Two Rivers Increases Farm Acreage for 2014
06 Febrero 2014 - 10:50AM
Marketwired
Two Rivers Increases Farm Acreage for 2014
Completes $6 Million Financing
DENVER, CO--(Marketwired - Feb 6, 2014) - Two Rivers Water &
Farming Company (OTCQB: TURV) (www.2riverswater.com) announced
today it will expand its farm operations to 1,240 acres in 2014
compared to 820 acres in 2013, in response to increased demand for
its fruit & vegetable produce.
"We have reached a point in our development where revenues are
growing exponentially. In 2013, Two Rivers doubled its revenues
from 2012. In 2014, we expect to more than double our revenues
again and make an operating profit," said John McKowen, CEO of Two
Rivers. Two Rivers is expanding its warehouse and shipping
facilities over the winter of 2014 and expects to open a new
cabbage processing plant in 2015 on land recently purchased.
Additionally, the Company announced it has begun development of
a comprehensive water augmentation program to supplement its
surface water rights and provide water to a growing network of
farmers who grow for Two Rivers and other well water users on the
Arkansas River in Colorado. "To build a growing business around
agriculture, you have to build some redundancy and reliability in
your water supply in Colorado. That can come from a well-balanced
augmentation program, which Two Rivers can provide for itself and
its growers," McKowen added.
About Two Rivers:
Two Rivers has developed and operates a new farming and water
business model suitable for arid regions in the Southwestern United
States whereby the Company synergistically integrates high value
fruit and vegetable farming and wholesale water distribution into
one company, utilizing a practice of rotational farm fallowing.
Rotational farm fallowing, as it applies to water, is a best
methods farm practice whereby portions of farm acreage are
temporarily fallowed in cyclic rotation to give soil an opportunity
to reconstitute itself. As a result of fallowing, an increment of
irrigation water can be made available for municipal use without
permanently drying up irrigated farmland. Collaborative rotational
farm fallowing agreements between farmers and municipalities make a
portion of irrigation water available for urban use. The Company's
initial area of focus is in the Arkansas River basin and its
tributaries on the southern Front Range of Colorado.
The second paragraph of this news release contains
"forward-looking statements," as that term is defined in Section
27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Statements that are not purely historical are
forward-looking statements and include any statements regarding
beliefs, plans, expectations or intentions regarding the future.
Actual results could differ from those projected in any
forward-looking statements due to numerous factors. Such factors
include, among others, the inherent uncertainties associated with
developing and acquiring land and water resources. There can be no
assurance Two Rivers will be able to raise additional capital, that
it will be able to increase the scale of its business, or that its
existing resources will be sufficient to meet all of its cash
needs. These forward-looking statements are made as of the date of
this news release, and Two Rivers assumes no obligation to update
the forward-looking statements, or to update the reasons why actual
results could differ from those projected in the forward-looking
statements.
Contact: John McKowen Two Rivers Water & Farming Company
(303) 222-1000 info@2riverswater.com
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