"Over the last several years we have divested non-core assets and recently refinanced our debt and listed on the NASDAQ," said Ron L. Fleming, CEO of Global Water Resources. "This has strengthened our balance sheet setting the stage for initiatives we're pursing to increase our water and wastewater revenue and grow our recurring dividend as we execute."
"We see new service connections driven by the favorable trend in housing application permits. In fact, housing permit applications in Metro Phoenix increased 52% in June; and in the City of Maricopa, where we own and operate our largest utilities, permit volumes have increased 67% year over year. We welcome this trend considering our modern infrastructure has capacity to meet considerable growth with minimal CAPEX requirements. We are also set to benefit from utility rate increases. As previously announced, we received approval from Arizona Corporation Commission for our utility rate case which authorizes steady rate increases for the next five years."
"Given this pivotal stage of our company, we believe it is an opportune time to proactively communicate our value proposition to the broader investment community, particularly in the U.S. We selected Liolios because of their proven track record in assisting growth companies like Global Water Resources, and we will work closely with them to help raise our profile within the financial community."
Liolios will collaborate with Global Water Resources management to develop and execute a comprehensive capital markets strategy with a full suite of investor relations services. Activities will include: messaging and corporate positioning, strategic advisory and targeted introductions to analysts, investors and other key influencers in the financial community. Liolios will also schedule a number of investor marketing activities for management.
For additional information about Global Water Resources, contact Liolios at 949-574-3860 or email GWRS@liolios.com.
About Global Water Resources, Inc.
Global Water Resources, Inc. is a comprehensive water resource management company based in Phoenix, Arizona. It manages the entire water cycle by owning and operating water, wastewater and recycled water utilities. For more information about Global Water Resources, visit www.gwresources.com.
Liolios is a comprehensive financial communications firm specializing in small-cap companies. The firm aims to deliver superior performance in corporate messaging and positioning, capital markets advisory, investor awareness and capital formation. Founded in 1999, Liolios executives have extensive experience in finance and investments, and represent public and private companies in a wide range of industries, including technology, digital media, consumer/internet retail, healthcare/life sciences, natural resources, financial services and business services. For more information about Liolios, please visit www.liolios.com.
Cautionary Note Regarding Forward-Looking Statements
This press release includes certain forward-looking statements which reflect the Company's expectations regarding future events. The forward-looking statements involve a number of assumptions, risks, uncertainties and other factors that could cause actual results to differ materially from those contained in the forward-looking statements. These forward-looking statements include, but are not limited to, improvements to our bottom line, our strategy, trends relating to population increases, increases in active connections, increases in regulated revenue, housing permit projections and other statements 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 a number of risks, uncertainties and assumptions, most of which are difficult to predict and many of which are beyond our control. Actual results may differ materially from these expectations due to changes in political, economic, business, market, regulatory and other factors. Accordingly, investors are cautioned not to place undue reliance on any forward-looking statements, which reflect management's views as of the date hereof. Factors that may affect future results are disclosed under the headings "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our filings with the Securities and Exchange Commission (the "SEC"), which are available at the SEC's website at www.sec.gov. 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.
Investor Relations for Global Water Resources:
Ronald A. Both
Liolios Investor Relations
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SOURCE Global Water Resources, Inc.