Pardee Resources Company: Second Agricultural Investment

Pardee Resources Company (OTC: PDER) (the “Company”) reports that its subsidiary, Pardee Agricultural Properties LLC, recently acquired an interest in a partnership that leases a 220 acre farmland tract located in Kern County, at the southern end of California’s Central Valley.  The tract will be developed and managed for premium table grapes by a local, multi-generational agricultural operating company.  The Company has committed $3.7 million for the acquisition and development of this property.  “We are excited to build out our agricultural platform with this second acquisition which further diversifies our land business,” said Carleton P. Erdman, President and Chief Executive Officer.


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