DENVER, CO -- (Marketwired) -- 07/01/13 -- Pure Cycle Corporation (NASDAQ: PCYO) announced that it has entered into a professional services agreement to operate the Town of Bennett's water and wastewater systems beginning August 2013.
For several years the Company has been working with the Town of Bennett and other interests along the I-70 corridor, where its Sky Ranch property is located, to bring its valuable water supplies and service capabilities to assist land owners and communities with their water supply needs. This operations contract will provide modest annual revenues of approximately $40,000 per year and further the Company's strategic goal of developing its service business.
Mark W. Harding, Pure Cycle's President, commented, "We are excited to enter into this agreement with the Town of Bennett and look forward to providing quality service to Town customers as the Town develops and expands their water and wastewater systems."
Pure Cycle Corporation was also added to the Russell 2000® and Russell Global® Indexes. The Russell 2000® Index measures the performance of the small-cap segment of the U.S. equity universe and is a subset of the Russell 3000® Index, representing approximately 10% of the total market capitalization of that index. Memberships in the indexes remain in place for one year.
Russell Indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. Russell determines membership for its equity indices primarily by objective, market capitalization rankings, and style attributes.
More information about Pure Cycle can be found at our website at www.purecyclewater.com.
Pure Cycle owns water assets in several river basins in the State of Colorado as well as certain aquifers in the Denver, Colorado metropolitan area. Pure Cycle provides water and wastewater services to customers located in the Denver metropolitan area including the design, construction, operation and maintenance of water and wastewater systems.
Additional information including our recent press releases and Annual Reports are available at www.purecyclewater.com, or you may contact our President, Mark W. Harding, at 303-292-3456 or at firstname.lastname@example.org.
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Mark W. Harding
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