Acquisition of Mitigation Solutions, LLC On August 8, 2022, the Company executed a Binding Memorandum of Understanding with Mitigation Solutions, LLC to acquire, for a combination of cash and stock, 100% of its stock and assets. This transaction was formalized effective September 6, 2022. *This transaction will not result in dilution for the shareholders* . On September 19, 2022, the principals of Mitigation Solutions, LLC, with over 200 years of combined experience completing similar scoped contracts and projects, executed a Binding Agreement with the Santa Maria Valley Water Conservation District to provide mitigation and restoration services under Federal Agency Funding guidelines for the Twitchell Dam and Reservoir site and associated drainages, which serve several District communities. Several additional and similar projects are also in queue. A portion of the net income from these projects will be made available to help fund the Company’s stated and previously announced resource projects as follows:
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Western Sierra Announces FINAL Contract for $1.5 Billion Federally Funded Project Through the Company’s Wholly Owned Subsidiary Press Release | 10/25/2022 STEAMBOAT SPRINGS, CO / ACCESSWIRE / October 25, 2022 / WESTERN SIERRA RESOURCE CORPORATION (OTC:WSRC) announced 09.28.22 that a Binding Agreement, having a value of $1.976 Billion was executed between its wholly owned subsidiary, Mitigation Solutions, LLC (MSL) and the Santa Maria Valley Water Conservation District (SMVWCD) in Santa Barbara County, CA. A Final Contract was ratified by all Parties on October 19, 2022. Under this final Contract, MSL will mitigate damage and restore the Twitchell Dam and Reservoir to its original holding capacities at cost of from $1.5 Billion to $2 Billion. The Contract allows for adjustment in the scope and term of the project - over an anticipated completion schedule of 7 to 10 years. Gross revenue to the Company is estimated to average $200 million annually. Two additional projects are currently in queue.