PHOENIX, March 21, 2014 /CNW/ - GWR Global Water Resources Corp. (TSX:
GWR) ("GWRC" or the "Company") and Global Water Resources, Inc.
("Global Water") today announced that it has received the final $4.3
million payment from the Sierra Negra Ranch ("SNR") bankruptcy plan of
the reorganization settlement agreement.
Global Water entered into the settlement agreement in October 2013 with
the land developer who owed the Company certain amounts in connection
with Infrastructure, Coordination and Financing Agreements ("ICFA").
The Company received monies from SNR totalling $5.3 million, consisting
of $2.8 million of past due ICFA fees, $2.2 million of interest, and
$300,000 of reimbursable legal costs, of which $1.0 million in interest
was paid to the Company earlier this year.
The resolution of the SNR matter brings to completion all of the
About GWR Global Water Resources Corp and Global Water
GWR Global Water Resources Corp. was established to acquire an equity
interest in Global Water. Global Water is a U.S., pure-play, water
resource management company based in Phoenix, Arizona, that owns and
operates water, wastewater and recycled water utilities.
Cautionary Note Regarding Forward-Looking Statements
This press release includes certain forward-looking statements. These
forward looking statements include, but are not limited to our plans,
objectives, expectations and intentions, and other statements contained
in this release that are not historical facts as well as statements
identified by words such as "expects", "anticipates", "intends",
"plans", "believes", "seeks", "estimates", or the negative of these
terms, or other words of similar meaning. These statements are based on
our current beliefs or expectations and are inherently subject to
significant uncertainties and changes in circumstances, many of which
are beyond our control. Actual results may differ materially from these
expectations due to changes in global political, economic, business,
competitive, market and regulatory factors and other factors discussed
under the heading "Risk Factors" in the Company's most recent Annual
Information Form. We undertake no obligation to publicly update any
forward-looking statement, except as required by law, whether as a
result of new information, future developments or otherwise.
SOURCE: GWR Global Water Resources Corp.
For further information:
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