From their Facebook:
"Well, it's time for some bad news...
We've just learned that the source from which we licensed SAVAGE WATER did not have proper rights to it. However, in a weird mixed blessing sort of way, we are finally in touch with director Paul Kener. Paul has shared with us his plans for the film and they're quite exciting. However, releasing it in its current form is not what Paul wants and obviously we're going to honor his wishes. So, with that said, the disc has been cancelled and everyone who purchased off the VS site will be receiving a FULL REFUND by the end of the week.
It sucks for now but the silver lining is that Paul fully intends to get the film out there, but sourced from the negative, which he thankfully still has.
This is hardly the last the world will here of SAVAGE WATER!"