PICO Holdings, Inc. Announces Sale of Long-Term Storage Credits in Arizona

CARSON CITY, Nev.--(BUSINESS WIRE)--PICO Holdings, Inc. (NASDAQ: PICO) announced today that the city of El Mirage in Arizona has approved the purchase from the Company’s wholly owned subsidiary, Vidler Water Company Inc., (“Vidler”) of 25,000 Long - Term Storage Credits banked in the Phoenix Active Management Area for proceeds of $8.69 million ($347.50 per Credit). Funding of the transaction is expected before December 19, 2019, and the transaction will be recorded in the Company’s financial statements for the year ending December 31, 2019.