Western Sierra Resource Corp (OTCPink: WSRC) surged up 840.75% to $0.2493 at the yesterday’s close. Western Sierra stock surpassed its Average Weekly Volume of 37.66M by trading 192.75M shares. WSRC stock surged due to its plans to acquire a majority stake in a gold mining company.

What acquisition plan does WSRC have?

Western Sierra is a Utah corporation founded in 1907. WSRC has been involved in mining gold and silver for many years and continues to own some historical resource deposits in Arizona today. The water rights acquisitions and associated infrastructure assets in Colorado in 2014 broadened WSRC’s view to include natural resources (renewable and non-renewable). As part of the acquisition, WSRC will irrigate and cultivate industrial hemp; process hemp for manufacturing various building products; and construct affordable homes using hemp-based materials.

A total of 1,400,000 square feet of commercial, industrial, and agricultural land was recently acquired by WSRC for a price of $1,400,000, with additional farms and residential properties also being purchased for a nonrefundable $250,000 earnest money deposit. In addition to precious metals and water rights, WSRC intends to leverage its technological capabilities and assets to become a broad-based resource company.

In a press release yesterday, Western Sierra announced it has entered into a binding agreement with Silver State Mining Group, Inc. (“SSMG”) to acquire 70% of its shares.

• Sage Hen Mining holds 49% of 640 acre Nevada claims owned by WSRC.
• Located in the Oreana Tend, the Sage Hen claims are adjacent to the Relief Canyon Mine.
• Enhanced recovery system assays indicate platinum, palladium, and rhodium in addition to gold and silver.
• A plan for 100 tons/day will be developed by WSRC and SSMG, followed by an immediate increase to 1,100 tons/day.
• A 100-ton operation is projected to generate $269 million in net income each year, while a 1,100-ton operation would generate $3.2 billion in annual net income.
• Details about WSRC’s progress will be provided by the company in a timely manner.

Western Sierra recently announced that in cooperation with Global Hemp Group Inc, WSRC has acquired a second strategic piece of real estate that is specific to the development of Colorado’s Hemp Agro-Industrial Zone (HAIZ).

In conjunction with the fully executed contract for the acquisition of approximately 175 acres of annexed, entitlement land, Western Sierra (WSRC) will begin its first phase of planned unit development (PUD) of environmentally friendly and eco-friendly homes. Industrial hemp will be grown using irrigated irrigation. In order to attract and present industrial hemp and other green, carbon-neutral building technologies to the world, WSRC has developed a “Master Plan”.