A small Vancouver-based company announced this morning that it had signed a binding Letter of Intent with Prescient Strategies Group LLC to acquire its Wester Sierra Resource Corporation Preferred A Class Share holdings in a private, third party transaction. Global Hemp Group Inc. (CSE:GHG) announced the resulting acquisition of these WSRS preferred shares will give GH control over WSRC, and specifically its strategic water infrastructure assets, according to the release.
Global Hemp Group is a Canadian company. The company is principally active in agriculture and manufacturing in the industrial hemp sector. The firm is cultivating hemp at projects in New Brunswick and in the United States.
Traders seemed to be excited on the news as shares traded up as high as $0.07/share (+100%) during Monday’s session. This is a strong breakout out of the slight trading range stock has been in during the last month.
