August 03, 2017 07:45 ET
PHOENIX, AZ--(Marketwired - Aug 3, 2017) - Today American Green, Inc. (OTC PINK: ERBB) has announced its purchase of the town of Nipton, California, a 100-year-old community in San Bernardino county, and intends to modernize it into the country's first energy-independent, cannabis-friendly hospitality destination -- all while retaining its historic look and value. As the second oldest and the largest publicly-traded cannabis company in the US (with over 50,000 certified shareholders), American Green is the first company to buy an entire town for the purpose of capitalizing on the emerging cannabis tourism industry. Many of Nipton's current and past highlights can be viewed at www.nipton.com.
With over 120 acres of potential for development and just 10 minutes off of busy Interstate 15, American Green has taken the first step to transform Nipton into an effective hub for the production of various cannabis-based products as well as possible fully-licensed cultivation which includes a safe and appropriate approach to consumption. Located on the border between California and Nevada, the town is strategically positioned on the railway line going from Los Angeles through Las Vegas to Salt Lake City and beyond.
Initially, American Green and Nipton will focus on the bottling of fresh CBD-infused water direct from a nearby aquifer which the company will then seek to distribute throughout California (https://americangreencbd.com/faq/). Discussions are underway with several well-established edible and extraction companies that have expressed interest in having production facilities in the town as well -- all done paying strict adherence to regulatory guidelines. Ultimately, the company would like to offer a variety of commercial and recreational attractions including: 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. Company officials hope that this project will help to catalyze job creation and development within the town and surrounding communities, making Nipton a model for the cannabis industry's role in stimulating and accelerating the rebuilding of struggling small town economies throughout the US where cannabis products have been legalized.
Nipton's future plans include setting the standard for energy efficiency and environmentally responsible tourism. American Green intends to expand the existing solar farm, to move Nipton toward becoming a completely energy-independent town, including the development of the town's existing aquifer system for water supply. American Green anticipates job creation will occur naturally in building and development, as well as tourism, agriculture, entertainment, transportation, retail and more, presenting new opportunities for innovation and entrepreneurship. The company's management remains open to ideas, suggestions, partnerships and more as it moves the project forward and encourages its 50,000+ shareholders to contact the company through its website to suggest Nipton's future improvements (www.americangreen.com).
"We are excited to lead the charge for a true 'Green Rush,'" says David Gwyther, chairman and president of American Green. "The Cannabis Revolution that's going on here in the US, has the power to completely revitalize communities in the same way gold did during the 19th century. 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. As industry leaders since 2009, we are thrilled to begin work on this first-of-its-kind eco-tourism experience for conscious cannabis consumers."
"The Nipton Project has the potential to be one of the biggest initiatives any of us at American Green have undertaken. The project holds great possibilities for our company and for the cannabis industry as a whole," says Pat Carrigan, Chief Operating Officer at American Green. "It took the company over 4 months of negotiation with the town's owners to get us here. Even so, the real work begins now. We are ready, willing, and able to accept the challenge at hand."
With the recent introduction of American Green's proprietary Age and ID verifying vending platform known as AGM -- the world's most advanced smart-vending operating system featuring biometric verification -- American Green has again proven it is viewing the future of legal cannabis in America from a "50,000 foot view." "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," concluded Mr. Gwyther.
Be sure to visit the company's website at www.americangreen.com and sign up for the company's EMAIL ALERTS to stay current on news. In addition, shareholders and other interest holders are invited to join the conversation about American Green found here: https://otc.watch/groups/american-green-inc-erbb/forum/
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NOTES ABOUT FORWARD-LOOKING STATEMENTS
Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in the Company's Securities and Exchange Commission reports and filings. Certain statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward-looking statements may identified by words such as estimates, anticipates, projects, plans, expects, intends, believes, be should and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which they are made.
About American Green, Corp.
American Green, Corp., became, in 2009, one of the first publicly traded technology companies in the cannabis industry. Now, with over 50,000 individual shareholders, more than any other company in the cannabis sector, American Green's mission is to lead the cannabis industry. Leveraging our team of professionals in cultivation, manufacturing, extraction, wholesale, retail, and community outreach, we strive to develop sustainable initiatives, while increasing shareholder value and company profit.
American Green, Inc.
2902 W. Virginia Ave.
Phoenix, AZ 85009