MESQUITE, Nev., June 4, 2002 -- The Director of Operations for The Shadow Ridge Water Co., Howard Simonton, announced recently that the corporation is activating Well #4 in the Arizona Strip, southeast of Mesquite, Nev.
Simonton stated that, "The well head with a new pump installed will be turned on the first week in June to service the Shadow Ridge Subdivision."
He also stated that crews had been working the last two weeks on installation of sleeves, water mains, sewer mains and storm drains that cross the main intersection below well #4.
Approximately six miles of roads are being surfaced through the Scenic Improvement District that will serve the Shadow Ridge Subdivision with direct access from Mesquite, Nev., and Interstate 15. There are 435 homes in Phase I of the Shadow Ridge Subdivision with The Shadow Ridge Water Co. providing water and sewer utilities. Simonton stated that construction would continue now with installation of the remainder of the mains for the water and sewer.
About The Shadow Ridge Water Co., The Virgin Lakes Development Corp. and Nicholas Investment Co. Inc.
The Nicholas Investment Co. Inc. (OTCBB:NIVI - News), is a holding company holding 100% of the shares of The Virgin Lakes Development Corp.; in excess of 85% of the shares of The Shadow Ridge Water Co.; 70% of the shares of H&L Specialties Construction firm and all interests in The Town Square L.L.C. The objective of the corporation is to assist in providing capital and funding for The Shadow Ridge Water Co. which holds franchises on properties of which three developers have requested assurances of service.
In total the developments which are divided by the Virgin River will encompass a total of 690 acres of deeded or leased properties. The primary emphasis of the corporation is to build, own and operate on a long term basis the utilities of The Shadow Ridge Water Co.; promote the H&L Specialties Construction Corp. into the building of the commercial parks and housing of the projects; and assist the Town Square L.L.C. in obtaining adjacent properties in the area for further development by The Virgin Lakes Development Corp.
The focal point for the development of the water resources and real properties is in the Arizona Strip, adjacent to the city of Mesquite, Nev.
