Today, Cadiz Inc. (NASDAQ: CDZI) ("Cadiz", the "Company"), a California business dedicated to sustainable water and agricultural projects, announced that it has entered into agreements with the holders of the Company’s outstanding Convertible Notes due March 2020 ("Convertible Notes") to exchange approximately $27 million of outstanding principal amount of the Convertible Notes into a new series of convertible preferred stock that is convertible into common stock no later than March 2025 and has no dividend or required redemption. All remaining Convertible Notes were converted into common stock prior to their March 5, 2020 maturity date in accordance with their terms and the resulting common stock has been issued and is already outstanding. Concurrent with the exchange agreements, the Company also entered into an option agreement with its senior lender, Apollo Special Situations Fund, L.P., that provides the Company the right to extend the maturity date of its senior mortgage debt ("Senior Debt") at the Company’s option from the current maturity date of May 2021 to May 2022. In addition, the Company has completed its previously disclosed At the Market Offering, which raised approx. $25 million for its development program and working capital.
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Today, Cadiz Inc. (the “Company”) (CDZI) announced that California Governor Gavin Newsom signed Senate Bill 307 (“SB 307”), a measure designed to require additional review of the Cadiz Water Project by state agencies. “While we believe SB 307 is a troubling precedent for infrastructure development, it will not stop the Cadiz Water Project, a sustainable project designed to safely make available new water for 400,000 people in California. We stand ready to comply with SB 307, just as we have complied with all of California’s stringent environmental laws.
Mixed Near-Term Outlook for Agriculture Operations Industry
Cadiz Inc. (“the Company”, NASDAQ:CDZI) is pleased to announce that eleven directors, including two new board members, were elected to the Company’s Board of Directors at the 2019 Annual Meeting of Shareholders held yesterday July 10, 2019. The two new board members, Maria Echaveste and Carolyn Webb de Macias, replace two retiring members, Ray Pacini and Tim Shaheen, who honorably served on the Board of Directors since 2005 and 1999, respectively.
The latest edition includes a summary of industry headlines and media coverage from the final quarter of 2019, as well as content from the Company’s corporate blog and images from the SoCal Hemp Co. farming operation, which is preparing to move from a research trial to a commercial crop in 2020. Founded in 1983, Cadiz Inc. (CDZI) is a natural resources leader that owns 70 square miles of property with significant water resources in Southern California. The Company is the largest agricultural operation in San Bernardino County, California, where it has sustainably farmed since the 1980s and is also actively pursuing a joint venture to organically cultivate hemp on up to 9,600 acres.
Cadiz Inc. (NASDAQ: CDZI), a Los Angeles-based natural resources company that owns more than 70 square miles of property with water rights in Southern California, on Aug. 1 announced it had formed a 50/50 joint venture with the Glass House Group, a vertically integrated cannabis and hemp company, parent to Glass House Farms and its brands. The JV will operate under the name SoCal Hemp Co. and will focus on growing industrial hemp at a commercial scale. Kyle Kazan, Chairman and CEO of the Glass House Group, told Benzinga this is the first time a U.S.-based NASDAQ-listed company has formed a long-term relationship with a hemp and cannabis company.
Despite the Dow hitting 27,000 for the first time, not every stock participated in the rally.
Cadiz Inc. (CDZI) (“Cadiz”, the “Company”), a natural resources leader dedicated to pursuing sustainable projects, announced that Scott Slater, President & CEO, will present at the 5th Annual B. Riley FBR Annual Consumer & Media Conference today, October 3, 2019, in New York to discuss the Company’s new joint venture So Cal Hemp Co. LLC. Mr. Slater’s presentation is scheduled to begin at 4:00 p.m. Eastern time and will be webcast at the following link, http://www.wsw.com/webcast/brileyfbr4/cdzi/index.aspx, and via the Company’s website https://www.cadizinc.com/investor-relations/. Founded in 1983, Cadiz Inc. (CDZI) is a publicly held natural resources company that owns 70 square miles of property with significant water resources in Southern California.
Glass House Group, a California-based vertically integrated cannabis and hemp company, announced it has completed its 355,000 square feet greenhouse expansion, bringing the company’s total greenhouse capacity ...
Investors have driven shares of this water rights and agricultural company up 20% in August.
Cadiz Inc. (CDZI) (“Cadiz”, the “Company”) is pleased to announce that SoCal Hemp LLC, its joint venture subsidiary with Glass House Group, has completed its first harvest of industrial hemp at the Cadiz Valley Ranch in California’s Mojave Desert as part of a research program announced earlier this year. The first hemp crop, which was planted during the height of the summer, was successfully grown in the open-air, desert environment demonstrating that commercial hemp production is a viable crop for the Company’s agricultural operations.
LOS ANGELES, Aug. 30, 2019 -- Cadiz Inc. (NASDAQ: CDZI, the “Company”) announced today that the Fenner Valley Water Authority (“FVWA”) has adopted an Addendum to the Cadiz.
Cadiz Inc. (CDZI), a natural resources leader dedicated to pursuing sustainable projects, announced it has entered into a joint venture (“JV”) partnership with Glass House Farms, a division of California Cannabis Enterprises (“CCE”), one of the largest, California State licensed, vertically-integrated cannabis and hemp companies in the U.S. The JV is a 50-50 shared venture of Cadiz and Glass House Farms, which will operate under the name SoCal Hemp Co. The JV will work to sustainably cultivate organic, sun-grown, industrial hemp on up to 9,600 acres at the Cadiz Ranch in San Bernardino County, California.
Cadiz Inc. (CDZI) (“Cadiz”, the “Company”) is pleased to announce that the Cadiz Water Project, the Company’s public-private partnership with California water providers to make available new, sustainable water supplies and groundwater storage for Southern California, was recognized today by Blueprint 2025 as a Top 10 Private Investment in Infrastructure Project at the North American Infrastructure Forum held in Washington D.C. Blueprint 2025 is a bi-partisan coalition of infrastructure leaders dedicated to transforming the domestic infrastructure market by injecting private investment into key, strategic projects. Today’s awards were granted to projects that will improve and expand North American infrastructure, but require little or no public investment to be built.
Scott Slater became the CEO of Cadiz Inc. (NASDAQ:CDZI) in 2013. This report will, first, examine the CEO compensation...
Before we spend countless hours researching a company, we like to analyze what insiders, hedge funds and billionaire investors think of the stock first. This is a necessary first step in our investment process because our research has shown that the elite investors' consensus returns have been exceptional. In the following paragraphs, we find out […]
Today, Cadiz Inc. (the “Company”) (CDZI) announced that the California State Assembly considered and passed Senate Bill 307 (“SB 307”), a measure designed to require additional state review of the Cadiz Water Project. California Governor Gavin Newsom has 12 days to either sign the measure or veto it.
Company appoints Tim Shaheen to new Director of Development role and names new CFO as operations focus on expansion of agriculture development and complementary water.