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Cannabis Tech Company Purchases Entire California Town

Cannabis-focused technology company #AmericanGreen has purchased the California town of #Nipton for nearly $5 million, planning on transforming it into a destination for #cannabis tourism, according to a Business Insider report. The 120-plus-acre town has a population of six, a general store, a five-room hotel, and a solar farm that will eventually allow the town to operate 100 percent off the grid.

Stephen Shearin, a consultant working with American Green on the project, said the company plans to keep the small businesses in the town intact and will offer jobs to the residents.

“The [idea] here isn’t to create ‘Woodstock 2017,'” Shearin said in the report. “It’s about creating an environment where people come to work and share in a community.”

Infrastructure construction will begin immediately, but the town must first be incorporated before they can apply for a cultivation license from the state. The future #dispensary will be called The Apothecary and will have an Old West theme.

American Green, founded in 2009, is involved in #cannabisdispensing vending machines, seed-to-sale tracking solutions, a dispensary-locator app, and the manufacture and sale of #CBD oils, including #capsules, #balms, and mints. The company plans on tapping an aquifer in Nipton to produce #hemp oil-infused water.

#CaliforniaCannabis #cannabiscompanies #venturecapitalist

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