We have complied with all federal law and policy regarding the use of railroad routes, and we believe without question the Project is within the scope of the right-of-way under all currently applicable laws. In 2009 the Department of the Interior stated that our proposed use of the ARZC right-of-way for a water conveyance pipeline was within the right-of-way’s scope and since that time, the Project and the pipeline have been reviewed, approved, and upheld under California environmental laws - the toughest in the nation. “We are extremely disappointed to learn of BLM’s apparent lack of fundamental fairness in its evaluation of our project. The Company issued the following statement following the Wall Street Journal editorial: The Company received the emails following a request for information from the BLM filed under the Freedom of Information Act. Bureau of Land Management (“BLM”) and third parties regarding BLM’s review of the Cadiz Water Project. (NASDAQ:CDZI) (“Cadiz”, the “Company”) reported today that the Wall Street Journal published an editorial on the content of email exchanges, previously disclosed by the Company on August 8, 2016, between the U.S. 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.LOS ANGELES, Aug. 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. įORWARD 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. (NASDAQ: CDZI) is a California water solutions company dedicated to providing access to clean, reliable and affordable water for people through a variety of innovative water supply, storage, conveyance and treatment projects. "We are happy to be able to contribute to solutions for communities affected by these systemic changes."įounded in 1983, Cadiz Inc. "Despite recent rains, the Colorado River system remains under pressure with long-term projections of shortage that will alter reliable deliveries to all of Southern California" said Scott Slater, Cadiz CEO. In late March, the Salton Sea Authority Board of Directors voted to approve a four-party contract with Cadiz, the Coachella Valley Water District ("CVWD") and the Torres Martinez Desert Cahuilla Indians securing 5,000 acre-feet per year of water supply from Cadiz to support restoration of the Salton Sea and health, safety, and economic development on Tribal lands and in disadvantaged communities in eastern Coachella Valley, once the Project pipelines are operational. In February, CVWD also approved the contract. The project also offers one million acre-feet of storage capacity for imported surplus water in wet years. In 2012, the County also approved permits for the Cadiz Water Conservation and Storage Project that authorizes conservation of 50,000 acre-feet per year for beneficial supply uses in communities in Southern California. The Cadiz wellfield at the Ranch captures groundwater that would otherwise be lost to evaporation from the base of a significant Mojave Desert watershed for agricultural irrigation. The Cadiz Ranch farming operation follows a sustainable groundwater management plan that has been administered by the County of San Bernardino since 1993. "Our wellfield and infrastructure will provide both reliable new supply during extreme drought periods and underground storage during extreme wet periods." "Our mission is to deliver clean, reliable and affordable water to people," said Susan Kennedy, Executive Chair of Cadiz. Clean Water Solutions Logo (PRNewsfoto/Cadiz Inc.)
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