STEAMBOAT SPRINGS, Colo., July 13, 2021 (GLOBE NEWSWIRE) -- WESTERN SIERRA RESOURCE CORPORATION(OTC: WSRC) (the “Company”) announces completion of the initial planning, design, and engineering necessary for construction of the key commercial/industrial real estate component of the Colorado Hemp Agro-Industrial Zone (“HAIZ”). This 44.84-acre property was acquired (closed) on June 15, 2021 at a cost of $1,400,000. The HAIZ is a genesis of the Company’s vision for Sustainable, Regenerative, Renewable Resources, and Affordable housing in Northwest Colorado. In cooperation and ownership with Global Hemp Group Inc., this multi-use property has been the subject of pre-approval meetings with the City in order to commence construction on the initial 7 acres of the 44.84-acre site of the HAIZ processing and manufacturing facility. The function of this first 20,000 square foot structure is to process harvested hemp and manufacture hemp-based building materials utilized in the construction of “green” affordable homes as a Planned Unit Development (PUD) in the area. This commercial/industrial element of the “Master Plan” with Global Hemp Group Inc. (CSE: GHG / OTCQB: GBHPF / FRANKFURT: GHG), wherein this 20,000+ square foot structure, combined with warehouse, R&D laboratory, offices, and models homes included in the planned build-out of the HAIZ commercial property, is designed to attract and showcase other Industrial Hemp construction and related green/carbon neutral-negative building and conservation technologies which will be separately housed on site.
Closing the purchase of this $1,400,000 property, together with other land acquisitions currently under both binding and conditional contracts (for industrial hemp cultivation and housing development), enables WSRC and GHG to directly utilize WSRC’s $40+ million in water assets and infrastructure for irrigating, cultivating, and processing hemp for manufacture of sustainable hemp-based building products with which to build safe, efficient, and attractive homes at affordable prices.
Financial Implications of the HAIZ:
- Opportunity to develop and expand existing assets to over $250,000,000 of merchantable value during the next 5-years.
- Opportunity to establish a Planned Unit Development (PUD) to include up to 2,969+ “green” and affordable homes over the term of the project.
- Construction of homes projected to average annual net revenue of $6,207,879 per each filing of 100 single family homes built. 30 filings totaling $186,236,370 in net revenue possible at current pent-up (and increasing) demand.
- Irrigation of “dry” farmland averages a land value increase of up to 100% using the Company’s existing and expanded infrastructure. Land values also increase due to organic high-value Industrial Hemp crop production.
- Cultivation and Processing of industrial hemp is projected to average annual net revenue of $10,426,501 per 1,000 acres when the project is up to scale. Incremental annual revenue increases may total up to $52,132,505 by the fifth year of scaled production on 5000 acres. There is virtually no limit to this opportunity given present and growing off-take demand for thousands of known hemp-based products; thousands of additional acres available for production within the service area of the Company’s water assets; and the huge storage capacity aquifers underlying the project “footprint.”
The Colorado HAIZ is an exciting opportunity to implement the vision of building an entire “green,” “sustainable” and restorative community in Northwest Colorado utilizing and showcasing hemp-based building materials; other “green” economy technologies; attract and support “green community” stakeholders; and generate Government and Industry partnerships.
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 owns 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 endeavor to work with GHG to accelerate not only the Northern Colorado “HAIZ” project, but also work autonomously in the development and expansion of “green” energy savings technology through Mystere Power Group (MPG); Helium development opportunities in the Four Corners area; and actively strive, as major (70%) stakeholder in Silver State Mining Group (SSMG) to bring the Sage Hen Gold Reserve in Western Nevada into rapid production (as announced June 30, 2021).
Colorado Hemp Agro-Industrial Zone (HAIZ) project. The HAIZ will be the epicenter of a futuristic Sustainable/Renewable and Regenerative community model that the Company intends to “brand” and replicate. 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, PhD. 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, Nano Fertilizers, 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.
Western Sierra Resource Corporation
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