Western Sierra Announces Forecast of $15.6 Million

Palisade, CO, Oct. 16, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Western Sierra Resource Corporation (WSRA), formerly Western Sierra Mining Corporation, announces its 12-month revenue forecast of $15.6 million. The Company’s robust October harvest of more than 15 acres of high-quality hemp should yield $12,600,000; this forecast is based on published wholesale pricing at 2 cents per milligram of “CO2 extracted” full spectrum CBD. The additional “terpene” harvest that CO2 extraction allows will add an additional $750,000 in value-added revenue. Extraction services revenue @ $90.00 per pound will yield in cash or oil-exchange an additional $2,250,000. An extraordinary line of full spectrum CBD infused jams, tinctures, capsules, balms, salves, lotions, and beverages has been developed, and new products are being consistently introduced and readied for manufacture.

As the material from this month’s harvest is processed and inventories of high-grade CBD and broad-spectrum cannabinoids are accumulated, the custom retail products will be packaged and shipped through a series of retail distribution networks. The Company’s current and potential national distribution partners met last week concerning the logistics of retail sales at the Company’s Palisade, Colorado, facility. Manufacturing and packaging will be phased to coincide with the increase in CBD inventories. 

This $15.6 million forecast does not include the retail revenues anticipated from increasing demand for existing products; or potential sales revenue from newly formulated full spectrum products soon to be unveiled.

Revenue forecasts specific to retail sales volume will be announced as fulfillment schedules are finalized.

Safe Harbor Statement:

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, economic, competitive, and equity market conditions.

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