Large Image With Sidebar
1868
paged,page-template,page-template-blog-large-image,page-template-blog-large-image-php,page,page-id-1868,page-child,parent-pageid-1815,paged-35,page-paged-35,bridge-core-2.1.7,qode-quick-links-1.0,qode-page-transition-enabled,ajax_fade,page_not_loaded,,side_area_uncovered_from_content,qode-theme-ver-24.6,qode-theme-bridge,qode_header_in_grid,wpb-js-composer js-comp-ver-6.5.0,vc_responsive

Large Image With Sidebar

CADIZ INC. ANNOUNCES COMPREHENSIVE REFINANCING PACKAGE New Financial Structure Positions Balance Sheet for Water Project Construction Financing and Provides $17.5 Million in Working Capital to Fund Operations March 5, 2013 Los Angeles, CA -- Cadiz Inc. (NASDAQ: CDZI) ("Cadiz", "the Company") is pleased to announce that it has entered into an agreement with its senior lenders ("the Lenders") to refinance the Company's existing $66 million corporate term debt that is currently due June 29, 2013. The agreement establishes two separate debt instruments, a $30 million senior secured mortgage loan due in three years and a new $53.5 million convertible bond due in five years. No principal or interest payments are required under either instrument during the term until maturity. The new debt instruments will replace all existing term debt on the Company's balance sheet and provide $17.5 million in new working capital to fund the Company's current operations, including pre-construction activities related to the Cadiz Valley Water Conservation, Recovery and Storage Project (the "Water Project").

Los Angeles CA -- Cadiz Inc. (NASDAQ: CDZI) (“Cadiz”, “the Company”) announced today that it has appointed Company President Scott Slater to the additional role of Chief Executive Officer effective February 1, 2013.  Keith Brackpool, a co-founder of the Company who has served as CEO since 1991, will remain as Chairman of the Board of Directors.  Mr. Brackpool has been a member of the Company’s Board since 1986 and Chairman since 2001.

In exchange trade with Kinder Morgan Cadiz to receive key 96-mile pipeline route for nominal fee; Cadiz also to receive $10 million payment upon Kinder regulatory filing Transaction results in significant financial gain for Company Los Angeles CA (December 11, 2012) -- Today Cadiz Inc. (NASDAQ: CDZI) (“Cadiz”, “the Company”) announced it has entered into a new agreement with Kinder Morgan, Inc. (NYSE: KMI) (“Kinder Morgan”) securing the Company’s ownership of a 96-mile natural gas pipeline linking its holdings in the Cadiz Valley to the northern and central California water delivery network.  The exchange agreement divides 220 miles of pipeline currently under option to the Company, with the Company gaining ownership rights to the 96-mile eastern segment between Barstow and the Cadiz Valley and returning to Kinder Morgan rights to the 124-mile western segment.

By Scott Slater Published in the San Bernardino Sun October 8, 2012 From the time before statehood, water has been recognized as the lifeblood of California's economy. A little more than 80 years ago, the people of this state adopted a constitutional amendment mandating the optimization of efficient water use in California. Since that time, water has remained a critical resource and Article 10, Section 2 of the California Constitution has served to provide the legal and policy underpinnings for responsible water use.

Action Eliminates Federal Court Litigation involving the Company Los Angeles, CA (October 5, 2012) – Cadiz Inc. (NASDAQ:CDZI) (“Cadiz”) reported today that a lawsuit filed in U.S. Federal Court jointly against the Company, the Santa Margarita Water District (“SMWD”), the County of San Bernardino (“County”), the U.S. Department of the Interior (“DOI”) and the U.S. Bureau of Land Management (“BLM”) has been dismissed. The Court determined that Petitioner RiverAHA was unlikely to succeed on the merits. The dismissal now ends the pending Federal Court litigation over the Cadiz Valley Water Conservation, Recovery and Storage Project (“Project”). Legal proceedings challenging the recent Project approvals continue in California State Court.

Action by Board of Supervisors a New Milestone for Project Los Angeles CA (October 2, 2012) -- Cadiz Inc. [NASDAQ: CDZI] (“Cadiz”) reported today that the San Bernardino County Board of Supervisors voted to approve the  Groundwater Management, Monitoring, and Mitigation Plan (“GMMMP”) for the Cadiz Valley Water Conservation, Recovery and Storage Project (“Project”). This represents another significant milestone for the Project, which will provide an annual reliable water supply to Southern California communities by capturing and conserving native groundwater currently being lost to evaporation from the aquifer system beneath the Company’s property in eastern San Bernardino County’s Cadiz Valley.  The County’s action authorizes the Project to withdraw an average of 50,000 acre-feet of water per year.