STEAMBOAT SPRINGS, Colorado, May 4, 2021 (GLOBE NEWSWIRE) – WESTERN SIERRA RESOURCE CORPORATION (“WSRC” or the “Company”) (OTC: WSRC) is pleased to announce that the Company has completed the transaction with Global Hemp Group, Inc. (CSE: GHG / OTCQB: GBHPF / FRANKFURT) after all “precedents” have been met and additional required documentation has been completed : GHG) as described in the definitive agreement with Prescient Strategies Group, LLC (“PSG”) in a private transaction with a third party (see press releases dated February 8, 2021 for further details).
Completion of this transaction paves the way for the creation of the Colorado Hemp Agro-Industrial Zone (“HAIZ”) – a sustainable green company in northwest Colorado – and facilitates capital formation (a senior secured debt facility that uses the water facilities as collateral) and then Growth by completing a number of targeted acquisitions that are strategically important to the accumulation of long-term real estate assets and appreciation through the expansion of the water infrastructure.
The transaction also provides the company with an opportunity not only to withdraw its existing debt obligations, but also to implement and expand WSRC’s green technology and resource development projects, including the technologies of the Mystere Power Group (MPG), the gold and silver mining project, the Helium production and the oil and gas projects and other mineral development projects – in addition to expanding the land and existing water infrastructure developed over the past 15 years and currently valued at more than $ 40 million. The availability of these water resources is an important resource in the development of the Colorado HAIZ, which is being developed under the banner of Innovative Hemp Technologies (“IHT”). The main goal of IHT is to develop “green” and “affordable” homes in a planned unit development using hemp-based building materials to meet the historical pent-up demand in the region. The project will maximize the beneficial use of water resources in all aspects of HAIZ. This will complement the on-site development of the project for large-scale irrigation and the cultivation of industrial hemp as well as the manufacture of building products and textiles based on hemp. The project will significantly expand the existing water rights and infrastructure facilities while generating multiple sources of income for the company. In addition, the project will create significant employment opportunities in the region.
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About Western Sierra Resource Corporation:
Established in 1907, Western Sierra Resource Corporation (a Utah company) has been a traditional gold and silver mining company that continues to own several historic precious metals reserves in Arizona. In 2014, the company expanded its vision to include natural (and renewable) resources by acquiring water rights and related infrastructure assets in Colorado suitable for a myriad of “beneficial” projects. These projects include, but are not limited to, agricultural production; affordable housing; Development of “green” energy and energy saving technologies; Real estate development; Recreation; Irrigation of broths; Greenhouse production; Maintenance of open spaces; and wildlife habitat. The company is developing and expanding its possibilities for “green” energy-saving technology through the takeover of the Mystere Power Group (MPG) announced last year. Helium development opportunity through joint venture with LTA Exploration; and gold and silver mines in Nevada and Arizona.
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. Such statements include all statements that predict, project, indicate or imply future results , Achievements or successes and may contain the words “estimate”, “project”, “intend”, “forecast”, “anticipate”, “plan”, “plan”, “expect”, “believe”, “likely” “Should,” “could,” “would,” “may,” or similar words or expressions, such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results and financial condition of the company materially differ from those in such statements that involve risks and uncertainties, including those relating to the company’s ability to grow Current results could differ materially from those projected and reported results should not be taken as an indication of future performance. Potential risks and uncertainties include the company’s operational history and resources, as well as all common and customary economic / competitive and stock market conditions / risks.
Western Sierra Resource Corp.
For more information, contact Western Sierra Resource Corporation:
Roger Johnson, CEO
Dennis Atkins, CFO