STEAMBOAT SPRINGS, Colo., May 04, 2021 (GLOBE NEWSWIRE) — WESTERN SIERRA RESOURCE CORPORATION (“WSRC” or the “Company”) (OTC: WSRC) is happy to announce that having met all “Conditions Precedent,” and extra required documentation having been executed, the Company has now finalized the transaction with Global Hemp Group, Inc. (CSE: GHG / OTCQB: GBHPF / FRANKFURT: GHG) as outlined within the Definitive Agreement executed with Prescient Strategies Group, LLC (“PSG”), in a personal, third get together transaction (see information releases of February 8, 2021 for additional particulars) .
Completion of this transaction paves the best way for creation of the Colorado Hemp Agro-Industrial Zone (“HAIZ”) – a Sustainable Green Enterprise in Northwest Colorado and facilitates capital formation alternatives (a Senior Secured Debt Facility using the water property as collateral) and subsequent progress by way of completion of a sequence of focused acquisitions strategic for accumulation of long-term actual property property and enhanced worth by way of enlargement of water infrastructure.
The transaction additionally supplies the Company with the chance to not solely retire its present debt obligations, however to implement and broaden WSRC’s inexperienced know-how and useful resource growth initiatives together with its Mystere Power Group (MPG) applied sciences, gold and silver mining challenge, helium manufacturing, oil and fuel challenge and different mineral growth initiatives—along with increasing its land and present water infrastructure property developed during the last 15 years and at present valued at greater than +US$40 Million. The availability of those water property is a key useful resource within the growth of the Colorado HAIZ, which is being developed beneath the banner of Innovative Hemp Technologies (“IHT”). IHT’s core goal is to develop “inexperienced” and “inexpensive” properties in a Planned Unit Development using hemp-based development supplies to fulfill historic pent-up demand within the space. The challenge will maximize the useful use of the water property by way of all points of the HAIZ. This will complement the challenge’s onsite growth of largescale irrigation and cultivation of business hemp and the manufacture of hemp-based development merchandise and textiles. The challenge will considerably broaden the prevailing water rights and infrastructure property whereas producing a number of income streams for the Company. In addition, the challenge will create vital employment alternatives within the area.
About Western Sierra Resource Corporation:
Founded in 1907, Western Sierra Resource Corporation (a Utah company), has traditionally been a gold and silver mining firm which continues to personal a number of historic valuable metallic reserves in Arizona. In 2014 the Company broadened its imaginative and prescient to incorporate pure (and renewable) sources with its acquisition of water rights and related infrastructure property in Colorado appropriate for myriad “useful use” initiatives. These initiatives embrace, however usually are not restricted to, agricultural manufacturing; inexpensive housing; growth of “inexperienced” vitality and vitality conservation applied sciences; actual property growth; recreation; inventory watering; greenhouse manufacturing; open house upkeep; and wildlife habitat. The Company continues to develop and broaden “inexperienced” vitality financial savings know-how alternative by way of final 12 months’s introduced acquisition of Mystere Power Group (MPG); Helium growth alternative by way of its three way partnership with LTA Exploration; and gold and silver mining alternatives in Nevada and Arizona.
Forward Looking Statements:
This launch consists of “forward-looking statements” inside the which means of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Such statements embrace any which will predict, forecast, point out, or suggest future outcomes, efficiency or achievements, and will comprise the phrases “estimate”, “challenge”, “intend”, “forecast”, “anticipate”, “plan”, “planning”, “count on”, “consider”, “seemingly”, “ought to”, “might”, “would”, “might” or comparable phrases or expressions. Such statements usually are not ensures of future efficiency and are topic to dangers and uncertainties that would trigger the corporate’s precise outcomes and monetary place to vary materially from these in such statements, which contain dangers and uncertainties, together with these referring to the Company’s potential to develop. Actual outcomes might differ materially from these predicted and any reported shouldn’t be thought-about a sign of future efficiency. Potential dangers and uncertainties embrace the Company’s working historical past and sources, along with all regular and customary financial, aggressive, and fairness market circumstances / dangers.
Western Sierra Resource Corp
For Further Information Contact Western Sierra Resource Corporation:
Roger Johnson, CEO
Dennis Atkins, CFO