Company's Critical Inflection Point Under
Susan Kennedy's New Leadership Drives Expansion of Investor
Communications
Recent Form 4 Filing Disclosed CEO's
Purchase of Shares of CDZI to Align with Shareholders
LOS
ANGELES, May 9, 2024 /PRNewswire/ -- Cadiz, Inc.
(NASDAQ: CDZI,CDZIP) ("Cadiz" or the "Company"), a California water solutions company, has
engaged international investor relations specialists MZ Group
("MZ") to lead a comprehensive strategic investor relations and
financial communications program across all key markets at a
pivotal inflection point for the Company. Several key developments
over the last six months demonstrate this inflection point
including critical permitting and contracting milestones in the
development of water and infrastructure assets.
MZ Group will work closely with Cadiz management to develop and
implement a capital markets strategy designed to increase the
Company's visibility throughout the investment community.
Susan Kennedy, Chairman and Chief
Executive Officer of Cadiz, stated, "The decision to move forward
with an external IR partner is strategically tied to the current
inflection point within our Company. Cadiz is a totally different
company today as compared to 20 years ago when Cadiz was one big
water project looking for one big public agency customer. Today,
with climate change wreaking havoc on water supplies around the
world, and our acquisitions of pipeline assets and treatment
technology in addition to our water supply and storage assets –
Cadiz has some of the most valuable water assets in the US and
we're in position to monetize them. Cadiz is an asset-rich
company with exactly the right combination of water supply,
infrastructure and technologies to address water access issues on a
large scale."
Ms. Kennedy continued, "Cadiz's core asset is the aquifer system
that sits under our land with 30 to 50 million acre-feet of water
already in storage and a pipeline network that stretches across
hundreds of miles in Southern
California. Cadiz is positioned to operate one of the
largest water banks in the world in a region of the world that
desperately needs water security, and I am fully committed to
ensuring the Company generates long-term revenue streams in all
elements of our business."
MZ has developed a distinguished reputation as a premier
resource for institutional investors, brokers, analysts, and
private investors and maintains offices worldwide. Shannon Devine, Partner at MZ North America, and
Rory Rumore, Director, will advise
the Cadiz team in all facets of investor relations.
Shannon Devine commented, "The
trajectory of Cadiz is remarkable. Once a single water project to
today, a water solutions Company, Cadiz is strategically positioned
to serve a mission critical need for the people of California and the Southwestern United States. This positioning
includes two decades of regulatory hurdles behind the Company and
recent acquisitions that enable the full solution.
Specifically, the acquisition of 220-miles of pipeline, previously
allocated as gas pipelines that Cadiz converted to transport water
– which to our knowledge is the first ever in the world to do so,
enables the delivery of water. Rounding out the Cadiz
solution was the 2022 acquisition of ATEC Water Systems. It's a new
era for Cadiz, led by Chairman and CEO, Susan Kennedy, who's distinguished career
includes two decades serving at the highest levels of California government, including as chief of
staff to Governor Arnold
Schwarzenegger and cabinet secretary to Governor
Gray Davis. We could not be
more excited to work with Susan and the team during this pivotal
time. Her commitment to Cadiz and her vision for the Company is
further evident in her recent share purchase. As a
shareholder herself, it's refreshing to work with a leader who
understands how important it is to be aligned with
shareholders."
Rory Rumore added, "Cadiz has
developed robust assets and capabilities to address the water
crisis in California and beyond
including its dynamic aquifer system and an extensive pipeline
network. Cadiz offers a differentiated storage as a solution
package combining its various resources inclusive of the Company's
ownership of significant land and water rights, expansive
groundwater storage capacity and a Southern California pipeline infrastructure to
connect the supply, storage and transfer capabilities. Ultimately,
we believe Cadiz will be the largest water bank in the Southwestern
U.S. Cadiz represents a unique business with a wide moat given its
position as the incumbent of water storage as a solution
representing a clear value proposition with scale opportunity."
Courtney Degener, Cadiz Sr. Vice
President of Investor Relations and Communications, said, "We
welcome the strategic counsel from the MZ team as we make broader
connections in the market at this important time for the
Company. MZ's extensive experience and far reach will ensure
we are communicating with all audiences as we share the value of
our water solutions and our vision for addressing the impact of
climate change on the human right to water."
Recent appearances featuring Chairman and CEO Susan Kennedy discussing the value of Cadiz's
water solutions can be accessed here:
Susan Kennedy, Chairman and CEO
of Cadiz Inc. (NASDAQ: CDZI), Featured as a Guest on Bloomberg
BusinessWeek Radio
Cadiz Inc. CEO Susan Kennedy Shares Evolution and Vision for
Water Management Strategies
For more information on Cadiz, please
visit www.cadizinc.com.
About MZ
MZ North America is the US division of MZ
Group, a global investor relations leader with over 250 employees
and 800 clients across 12 different exchanges. For over 25 years,
MZ has implemented award winning investor relations programs and
developed a reputation for delivering tangible, measured results
via its robust suite of services. MZ's one-stop-shop platform
serves management teams at public and private companies, including
SPACs and IPOs. The platform leverages strategic financial
communications, industry-leading investment community outreach,
public relations, financial media, ESG consulting and software, a
market intelligence desk, and technology solutions spanning
investor relations websites, conference call/webcasting, video
production and XBRL/Edgar filing services. MZ maintains a global
footprint with professionals located throughout every time zone in
North America, and in Taipei and São Paulo. MZ's growth continues to
accelerate with innovative products and services for its client
base of high-quality companies. For more information, please visit
www.mzgroup.us.
About Cadiz, Inc.
Founded in 1983, Cadiz, Inc.
(NASDAQ: CDZI) is a California
water solutions company dedicated to providing access to clean,
reliable and affordable water for people through a unique
combination of water supply, storage, pipeline and treatment
solutions. With 45,000 acres of land in California, 2.5 million acre-feet of water
supply, 220 miles of pipeline assets and the most cost-effective
water treatment filtration technology in the industry, Cadiz offers
a full suite of solutions to address the impacts of climate change
on clean water access. For more information, please visit
www.cadizinc.com.
Forward-Looking Statements
This release contains
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, and such
forward-looking statements are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
"Forward-looking statements" describe future expectations, plans,
results, or strategies and are generally preceded by words such as
"anticipates", "expect", "may", "plan", or "will". Forward-looking
statements include, without limitation, projections, predictions,
expectations, or beliefs about future events or results and are not
statements of historical fact, including statements regarding the
Company's expected benefits from its engagement of MZ Group and its
ability to further monetize its water assets and water storage as a
solution business opportunities. You are cautioned that such
statements are subject to a multitude of risks and uncertainties
that could cause future circumstances, events, or results to differ
materially from those projected in the forward-looking statements.
These and other risks are identified in our filings with the
Securities and Exchange Commission (the "Commission"), including
without limitation our Annual Report on Form 10-K for the year
ended December 31, 2023 and our
Quarterly Reports on Form 10-Q and other filings subsequently made
by the Company with the Commission. All forward-looking statements
contained in this press release speak only as of the date on which
they were made and are based on management's assumptions and
estimates as of such date. We do not undertake any obligation
to publicly update any forward-looking statements, whether as a
result of the receipt of new information, the occurrence of future
events or otherwise.
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SOURCE Cadiz, Inc.
