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.