Cadiz Reports New Form 13D Filing by Heerema

LOS ANGELES, Dec. 6, 2021 /PRNewswire/ --Cadiz Inc. (Nasdaq: CDZI/CDZIP) ("Cadiz" or the "Company") reported a new Schedule 13D was filed today with the Securities and Exchange Commission by Heerema International Group Services S.A., a leading international offshore energy and sustainable solutions company ("Heerema IGS") disclosing its current holdings of approximately 35% of the Company's common stock. Heerema IGS indicated in its filing that it intends to remain a passive investor in the Company.

Previously, Heerema IGS held its shares through a discretionary mandate with Hoving & Partners, an independent wealth manager that maintained discretionary and advisory mandates for multiple clients, and which has been a 13G filer of the Company.  Heerema IGS' reported ownership is a portion of the Company's common stock that has been beneficially owned by Hoving & Partners.

"This new filing by Heerema provides welcome guidance regarding Heerema's ownership of Cadiz, and we are happy to have them as a significant investor," said Scott Slater, the Company's CEO & President. "We appreciate Heerema's continued support of the Company and remain committed to our mission to deliver opportunities to increase water access in California."

A representative of Heerema IGS stated: "The world is aware of the devastating water supply shortages now overwhelming California. We believe in Cadiz's mission to execute on its strategy to bring new water supply, storage and conveyance assets forward to meet the needs of those Californians most severely impacted, now and in the future.  California requires innovative solutions, and that is why we support management's prioritization of sustainable water conservation, storage and repurposing of existing pipeline assets as the cornerstone of their plans."

To view the Schedule 13D filed today by Heerema IGS, visit the Securities and Exchange Commission website at https://www.sec.gov/edgar/searchedgar/companysearch.html.

About Cadiz Inc.

Founded in 1983, Cadiz Inc. (NASDAQ: CDZI) is a California business dedicated to sustainable water and agricultural projects.  We own 70 square miles of property with significant water resources in Southern California and are the largest agricultural operation in San Bernardino County, California, where we have sustainably farmed since the 1980s.  We are also partnering with public water agencies to implement the Cadiz Water Project, which was named a Top 10 Infrastructure Project that over two phases will create a new water supply for approximately 400,000 people and make available up to 1 million acre-feet of new groundwater storage capacity for the region.  Guided by a holistic land management plan, we are dedicated to pursuing sustainable projects and practicing responsible stewardship of our land, water and agricultural resources.  For more information, please visit www.cadizinc.com.

Safe Harbor Statement

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 expectations regarding payments of dividends in the future. 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 Commission, including without limitation our Annual Report on Form 10-K for the year ended December 31, 2020, our Quarterly Reports on Form 10-Q for the three months ended March 31, 2021, June 30, 2021, and September 30, 2021 and in 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.