Marijuana company buys entire US town to create 'cannabis-friendly municipality'

American Green, a marijuana company decided to buy the whole town of Nipton for $5 million in order to make it into a destination for cannabis. Nipton has 120 acres of land and it has a school building, a general store, a hotel, and mineral baths. The town will have renewable energy for a power source.

President David Gwyther of American Green stated that they are thrilled to be the first to start a marijuana municipality. The cannabis revolution has the capability to rejuvenate communities in the US.


In the early 20th Century the town Nipton was founded together with valuable metal in the nearby area. There were only 20 people then living on the border of California and Nevada.

There are eight states where the recreational marijuana is legal, and California and Nevada are among them. American Green aims to invest approximately $2.5 million in rejuvenating the town to make it eco-friendly and a favorite destination for tourists.


Stephen Shearin, the project manager, mentioned to Bloomberg that creating a cannabis-friendly municipality with independent energy will definitely inspire other towns to do the same. It was the rush of gold that built the Nipton town, and the green rush of cannabis can push it to move forward.

Former US President Barack Obama was lenient in dealing with marijuana and so it was not hard to legalize recreational cannabis.

However, when the new US President Donald Trump stepped in, the recreational marijuana legalization became uncertain
.

American Green’s share worth went down by half, but they were able to regain the value of their shares after the announcement of acquiring the town Nipton. Though the share price has gone up, per share is still under a pennyworth, as for Bloomberg.