PHOENIX, AZ June 6, 2013 GWR Global Water Resources Corp. (GWRC) (TSX: GWR) today announced that Global Water Resources, Inc. (Global Water or the Company) has sold a majority interest in its Smart Grid for Water Platform, FATHOM. XPV Capital and other investors will acquire a majority interest in FATHOM through a partnership structure, and provide additional capital to fuel its growth, eliminating the need for further investment from Global Water.
The Company expects organic growth from the regulated utilities to accelerate through 2013 and anticipates the finalization of its utility rate proceeding in the first quarter of 2014. With a minority interest stake in FATHOM and the elimination of further capital requirements in FATHOM from Global Water; the Company will be able to reallocate returns in the best interest of the business and its shareholders. As part of this process the Company intends to consider the introduction of a dividend policy based on the ability of the regulated business to generate consistent positive and growing cash flows.