Pure Cycle Corporation Announces Approval of Charter School Application at Sky Ranch

DENVER, CO / ACCESSWIRE / March 2, 2021 / Pure Cycle Corporation (NASDAQ:PCYO) is excited to announce the Sky Ranch Academy has received approval for a new Charter School which will be located in the Sky Ranch Master Planned Community.

"We could not be more pleased to be partnering with the Bennett School District in bringing a new, non tax-based school to our Sky Ranch Development", commented Mark Harding, President and CEO of Pure Cycle. "The Bennett School District has worked tirelessly with Pure Cycle and National Heritage Academy to provide this amazing opportunity to further the education of students in the District at Sky Ranch," continued Mr. Harding.

Sky Ranch Academy was formed in late 2020 for the purposes of partnering with the Bennett School District 29J ("District") in support of a new K-12 Charter School located at Sky Ranch. Sky Ranch Academy has partnered with National Heritage Academy (www.nhaschools.com) to operate the charter. NHA brings over 25 years of experience providing educational services at 90 schools in nine states, educating more than 60,000 students including four other schools in Colorado.

The Sky Ranch Academy will be located in the growing master planned community of Sky Ranch, which is located in the booming I-70 corridor east of Denver. Lot grading for the second phase of Sky Ranch is currently underway which will include nearly 900 new homes located within the District.

"As Pure Cycle continues to develop Sky Ranch, we are focused on what transforms a development into a community, including a well-executed master plan design, amenities, and high-quality education from local schools which will continue to ensure Sky Ranch's success. Bringing a nationally recognized and experienced charter school operator to Sky Ranch culminates more than 3 years of collaborative work with the Bennett Superintendent, Chief Financial Officer, and the dedicated members of the Bennett School Board," stated Mr. Harding. "We believe this will be a cornerstone asset to the Sky Ranch community with a neighborhood school serving District residents at Sky Ranch," concluded Mr. Harding.

Sky Ranch is one of the Denver Metropolitan Area's fastest growing, most affordable Master Planned Communities with a portfolio of national home builders including KB Home, Richmond American, Taylor Morrison, Lennar, DR Horton, and Challenger Home. With 3,500 homes and more than 2 million square feet of commercial, retail, and industrial spaces, Sky Ranch will continue to influence the landscape of the Denver I-70 corridor.

Company Information

Pure Cycle is a diversified land and water resource development company. At our core we are an innovative and vertically integrated wholesale water and wastewater service provider that, in addition to developing wholesale water and wastewater resources, also develops master planned communities to which we provide water and wastewater services.

Additional information, including our recent press releases and SEC filings are available at www.purecyclewater.com, or you may contact our President, Mark W. Harding, or our CFO, Kevin B. McNeill, at 303-292-3456 or at info@purecyclewater.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are all statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect or anticipate will or may occur in the future. The words "anticipate," "likely," "may," "should," "could," "will," "believe," "estimate," "expect," "plan," "intend" and similar expressions are intended to identify forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain and involve risks and uncertainties that could cause actual results to differ materially. Factors that could cause actual results to differ from projected results include, without limitation: the timing of oil and natural gas development in the areas where we sell our water; the market price of oil and natural gas; weather; home mortgage interest rates and other factors impacting the housing market and home sales; market conditions for debt offerings; the risk factors discussed in Part I, Item 1A of our most recent Annual Report on Form 10-K for the fiscal year ended August 31, 2020; and those factors discussed from time to time in our press releases, public statement and documents filed or furnished with the U.S. Securities and Exchange Commission. Except as required by law, we disclaim any obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE: Pure Cycle Corporation

Released March 2, 2021