GWR GLOBAL WATER RESOURCES CORP. ANNOUNCES CLOSING OF $61.4 MILLION INITIAL
PUBLIC OFFERING

/This release is intended for distribution in Canada only and is not to be distributed
to United States newswire services or disseminated in the United States./

- Company to begin trading December 30, 2010 on TSX under symbol GWR - 

PHOENIX, AZ, Dec. 30 /CNW/ - GWR Global Water Resources Corp. ("Global Water" or "the Company") (TSX: GWR) announced today that it has closed its initial public offering ("the Offering") of Common Shares at a price of C$7.50 per Common Share and will commence trading on the Toronto Stock Exchange (TSX) today, December 30, 2010, under the symbol "GWR". The Offering resulted in gross proceeds to the Company of C$61,387,500.

In addition, the underwriters of the Offering have been granted an option to purchase up to an additional 1,227,750 Common Shares at the same price to cover over-allotments, if any, and for market stabilization purposes for a period of up to 30 days following the closing date of December 30, 2010. If the over-allotment option is exercised in full, gross proceeds of the Offering will increase to C$70,595,625.

"As south-western municipalities in the U.S. deal with the burgeoning issue of water scarcity, combined with the financial constraints associated with current economic conditions, efficient water management is critical. Global Water offers a new approach with its proprietary water resource management and technology solutions by delivering highly efficient services at a reduced cost to municipalities," said Trevor T. Hill, Chief Executive Officer of Global Water. "The completion of this Offering will allow us to accelerate the expansion of our FATHOM^™ business into more municipalities and build upon our existing base of utility customers in the greater Phoenix area."

Global Water is a corporation that was formed to acquire a minority interest in Global Water Resources, Inc. ("GWRI''). On closing of the Offering, Global Water acquired an approximate 46.4% interest in GWRI (which will increase to 49.9% if the over-allotment option is exercised in full), with the remaining interest being held by the existing shareholders of GWRI, including management.

GWRI, in turn, will use the net proceeds of the Offering for repayment of indebtedness and general corporate purposes, including implementing GWRI's growth strategy.

Senior management of GWRI purchased 86,669 Common Shares at the offering price of C$7.50 per Common Share, representing 1.1% of the total Offering, which brings their total ownership position in GWRI to 19.8%.

The Offering was made through a syndicate of underwriters led by Clarus Securities Inc. and CIBC World Markets Inc., and includes RBC Capital Markets, TD Securities Inc., GMP Securities L.P., and National Bank Financial Inc.

The Common Shares have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any U.S. state securities laws and may not be offered or sold in the United States absent registration or an available exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Common Shares, in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About GWRI

GWRI is a leading water resource management and technology company that owns and operates water, wastewater and recycled water utilities in strategically located communities, principally in metropolitan Phoenix, Arizona, and provides technology-enabled services through its unique technology platform, FATHOM^™ Utility-to-Utility (U₂U^™) Solutions.  Initially developed by GWRI to support and optimize its own utilities, FATHOM^™ is an integrated suite of advanced technology-enabled products designed to increase revenue, decrease costs and bring heightened efficiencies to municipally-owned 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, the use of the proceeds of the Offering, the trading of the Common Shares on the Toronto Stock Exchange 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, as well as the failure to satisfy closing or listing conditions relating to the offering.  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.  

For further information:

Ross Marshall
Investor Relations
Tel: [phone] ext. 238
Email: [email protected]    
www.gwresources.com