Western Sierra Resource Company – GuruFocus.com
STEAMBOAT SPRINGS, Colorado, September 21, 2021 (GLOBE NEWSWIRE) – WESTERN SIERRA RESOURCES CORPORATION ( WSRC) is pleased to provide the following company and project updates:
- In August 2021, $ 1,066,709.22 in cash principal reduction payments were made to the Company’s creditors.
- The accounting firm registered with the PCAOB of BF Borgers CPA PC has been engaged by the Company to audit its financial statements.
- Between June 15e and September 20e 2021, a total of $ 6,400,000.00 of land acquisitions has been concluded or is the subject of a non-refundable “hard” deposit contract pending the closure of the development of the Hayden HAIZ project in collaboration with Global Hemp Group, Inc. Trading (CSE: GHG / GBHPF / FRA: GES).
- The Company has demonstrated its commitment to the continued investment of time, energy and financial resources necessary to become a broad-based natural resources company with high value assets and high income generating including water, precious metals, helium, energy production / conservation technologies, agriculture and real estate for the benefit of its shareholders.
Industrial hemp / water rights
The company, in conjunction with Global Hemp Group, Inc., acquired or contracted 875 acres of land in and contiguous to the town of Hayden, Colo., Upon which to directly apply its $ 40 million in assets. water and infrastructure for organic hemp irrigation for processing and manufacturing carbon sequestration products for building affordable homes. Planning and engineering are underway for the construction of processing and manufacturing facilities (totaling 36,000 square feet) and affordable hemp-based homes.
MPG Energy production / conservation technologies project
The Company (by and through its Mystere Power Group, LLC (MPG) team), actively develops, tests, adapts, patents and markets a number of disruptive and innovative technologies to reduce energy consumption in cooling and heating ( HVAC) and refrigeration systems; effectively and chemically eliminating airborne pathogens in commercial buildings; generate clean energy using a turbine system for cost-effective off-grid power generation and using air-to-water (AWG) technology to meet domestic water needs. Several exciting license and end user agreements are pending.
SSMG-Sage Hen mining project
As noted in previous announcements, the officers and directors of the Company have pledged to fund the $ 10 million Sage Hen mining project without issuing new shares. The next $ 2.5 million is expected to be transferred from WSRC to SSMG within the next 30 days to secure the permits necessary to build the 100-ton-per-day pilot plant. The Company is in the process of acquiring additional acreage in the region for expansion and future projects. In order not to create unnecessary competition, we will make the claim locations public as soon as this process is complete. The improved microscopic recovery technologies employed by SSMG continue to demonstrate superior results.
The WSRC Helium joint venture has been expanded to also include conventional oil and gas exploration identified using proprietary and open source geological and geophysical data to identify areas with potentially oil and natural gas reserves. important. Several areas within the boundaries of the helium production project have been assessed as viable oil and gas prospects and are currently in negotiations for drilling rights. The joint venture plans to develop 3 to 6 projects per year from 2022.
About Western Sierra Resource Corporation:
Founded in 1907, Western Sierra Resource Corporation (a Utah company) has a 114-year history as a gold and silver mining company with projects in Arizona, Nevada, California, and Mexico. WSRC currently has six precious metal reserves in Arizona. In 2014, the Company broadened its vision to include natural (and renewable) resources with its acquisition of water rights and associated infrastructure in Colorado for irrigation and industrial hemp cultivation; processing of hemp for the manufacture of various construction products; and for building affordable homes using hemp-based materials, among other beneficial uses. Commercial, industrial and agricultural land for these purposes has recently been acquired.
WSRC is not a subsidiary of any other company. WSRC and Global Hemp Group (GHG) have formed a partnership through a preferred share exchange to utilize WSRC’s $ 40 million in water and infrastructure assets and GHG’s extensive experience with the industrial hemp (and financial resources) in a collaborative effort to develop an Agro-Industrial Hemp (“HAIZ”) in Northwest Colorado.
This press release includes “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. These statements include those which may predict, predict, indicate or involve future results, performance. or achievements, and may contain the words “estimate”, “project”, “intend”, “foresee”, “anticipate”, “plan”, “plan”, “expect”, “believe” “,” Probable “,” should “,” could “,” would “,” could “or similar words or expressions. Such statements are not guarantees of future performance and are subject to risks and uncertainties which could cause the actual results and financial position of the company to differ materially from those contained in such statements, which involve risks and uncertainties. uncertainties, including those related to the company’s ability to grow. Actual results may differ materially from those predicted and any report should not be taken as an indication of future performance. Potential risks and uncertainties include the operating history and resources of the Company, as well as all customary and current economic, competitive and market conditions / risks.
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