8]. - Biomica Ltd. is advancing microbiome-based therapeutics powered by MicroBoost AI [9]. Cash Position - As of December 31, 2024, Evogene held approximately $15.3 million in cash and equivalents, with cash usage in Q4 2024 at approximately $4.6 million [10][27].

Core Insights - Evogene Ltd. has appointed Mr. Nir Nimrodi as the new Chairperson of the Board, succeeding Ms. Sarit Firon, who will remain a Board member [1][2] - Mr. Nimrodi's extensive experience in scaling life sciences businesses positions him well to guide Evogene through its next growth phase [2][3] - The company aims to leverage advanced computational capabilities and AI to enhance drug discovery processes and create significant value for shareholders [3] Company Overview - Evogene Ltd. is a computational biology company focused on revolutionizing life-science product development through big data and artificial intelligence [4] - The company has established three unique tech-engines: MicroBoost AI, ChemPass AI, and GeneRator AI, each targeting different core components for product development [5] Subsidiaries and Focus Areas - Evogene operates four subsidiaries: 1. Casterra Ag Ltd. focuses on high-yield castor seed varieties for biofuel and other industries [6] 2. Lavie Bio Ltd. develops microbiome-based ag-biologicals [6] 3. AgPlenus Ltd. works on next-generation ag chemicals for sustainable crop protection [6] 4. Biomica Ltd. is advancing microbiome-based therapeutics for human disorders [6]

Zoom conference call scheduled for March 6, 2025, 9:00 AM ET REHOVOT, Israel, Feb. 20, 2025 /PRNewswire/ -- Evogene Ltd. (Nasdaq: EVGN) (TASE: EVGN), a leading computational biology company targeting to revolutionize life-science product discovery and development, announced today that it will release its financial results for the fourth quarter of 2024, on Thursday, March 6, 2025. Later that day, Company management will host a conference call to discuss the results at 9:00 AM Eastern Time (4:00 PM Israel ti ...

Industry Insights - Zymoseptoria tritici is a significant cause of wheat crop loss globally, with over 70% of fungicides in Europe targeting this fungus, representing a market exceeding 1.2 billion euros annually [1] - The increasing resistance of fungi to existing fungicides highlights the urgent need for new modes of action (MoA) in crop protection [1] Company Developments - AgPlenus has initiated a Zymoseptoria program using the TargetSelector™ tool to identify essential target proteins for the fungus, followed by the PointHit™ tool to discover chemical inhibitors [2] - Preliminary results from greenhouse trials indicate the efficacy of the identified molecules in managing Zymoseptoria, prompting the program to advance to the optimization phase using the ActiveSearch™ tool [3] - Dr. Dan Gelvan, CEO of AgPlenus, expressed optimism regarding the program's progress and the timely identification of novel targets amid rising fungicide resistance [4] - AgPlenus aims to develop innovative and sustainable crop protection solutions, leveraging predictive biology and artificial intelligence through its ChemPass AI tech-engine [5] Parent Company Overview - Evogene Ltd. is a computational biology company focused on life-science product development, utilizing advanced technologies to enhance success rates while reducing costs [6] - Evogene operates three tech-engines: MicroBoost AI, ChemPass AI, and GeneRator AI, each targeting different components for product discovery [6] - The company collaborates with various subsidiaries to develop products across multiple sectors, including ag-biologicals and ag-chemicals [7]

Financial Data and Key Metrics Changes - Total revenues for the first nine months of 2024 reached approximately $6.9 million, up from approximately $5.1 million in the same period of 2023 [11] - Q3 2024 total revenues were approximately $1.8 million, down from approximately $3.8 million in Q3 2023, primarily due to a $2.5 million license fee payment received in Q3 2023 [11][46] - Operating loss for the first nine months of 2024 was approximately $17.6 million, a decrease from approximately $18.9 million in the same period of 2023 [12][52] - Net loss for the first nine months of 2024 was approximately $18 million, compared to approximately $18.6 million in the same period of the previous year [54] Business Line Data and Key Metrics Changes - Casterra's revenues increased due to seed sales, with significant milestones achieved in seed production infrastructure in Kenya and Brazil [17][34] - Lavie Bio launched its first commercial product, Yalos, with initial sales in winter wheat and expected sales in soybean by spring 2025 [19][36] - AgPlenus initiated a new fungicide program targeting Septoria, with three protein targets confirmed and around 1,000 compounds identified for testing [21][40] Market Data and Key Metrics Changes - Casterra is positioned as a primary seed supplier in Africa, with discussions ongoing for future seed orders for 2025 [18][78] - Lavie Bio's expansion into soybean markets is expected to significantly increase sales potential, as soybean is a prime crop for bio-stimulants [73] Company Strategy and Development Direction - The company aims to position itself as a leader in developing life science products through advanced computational technologies and AI [22][23] - Strategic partnerships are being established to co-develop innovative products, enhancing revenue-sharing mechanisms [28][30] - The collaboration with Google Cloud aims to develop a generative AI model for small molecule design, expanding the training set from 6 million to 40 billion molecules [24][25] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for continued revenue growth in 2024, primarily driven by Casterra's seed supply [12][46] - The company is exploring additional business opportunities and has taken measures to strengthen its cash position, including a reduction in headcount [14][66] - Management highlighted the importance of resolving seed production issues in Africa to secure future orders and maintain competitive advantage [60][78] Other Important Information - The company completed a fundraising of $5.5 million in August 2024, which is expected to support ongoing operations [14] - Cash usage for 2024 is projected to be approximately $8 million to $10 million, a decrease from $12.5 million in 2023 [13][45] Q&A Session Summary Question: Why did the expected follow-on order for 2025 deliveries at Casterra not materialize? - Management indicated that internal discussions among partners are ongoing, which has delayed the final decision [56] Question: Have Casterra's delayed deliveries compromised its ability to secure a follow-on order? - Management reported that seed production issues have been resolved, and partners are satisfied with the current performance [60] Question: Is Evogene contributing any cash to the collaborations with Google and Ben-Gurion University? - Management confirmed that expenses for the collaboration with Ben-Gurion University are covered by a grant, while costs for the Google collaboration are part of the existing budget [63] Question: What is the current cash position at the parent company level? - As of September 30, 2024, the company had approximately $20 million in cash, with additional seed deliveries expected to enhance cash flow [66] Question: What are the sales expectations for Yalos in two years? - Management expressed optimism for significant sales growth, particularly in the soybean market, which is expected to contribute materially to revenues [73][76] Question: How should Casterra revenues be viewed in 2025? - Management indicated that 2025 is expected to show better performance than 2024, with resolved seed production issues enhancing capacity [78] Question: What is the current level of insider ownership in the company? - Management stated that a significant portion of compensation is based on equity, aligning management interests with those of shareholders [80]

