A remnant of the California Gold Rush, the new owners of Nipton hope the tiny town is going to pot.
Nipton, with a population of six and located near the Nevada border, was bought by one of the first publicly traded companies to specialize in the legal cannabis, Fortune reported.
American Green purchased the 120-acre ghost town for $5 million and plans to transform it into a marijuana tourist destination, Forbes reported. It also plans to use it as a production hub for cannabis-based products -- starting with water infused with cannabidiol, also known as CBD.
The company sees Nipton as a ganja-paradise, Business Insider reported. American Green is hoping visitors might someday tour a marijuana farm, shop at the dispensaries and enjoy a smoke outside a marijuana-friendly bed-and-breakfast inn.
"The Cannabis Revolution that's going on here in the U.S. has the power to completely revitalize communities in the same way gold did during the 19th century," David Gwyther, chairman, and president of American Green said in a statement. "This acquisition allows us to channel the myriad interests in cannabis production and consumption for an immediate positive impact to this community's members and to cannabis consumers across the country."
American Green said it plans to spend $2.5 million over the next 18 months to expand the town, which comprises 80 acres of land -- plus another 40 that house solar facilities -- a trailer park, a small hotel, and a few stores, Forbes reported.
Stephen Shearin, consultant to American Green and general manager of the Nipton project, compared the future site to Disney's Epcot Center, Forbes reported.
"We want people to understand that this is a serious venture, with thoughtful business and community planning behind it, and not a fantasy or party zone," he said.
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