Western Sierra Resource Corporation (OTCMKTS:WSRC) has announced on September 20, 2022, about acquiring 100% of the stock and assets of Mitigation Solutions, LLC (MSL). It aimed at achieving one of its natural resource management and development objectives.
On Tuesday, WSRC stock soared 10.60% to $0.0334 with 1.55 million shares, compared to its average volume 520.84K shares. The stock moved within a range of $0.0276 – 0.0380 after opening trade at $0.0318.
Western Sierra Resource Corporation Announces Its Acquisition of Mitigation Solutions, LLC and Formal Acceptance of Ten Year Government Mitigation Agreement
In a stock and cash transaction, MSL has become a wholly owned subsidiary of WSRC, providing it with the capacity to mitigate water contamination, dam stabilization, and remediate sedimentation-affected large-scale water supplies for municipalities and Special Districts across the Country.
The first Mitigation Agreement of MSL as a WSRC company has been accepted by the Santa Maria Valley Water Conservation District Board of Directors. It pertains to Federal Emergency Management Agency other Federal Agency funding; to which the Santa Maria Valley Water Conservation District is beneficiary for immediate use at the Twitchell Dam and Reservoir Mitigation Project Site.
The project is anticipated to 7-10 years to complete. It involves emergency removal of ash-contaminated sediments to stabilize Twitchell Dam; restoration of the Twitchell Reservoir to original operational capacities; and mitigation of influent-contaminated sediments, water contamination and deposit of soils from upstream drainages. The Twitchell Dam and Reservoir site is the first of several California locations where these contract services may be performed by MSL.
WSRC is elated to document the initiation of Phase I of the Twitchell Dam and Reservoir project to the benefit of the Santa Maria Valley Water Conservation District, its residents, and the Company’s shareholders.
WSRC stock is trading above the 20-Day and 50-Day Moving averages of $0.0307 and $0.0302 respectively. However, the stock is trading below the 200-Day moving average of $0.0508.