STEAMBOAT SPRINGS, Colo., Sept. 24, 2020 (GLOBE NEWSWIRE) — WESTERN SIERRA RESOURCE CORPORATION (OTC: WSRC) (“WSRC” or the “Company”) confirms that the Company has executed an Exclusive Strategic Partnership Agreement with Global Hemp Group, Inc. of Vancouver, BC (CSE: GHG/OTC: GBHPF/Frankfurt: GHG) to create a sustainable economic zone in Northwestern Colorado. The Partnership has designed a vertically integrated system beginning with industrial hemp irrigation and cultivation; preliminary processing; manufacture of hemp-based (“green”) construction products; and fabrication of affordable homes utilizing those products all from a central campus and adjacent to the hemp farm and known as a Hemp Agro-Industrial Zone (HAIZ).
In keeping with the Company’s mission of natural resource development and conservation, a plan has been implemented to utilize the Company’s experience in cultivation and processing to also embark on large scale endeavor to produce industrial hemp for manufacture of building materials and textiles. This Partnership allows the Company to combine its expertise with that of experts in the utilization of organically produced hemp fiber and hurd for manufacture of “green” alternatives to traditional construction components. Traditional products such as concrete, lumber, plastic, fiberglass insulation, structural panels, interior wall board, exterior siding, wood and laminate flooring, wood cabinets, countertops, and asphalt roofing components may all be replaced with products manufactured from hemp. The Company may now approach the quality construction of affordable homes using a renewable resource as a substitute for traditional building materials—using materials that sequester, rather than produce, CO2.
The Company’s strategic partnership with Global Hemp Group, Inc. combines extensive experience with massive opportunity. The Partnership will benefit from WSRC’s $40 million in existing water and infrastructure to irrigate hundreds of acres of quality organic industrial hemp cultivars using a series of strategic land acquisitions to create multiple revenue streams. The Partners have begun to accumulate long-term real estate assets and to enhance their value through the expansion of infrastructure and industrial hemp production and processing. Significant job creation will result. The project will combine these assets with the Company’s proprietary conservation technologies to maximize value, revenue and consumer benefit with special emphasis on affordable and environmentally friendly housing in a market where huge pent up demand has historically existed.
The hemp cultivation will focus on the production of hurd and fiber, which will be processed into value-added products in what is being termed the Hemp Agro-Industrial Zone (HAIZ). Initially the HAIZ will focus on building materials that will then be used in the construction of affordable housing in Colorado. A by-product of the processing step is hemp fiber, which can be processed into additional value-added products and sold directly to the marketplace as an additional source of revenue.
Through partnerships, joint ventures, and acquisitions, the Strategic Partnership will collaborate to build an industrial complex for the full utilization of the hemp plant with a portfolio of forward-thinking companies that also believe in the disruptive potential of industrial hemp. This collaboration will form the basis of the HAIZ.
Founded in 1907, Western Sierra Resource Corporation (a Utah corporation), has historically been a gold and silver mining company which continues to own several historical 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 assets in Colorado suitable for myriad “beneficial use” projects. These projects include, but are not limited to, agricultural production; affordable housing; development of “green” energy and energy conservation technologies; commercial real estate development; recreation; stock watering; greenhouse production; open space maintenance; and wildlife habitat.
Forward Looking Statements:
This 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. Such statements include any that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words “estimate”, “project”, “intend”, “forecast”, “anticipate”, “plan”, “planning”, “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 the company’s actual results and financial position to differ materially from those in such statements, which involve risks and uncertainties, including those relating to the Company’s ability to grow. Actual results may differ materially from those predicted and any reported should not be considered an indication of future performance. Potential risks and uncertainties include the Company’s operating history and resources, together with all usual and common economic, competitive, and equity market conditions / risks.
Western Sierra Resource Corp
Roger Johnson, CEO
Dennis Atkins, CFO
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