American Green, a publicly traded cannabis company, said it's bought an entire town in southern California so it can build what it hopes to become the country's premier marijuana-friendly, self-sustaining tourist destination.
Nipton owner Roxanne Lang says escrow hasn't closed yet.
According to American Green employee Stephen Shearin, the move will show "that there was a viable means of having a cannabis-friendly municipality and further making it energy independent", adding that the purchase and creation of Nipton as a pot-friendly village may inspire others to do the same, cited by Bloomberg.
As Business Insider reports, the town of Nipton was once the center of what locals call the "green rush" (as in, the weed version of the early American "gold rush" in California). But Lang said by the time her late husband Gerald Freeman, a Los Angeles geologist, discovered the place in the 1950s it was already a ghost town.
But that solitude may not last much longer, with the company planning to reach out to pot-industry businesses, hoping they'll be interested in relocating to Nipton and bringing jobs with them.
"We are excited to lead the charge for a true 'Green Rush, '" said David Gwyther, chairman and president of American Green after the announcement that it had acquired the century-old community.
"The cannabis revolution that's going on here in the United States has the power to completely revitalize communities in the same way gold did during the 19th century", Gwyther enthused, cited by the BBC.
Nipton, CA (population 20), located on the border of California and Nevada, is a remnant of the California Gold Rush.
The company purchased the 120-acre property, which includes a general store, a hotel, a school building and mineral baths, for about $5 million and plans to spend an additional $2.5 million to improve the town's infrastructure and expand the solar energy plant.
He transformed it into an eccentric destination for desert aficionados.