Financial Performance - Total revenues for the first nine months of 2024 were approximately $6.9 million, an increase of 35.3% from approximately $5.1 million in the same period of 2023[11]. - Revenues for Q3 2024 were approximately $1.8 million, a decrease of 52.6% compared to approximately $3.8 million in Q3 2023, primarily due to a $2.5 million licensing fee recognized in Q3 2023[5]. - The net loss for the first nine months of 2024 was approximately $18.0 million, a slight improvement from a net loss of approximately $18.6 million in the same period of the previous year[60]. - The net loss for the third quarter of 2024 was approximately $8.2 million, compared to approximately $3.9 million in the same period of the previous year, indicating a $4.3 million increase in net loss due to decreased revenues and increased expenses[60]. - Gross profit for the nine months ended September 30, 2024, was $4,972,000, compared to $3,768,000 in the same period of 2023, indicating a gross profit margin improvement[78]. - The basic and diluted loss per share attributable to equity holders of the company for the nine months ended September 30, 2024, was $(3.17), compared to $(3.91) for the same period in 2023[78]. Expenses and Liabilities - General and administrative expenses for the first nine months of 2024 increased to approximately $6.1 million from approximately $4.8 million in the same period of 2023[30]. - Financing expenses, net for the first nine months of 2024 were approximately $0.38 million, compared to financing income of approximately $0.23 million in the same period of 2023[35]. - Operating loss for the first nine months of 2024 was approximately $17.6 million, a decrease from approximately $18.9 million in the same period of 2023[55]. - Research and development expenses for the first nine months of 2024 were approximately $13.2 million, a decrease from approximately $15.2 million in the same period of 2023[54]. - The total liabilities increased significantly to $23.3 million as of September 30, 2024, compared to $6.9 million at the end of 2023[66]. - The company incurred transaction costs and financial expenses of approximately $1.5 million related to warrants issued in a recent transaction[60]. Cash Flow and Assets - Cash usage during Q3 2024 was approximately $5.7 million, with projected cash usage for 2024 expected to be approximately $8.0 - $10.0 million, a decrease of 20% - 36% from approximately $12.5 million in 2023[53]. - Cash and cash equivalents decreased to $11.3 million as of September 30, 2024, down from $20.8 million at the end of 2023[66]. - Total current assets decreased to $25.4 million as of September 30, 2024, compared to $34.5 million at the end of 2023[66]. - The company reported cash used in operating activities of $14.5 million for the nine months ended September 30, 2024, compared to $15.7 million for the same period in 2023[68]. - The company reported a net cash provided by financing activities of $4,216,000 for the nine months ended September 30, 2024, compared to $18,299,000 in the same period of 2023[81]. Future Outlook and Strategic Initiatives - The company anticipates continued revenue growth in Q4 2024, mainly based on Casterra's forecast for seed-order supply[29]. - The company anticipates continued revenue growth for 2024, supported by ongoing investments in novel products and applications[74]. - The integration with Google Cloud is expected to enhance the company's capabilities and value proposition in the market[74]. - The company is focusing on enhancing its AI tech-engines and expanding its collaboration with Google Cloud to develop a generative AI foundation model for small molecule design[15]. - Evogene has established three tech-engines: MicroBoost AI, ChemPass AI, and GeneRator AI, focusing on product development in microbiomes, small molecules, and genetic elements respectively[70]. - The company is advancing its subsidiaries, including Lavie Bio and Casterra Ag, to develop microbiome-based ag-biologicals and superior castor seed varieties[62]. Fundraising Activities - The company completed a fundraising totaling $5.5 million in gross proceeds in August 2024[7].

Conference call and webcast: today, November 21, 2024, 9:00 am ETFinancial Highlights: In the first nine months of 2024, total revenues reached approximately $6.9 million, compared to approximately $5.1 million in the first nine months of 2023. In Q3 2024, total revenues reached approximately $1.8 million, compared to approximately $3.8 million in Q3 2023. The revenues in Q3 2024 are mainly based on Casterra's seed sales. The revenues in Q3 2023 included a license fee payment of $2.5 million received by Lav ...