American Green Inc (OTCMKTS:ERBB) shares jumped 35% to $0.00150 and were unchanged in after-hours trading. The company has a market cap of $20.87 million at 13.91 billion shares outstanding. Share prices have been trading a 52-week range of $0.00 to $0.01.
In a press release, American Green Inc shared that it purchased 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. This makes the company the first to buy an entire town for the purpose of marijuana business.
“We are excited to lead the charge for a true ‘Green Rush,'” says David Gwyther, chairman and president of American Green Inc. “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 company plans to set the standard of energy efficiency and environmentally responsible tourism in Nipton. It also 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. Down the line, it plans 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.
American Green Inc is a company that is engaged in the medical marijuana business, offering a line of products spanning from cultivation to tracking inventory for growers and dispensaries for medical marijuana. It also owns all of the rights to line of health supplements under the label OneBode.
The company offers retailing, branding and commercial cultivating strategies in conjunction with its business with various licensed medical marijuana medical and retail dispensaries. It has consulted with dispensary operators in California, Colorado, Washington, Oregon and Arizona. It is focusing on providing goods and services that operators of licensed nonprofit medical marijuana dispensaries in regulated environments require. It provides an array of compliance, financial, business development and management services. It is also developing a line of medical marijuana products that include custom packaging for pre-rolls, cured flower and solvent free extractions.