Cadiz Inc. Announces Ruling In California Environmental Quality Act
Litigation Against Water Project
Court Upholds Environmental Impact Report Supporting Project Approvals
LOS ANGELES -- May 2, 2014
Today, Cadiz Inc. (NASDAQ:CDZI) (“Cadiz”, the “Company”) announced the
issuance of the trial court decision to uphold the environmental approvals of
the Cadiz Valley Water Conservation, Recovery and Storage Project (“Cadiz
Project”). The Orange County Superior Court ruling denied all 6 petitions
challenging the Project’s environmental review and upheld the actions of the
Santa Margarita Water District and the County of San Bernardino in approving
the Project, the environmental impact report and groundwater management plan.
The ruling comes after exhaustive briefing and lengthy hearings that spanned
over 3 months.
“Cadiz is grateful for the thorough and deliberate review by the trial court
and the Court’s validation of the environmental review conducted for the Water
Project,” said Cadiz CEO Scott Slater.“We will provide further updates
Founded in 1983, Cadiz Inc. is a publicly-held renewable resources company
that owns 70 square miles of property with significant water resources in
Southern California. The Company is engaged in a combination of organic
farming and water supply and storage projects at its properties and abides by
a wide-ranging “Green Compact” focused on environmental conservation and
sustainable practices to manage its land, water and agricultural resources.
For more information about Cadiz, visit http://www.cadizinc.com/.
FORWARD LOOKING STATEMENT: This release contains forward-looking statements
that are subject to significant risks and uncertainties, including statements
related to the future operating and financial performance of the Company and
the financing activities of the Company. Although the Company believes that
the expectations reflected in our forward-looking statements are reasonable,
it can give no assurance that such expectations will prove to be correct.
Factors that could cause actual results or events to differ materially from
those reflected in the Company’s forward-looking statements include the
Company’s ability to maximize value for Cadiz land and water resources, the
Company’s ability to obtain new financing as needed, the receipt of additional
permits for the water project and other factors and considerations detailed in
the Company’s Securities and Exchange Commission filings.
Courtney Degener, 213-271-1600
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