Cadiz Inc. (NASDAQ: CDZI) is pleased to announce that the Santa
Margarita Water District (“SMWD”) Board of Directors voted unanimously
to certify the Final Environmental Impact Report ("Final EIR") for the
Cadiz Inc. (NASDAQ: CDZI) is pleased to announce that the Santa Margarita Water District (“SMWD”) Board of Directors voted unanimously to certify the Final Environmental Impact Report ("Final EIR") for the Cadiz Valley Water Conservation, Recovery and Storage Project (“Project”) and approve the Project’s Groundwater Management, Monitoring and Mitigation Plan (“GMMMP”) and Purchase and Sale Agreement, which outlines terms for their participation in the Project. These actions follow a nearly 18-month environmental review and represent significant milestones for the Project. “We are very grateful for the SMWD Board’s decision tonight and their leadership in this process,” said Scott Slater, President and General Council of Cadiz. “We also want to thank the South Orange County and Hi-Desert communities for their support and participation in public comment. As a longtime desert business, we are committed to the protection of desert resources and implementing a safe and sustainable project. We look forward to working with our neighbors as we enter the next phase of the Project and further develop our legacy commitments to the area, including land conservation easements, habitat protection and a steam train and cultural center." The Cadiz Project will provide a new, reliable water supply for approximately 100,000 Southern California homes by capturing and conserving groundwater that will otherwise be lost to evaporation from a vast aquifer system beneath our private property owned in California’s Mojave Desert. In its first phase, the Project will deliver up to an average of 50,000 acre-feet per year to Southern California water providers, including SMWD. The Arizona & California Railroad Company, which owns and operates the railroad right-of-way to be used by the Project’s water conveyance pipeline to the Colorado River Aqueduct, is also a Project participant. The ARZC will receive water from the Project to meet critical railroad purposes, including fire suppression. To safeguard the environment, the Project includes an extensive monitoring and mitigation program that will be independently enforced by the County of San Bernardino and SMWD. All Project facilities, including a wellfield and the conveyance pipeline, will be built on private land and avoid any critical habitat.