Western Sierra Resource Corporation Announces 2nd Key Land Acquisition For Initial Phases of the Affordable Residential Development Component of the Colorado Hemp Agro-Industrial Zone
On May 18, 2021, Western Sierra Resource Corporation (WSRC) announced a strategic acquisition of approximately 175 acres of land in collaboration with Global Hemp Group Inc.. This property will be developed into a Colorado Hemp Agro-Industrial Zone (HAIZ), focusing on affordable housing and industrial hemp cultivation. The initial contract includes a $250,000 earnest money deposit, with due diligence to be completed by June 11, 2021. WSRC aims to establish a sustainable community utilizing hemp for carbon-neutral building materials, marking a significant step towards its eco-friendly vision.
- Acquisition of 175 acres to develop Colorado Hemp Agro-Industrial Zone, enhancing land assets.
- Strategic partnership with Global Hemp Group to accelerate project development.
- Focus on affordable housing and sustainable building technologies targeting a growing market.
- Completion of due diligence is required by June 11, 2021, creating potential uncertainty.
- Final payment for property is due by December 11, 2021, which may strain financial resources.
STEAMBOAT SPRINGS, Colo., May 18, 2021 (GLOBE NEWSWIRE) -- WESTERN SIERRA RESOURCE CORPORATION (“WSRC” or the “Company”) (OTC: WSRC) is pleased to announce that the Company, in conjunction with its partner Global Hemp Group Inc. has entered into a second strategic property acquisition that will be utilized in the development of its Colorado Hemp Agro-Industrial Zone (HAIZ) in Northwest Colorado. The fully executed contract for the purchase of approximately 175 net acres of annexed and entitled land will serve as the catalyst for the Company’s initial Planned Unit Development (PUD) of “green” and “affordable” homes, as well as irrigated industrial hemp cultivation. This is part of the Company’s “Master Plan” to attract and showcase Industrial Hemp and related green and carbon neutral/negative building technologies to the World.
Earnest money in the amount of US
Land Planning and Engineering Firms have been engaged by the Company. Immediately following the June 11th due-diligence completion date, the Company will be coordinating with the City Planners, Building Department, and its own consultants to establish a detailed land use plan from which to efficiently stage development of both properties totaling approximately 220 acres. Details of the transaction, and the core features of the vision shared by the City and the Company for a sustainable, affordable, and green community will be forthcoming as those events unfold and the HAIZ comes to fruition.
Hemp-Based Sustainable Community and Colorado Hemp Agro-Industrial Zone
WSRC and Global Hemp Group Inc. are preparing to build a hemp-based “Sustainable Community” from the ground up, strategically located in a beautiful part of northwestern Colorado, a location in great need of affordable housing.
The project will utilize hemp from its eco-friendly farm processed into carbon neutral/negative building materials at its nearby industrial campus. The hemp-tech “campus” will serve as incubator for the development and production of new hemp-tech intellectual property and will also serve to showcase best-in-class carbon reducing building technologies. This unique initiative will be an open invitation to collaborate with leading hemp-tech R&D scientists, academic partners, community stakeholders, and hemp-tech start-up entrepreneurs from around the world. Our ultimate Corporate Vision is contributing towards the development of a zero-carbon footprint living environment supportive of a healthy community model for the future. In order to achieve this vision, the Company will become a leader in the establishment of a “Gold Standard” in hemp-tech building sciences.
We intend to prove this model out and then help others world-wide do the same, by securing strategic vertical integration from growing hemp and processing it into various industrial, value-added marketable products for the massive untapped North American hemp building market and beyond. We believe in, are excited about and are championing hemp as a key to the carbon reducing building sciences revolution beginning to unfold, and to proudly offer products the planet desperately requires to win the war on global warming.
About Western Sierra Resource Corporation:
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; real estate development; recreation; stock watering; greenhouse production; open space maintenance; and wildlife habitat.
The Company, having closed its Definitive Agreement with Global Hemp Group, Inc. (CSE: GHG / OTCQB: GBHPF / FRANKFURT: GHG) (as announced May 4, 2021) will work with GHG to accelerate not only the Northern Colorado “HAIZ” project but also development and expansion of “green” energy savings technology through Mystere Power Group (MPG); Helium development opportunity; and gold and silver mining opportunities in Nevada and Arizona.
Colorado Hemp Agro-Industrial Zone (HAIZ) project.
The HAIZ will be the epicentre of a futuristic Sustainable/Renewable and Regenerative City model the Company intends to “brand” and duplicate sharing this model with the World. To support and innovate the HAIZ further, Global Hemp Group has established a Research and Development Division to actively pursue the development of Intellectual Property that can be patented for implementation locally and for partnerships Globally. The Division is led by Prof. Víctor M. Castaño, Ph.D. from the National Autonomous University of Mexico, a highly recognized leader in areas of applied science and technology. The R&D team brings an amazing wealth of knowledge and experience in multiple disciplines and will initially focus on development of Environmentally-Friendly Construction Materials, Nanofertilizers and Enhanced Extraction from Hemp.
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.
Contact:
Western Sierra Resource Corp
westernsierraresource.com
Twitter: @wsrcorp
FAQ
What is the significance of the recent acquisition by WSRC?
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