Story highlights Nipton, California purchased by marijuana company

American Green wants to open weed "eco-tourism" site

(CNN) Don't be surprised if there is a sign one day on a small California town that reads "Welcome to Nipton: A Place to Get Stoned."

The entire town of 120 acres was purchased Thursday by American Green Inc ., a marijuana focused technology and growing firm based in Arizona. The reported price tag: about $ 5 million.

The company plans to make Nipton the country's "first energy-independent, cannabis-friendly hospitality destination," American Green said in a statement.

Nipton is near the Nevada border, about an hour's drive from Las Vegas and over three hours from Los Angeles. The town has a hotel, general store and schoolhouse. Nipton has its roots in gold and silver mining along with ranching.

Only about 16 people live there.

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