DENVER, Colorado, Jan. 16, 2020 (GLOBE NEWSWIRE) -- Two Rivers Water & Farming Company (“Two Rivers” or the “Company”) (TURV), a strategic company that acquires, manages and develops the infrastructure of various agricultural industries including water rights, today issued the following statement from the Company’s Interim Chief Executive Officer, Greg Harrington, on the decline in market price of the company’s stock:
“We believe the weakness in the stock price is likely the result of the downward pressure imposed by the convertible loans issued by the company and the Black Mountain Equities warrants as opposed to any change in the underlying fundamentals of the company. The loans are convertible into the Company's stock at a discount from the market price, and we believe that resales of these shares have driven the price down.
The Company is actively seeking other funding sources in view of the strategic restructuring framework I described last September. We have made progress toward our goal, but we have nothing definitive to announce yet. We have also been advised that progress has been made with recent approvals on the Crown Valley development project and we are awaiting an update on the developers' plans to break ground and begin payments to the Company for the taps fees.”
About Two Rivers
Two Rivers Water & Farming Company is a vertically integrated agricultural and water rights company with over a decade of experience focused on building a portfolio of water rights and real estate in Colorado. Two Rivers is focused on expanding their agribusiness along with development and rehabilitation of its water assets. www.2RiversWater.com
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, including the inherent uncertainties associated with developing and acquiring land and water resources. There can be no assurance Two Rivers will be able to initiate and operate in accordance with its business plans. These forward-looking statements are made as of the date of this news release, and Two Rivers assumes any 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.
Two Rivers Water & Farming Company