What’s The Deal With That Weed Company That Bought A Ghost Town?

What’s The Deal With That Weed Company That Bought A Ghost Town?

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What would you say if you heard there was an entire town owned by a cannabis company? Where the water flowed chock-full of cannabis infusion, the townspeople took CBD mineral baths, and the town sustained itself completely on independently created green energy?

You’d probably say to whoever told you that they’d taken a couple too many dabs, but that insane mega bong hit pipe dream may soon be a reality. American Green, a cannabis venture company, announced last week that it bought the town of Nipton, California for a cool $5 million.

According to a statement from the company, they intend to soon turn the desert town into a sort of cannabis utopia that for now “will focus on the bottling of fresh CBD-infused water direct from a nearby aquifer.”

But more plans to come such as “possible fully-licensed cultivation,” the creation of edible manufacturing facilities, and a whole bunch of rather out there tantalizations such as “CBD and mineral baths, cannabis-product retail outposts, artists-in-residence programs, culinary events, and Bed-and-Breakfast lodging to complete the charming small town experience.”

In addition, American Green says it hopes to “catalyze job creation and development within [Nipton] and surrounding communities,” as well as make the town “completely energy-independent.”

“We see this nascent and burgeoning industry a little differently than most other cannabis companies in America. We take a longer term approach to serving the industry and the growing number of people working within it,” said David Gwyther, chairman and president of American Green.

Wow! All that is a lot. It may even sound implausible. And that implausibility may seem compounded when one reads the report from New Cannabis Ventures, which points out that the company only showed about $300,000 in assets as of last March (including a $100,000 loan). At that time, American Green also had nearly $9 million in liabilities and $6 billion in stockholders’ deficit.

All that makes rehauling an entire community and starting a nationwide “Green Rush” kind of a long shot, especially when you consider assertions from New Cannabis Ventures like the one that says that American Green “has a long history of issuing exciting press releases but then not following through.”

But, hey, long shots come through sometimes. Ever seen Rocky II?

Photo “Hotel Nipton“ via Flickr user Regina Rioux

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