Global Water Resources Secures $8 Million Revolving Line of Credit to Support Growth Strategy

PHOENIX, April 24, 2018 (GLOBE NEWSWIRE) -- Global Water Resources, Inc. (NASDAQ:GWRS) (TSX:GWR), a leader in water resource management, has entered into an agreement with MidFirst Bank, a federally chartered savings association, for a two-year revolving line of credit of up to $8 million.

"This new credit facility, combined with our positive cash flow and over $6 million in cash, provides greater financial flexibility as we pursue our growth strategy," said Global Water CFO, Mike Liebman. "The strategy includes taking advantage of favorable market opportunities to aggregate water and wastewater utilities, and continuing to invest in our utilities as they experience rapid growth. Together, this will allow Global Water and its customers to realize the benefits of consolidation."

The credit facility, which may be used for acquisitions and general corporate purposes, will bear interest at a rate of LIBOR plus 2.25%.

Additional information is available in Form 8-K filed today with the SEC, which is available in the Investors section of the company's website at www.gwresources.com, or www.sec.gov.

About Global Water Resources

Global Water Resources, Inc. is a leading water resource management company that owns and operates nine utility companies which provide water, wastewater, and recycled water services. The company's service areas are located primarily in growth corridors around metropolitan Phoenix. Global Water recycles nearly 1 billion gallons of water annually. To learn more, visit www.gwresources.com.

Cautionary Note Regarding Forward-Looking Statements
This press release includes certain forward-looking statements which reflect the Company's expectations regarding future events. The forward-looking statements involve a number of assumptions, risks, uncertainties, and other factors that could cause actual results to differ materially from those contained in the forward-looking statements. These forward-looking statements include, but are not limited to, statements concerning, future net income growth, our strategy, acquisition plans, our dividend policy, trends relating to population growth, active connections, regulated revenue, housing permit projections, and other statements that are not historical facts as well as statements identified by words such as "expects", "anticipates", "intends", "plans", "believes", "seeks", "estimates", or the negative of these terms, or other words of similar meaning. These statements are based on our current beliefs or expectations and are inherently subject to a number of risks, uncertainties, and assumptions, most of which are difficult to predict and many of which are beyond our control. Actual results may differ materially from these expectations due to changes in political, economic, business, market, regulatory, and other factors. Accordingly, investors are cautioned not to place undue reliance on any forward-looking statements, which reflect management's views as of the date hereof. Factors that may affect future results are disclosed under the headings "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our filings with the Securities and Exchange Commission (the "SEC"), which are available at the SEC's website at www.sec.gov. This includes, but is not limited to, our Annual Report on Form 10-K for the year ended December 31, 2017 which was filed with the SEC. We undertake no obligation to publicly update any forward-looking statement, except as required by law, whether as a result of new information, future developments or otherwise.

Company Contact:
Michael J. Liebman
SVP and CFO
Tel (480) 999-5104
[email protected]

Investor Relations:
Ron Both or Grant Stude, CMA
Tel (949) 432-7566
[email protected]