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Company Buys Town To Make Marijuana Tourist Destination

American Green, Inc. announced on Thursday that they bought all 120 acres of Nipton, a town in California with a population of 20, for $5 million. The company claims they are “the first company to buy an entire town for the purpose of capitalizing on the emerging cannabis tourism industry,” and plans to turn their newly purchased city into “the country’s first energy-independent, cannabis-friendly hospitality destination.”

The plan is to make “cannabis-based products” in Nipton, and then shift the aim to grow weed there sometime in the future. In the beginning, American Green, Inc. is going to bottle Nipton’s water, infuse it with the cannabinoid CBD (which is supposed to reduce pain and inflammation without getting you high), and sell it.

Project manager Stephen Sherin told Bloomberg, “We thought that showing that there was a viable means of having a cannabis-friendly municipality and further making it energy independent could be a way of really inspiring folks to say, ‘Why can’t we do that here?'”

American Green, Inc.’s announcement inspired a lot of investors, and the stock price for the company rose approximately 40% on Thursday alone.

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