Marijuana Company Buys California Ghost Town, Eyeing a Green Rush

Marijuana Company Buys California Ghost Town, Eyeing a Green Rush

Marijuana Company Buys California Ghost Town, Eyeing a Green Rush

But American Green, one of the largest weed companies in America, plans to revamp the 100-year-old town into what it calls "an energy-independent, cannabis-friendly hospitality destination".

American Green says it plans to expand a farm in Nipton and bottle and sell cannabis-infused water from Nipton's aquifer.

The American Green Corporation has committed to purchasing the town of Nipton, California, for $5 million, and will acquire - alongside the right to lay down the local law - several small structures, including a hotel, a school, hot mineral springs and a general store, according to a report from Bloomberg.

American Green, the Arizona based publicly traded penny stock company (ERBB - U.S. OTC), intends to invest as much as 2.5 million into the town over the coming years to update the buildings and tie into the massive Ivanpah solar array that was recently built and is located only 10 miles from the town.

The company, which says it is the second oldest and largest publicly traded marijuana business in the USA, plans to modernize the 80-acre town that boasts some 20 residents and make it the "country's first energy-independent, cannabis-friendly hospitality destination", and a hub for the manufacture of pot products, according to a press release.

Currently, one of the town's biggest sources of income is the general store that sells California Lottery tickets to people who cross the border from Nevada.

"We are excited to lead the charge for a true green rush", American Green's president David Gwyther said in a statement to Time.

"The cannabis revolution that's going on here in the USA has the power to completely revitalize communities in the same way gold did during the 19th century", Gwyther enthused, cited by the BBC.

The unincorporated town is about an hour drive from Las Vegas, and four hours from Los Angeles.

"I like to say it's conveniently located in the middle of nowhere", jokes Lang. He said he hopes the new owners will let him and his wife stay.

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