Western Sierra Resource Corporation SEC Form 10 Update

Rhea-AI Summary

WESTERN SIERRA RESOURCE CORPORATION (OTC: WSRC) announced that its FORM 10 REGISTRATION Statement will take effect in 30 days, enabling it to operate as an SEC full reporting company. This change allows additional broker-dealers to trade WSRC shares and enhances market visibility. WSRC aims for a listing on a recognized exchange, increasing stock exposure and investment opportunities. The FORM 10 includes PCAOB Audited Financials revealing $1,202,800 in revenue for the first nine months of 2021 and total assets of $50.1 million. WSRC is diversifying into various natural resources, including helium and renewable energy technologies.

Positive

• SEC registration will increase trading opportunities and market awareness for WSRC.
• PCAOB Audited Financials show revenue of $1,202,800 and total assets of $50.1 million.
• Plans to list on a recognized exchange could enhance stock exposure and investment opportunities.
• Engagement in diverse projects including helium exploration, water rights, and energy conservation technologies.

Negative

• None.

STEAMBOAT SPRINGS, Colo., Jan. 19, 2022 (GLOBE NEWSWIRE) -- WESTERN SIERRA RESOURCE CORPORATION (OTC: WSRC) is pleased to confirm that its FORM 10 REGISTRATION Statement will become automatically effective in 30 days at which time WSRC will become an SEC full reporting company and begin filing Forms 10-K, 10-Q and 8-K.

The major benefits are; additional Broker Dealers are allowed to accept orders and trade the shares of WSRC; increased Market Awareness as only SEC reporting Companies are listed in certain newsletters and stock boards.

Upon SEC approval, WSRC intends to pursue a listing on a Listed Exchange which will increase stock exposure, enabling new investment and funding opportunities.

The FORM 10 filing included PCAOB Audited Financials up to the Third Quarter of 2021. These Third Quarter Audited Financial Reports showed water assets with nine months revenue of $1,202,800 and total assets of $50.1 million. WSRC’s 2021 annual audit is underway.

Income from other WSRC natural resource projects will be announced as subsequent quarterly reports are completed. The Company continues to position itself as a multi-dimensional natural resource, renewable resource, and energy / energy conservation enterprise and is investing the necessary time, diligence, and capital to achieve sustainable growth by meeting individual project revenue objectives to the benefit of our shareholders. Revenues will be realized through concentrated effort in the following Project areas:

• Natural Resource Development: Enhanced (Proprietary and Eco-Sensitive) Microscopic Recovery of Precious Metals as a hedge against currency fluctuation/devaluation. (Sage Hen Mine, Nevada).
• Natural Resource Development: Water and Infrastructure for beneficial use in cultivation of industrial hemp for processing and subsequent manufacture of “green” carbon sequestering construction products to build affordable homes in collaboration with Global Hemp Group. (Hayden, Colorado).
• Natural Resource Development: Helium exploration and production to address unmet demand in myriad technological applications. (NM, CO, AZ, NV).
• Energy Conservation and Power Generation Technologies: On-going R&D, patent, and implementation of environmentally conscious innovations for energy/cost saving Heating/Cooling (HVAC), Refrigeration, and Air Purification systems; Long-life Energy Storage Systems; Low (and no) emission motors, engines, generators, and turbine technologies for both stationary and mobile powertrain applications; and Air-Water Generation (AWG) systems for domestic supply and food production—to name a few. Several potentially lucrative contracts are currently under negotiation for large-scale production. (Escondido, CA, St. George, UT).
  

About Western Sierra Resource Corporation:
Founded in 1907, Western Sierra Resource Corporation (a Utah corporation), has 114-year history as gold and silver mining company with projects in Arizona, Nevada, California, and Mexico. WSRC currently owns 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 assets in Colorado for purposes of irrigating and cultivating industrial hemp; processing hemp for manufacture of various building products; and for construction of affordable homes utilizing hemp-based materials—among other beneficial uses. Commercial, Industrial, and Agricultural land for these purposes has been recently acquired (closed as of 06.15.21) at a price of $1,400,000, with an additional 830 acres of agricultural and residential land also under non-refundable “hard” earnest money purchase contract. WSRC’s intent is to become a broad-based resource company with high value and high-income generating assets including precious metals, real estate, water, agriculture, helium, and “green” technologies.

WSRC and Global Hemp Group Inc. (GHG) have formed an association through a swap of Preferred Stock to utilize WSRC's $40+ million in Water and Infrastructure Assets and GHG's extensive experience with industrial hemp (and financial resources) in a collaborative effort to develop a Hemp Agro-Industrial Zone ("HAIZ") in Northwest Colorado.

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 Corporation
westernsierraresource.com

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@WSRCorp

FAQ

What does WSRC's SEC registration mean for investors?

WSRC's SEC registration allows for increased trading opportunities and access to a broader range of investors.

What were WSRC's reported financials for the third quarter of 2021?

WSRC reported $1,202,800 in revenue and total assets of $50.1 million for the third quarter of 2021.

What is WSRC's plan for listing on a recognized exchange?

WSRC intends to pursue a listing on a recognized exchange to enhance stock exposure and attract new investments.

What types of projects is WSRC involved in?

WSRC is involved in projects including helium exploration, natural resource development, and energy conservation technologies.