Los Angeles — Cadiz Inc. [NASDAQ:CDZI] (“Cadiz”) announced today that the Board of Directors of Santa Margarita Water District (“SMWD”), the Lead Agency for the proposed Cadiz Valley Water Conservation, Recovery and Storage Project (“Project”), voted on Friday, May 11, 2012 to approve an agreement with the County of San Bernardino and Cadiz regarding the County’s role in the Project’s groundwater management program. The Memorandum of Understanding (“MOU”) agreement, also approved by San Bernardino County’s Board of Supervisors on May 1, 2012, grants the County full enforcement authority over the Project’s proposed Groundwater Management, Monitoring, and Mitigation Plan (“GMMMP”).
The Company issued a press release on May 2, 2012 describing the MOU and the GMMMP in further detail. To view a copy, visit: http://cadizinc.com/2012/05/02/press-release-cadiz-inc-announces-agreement-for-san-bernardino-county-to-assume-water-project-enforcement-role/
“Cadiz is committed to providing a safe and reliable water supply solution for Southern California,” said Scott Slater, Cadiz Inc. President and General Counsel. “We look forward to working with the County and SMWD to implement a sound management program that will conserve precious groundwater resources without harm to the environment.”
About Cadiz Inc.
Founded in 1983, Cadiz Inc. is a publicly-held renewable resources company that owns 70 square miles of property with significant water resources and clean energy potential in eastern San Bernardino County, California. The Company is engaged in a combination of water supply and storage and organic farming projects. In 2009 Cadiz adopted a wide-ranging “Green Compact” to implement environmental conservation and sustainable management practices at its properties. For more information about Cadiz, visit www.cadizinc.com<http://cadizinc.wpengine.com/>.