After Coming Up Short On Funds For Cannabis-Themed-Resort, Firm Sells California City
Now, plans for the marijuana mecca are uncertain. American Green sold Nipton, once a booming mining town on the edge of the Mojave desert, to Delta International Oil & Gas, a company that's previously focused on buying properties for exploratory drilling.
The Associated Press:
Company Sells Calif. Town It Planned To Make Marijuana Mecca
Could plans to turn an old California ghost town into a marijuana mecca be going up in smoke? Cannabis technology company American Green, which bought Nipton for $5 million last year, has sold it to another company for $7.7 million, acknowledging it struggled to raise the money needed to remake the old desert mining town into a pot paradise. (3/26)
In other news —
Orange County Register:
Costa Mesa Set To Allow Manufacturing, Distribution, Testing Businesses For Recreational Marijuana
Costa Mesa will likely soon become the first Orange County city to allow businesses to manufacture, distribute and test recreational marijuana. ...The City Council on March 20 voted 5-0 to expand the program to include recreational marijuana. It will have to vote a second time on April 3 for the new rules to take effect for that same area of Costa Mesa. (Shimura and Staggs, 3/26)