Company Abandons Plans to Create Marijuana Paradise in California

Last year a company bought an entire town in California hoping to turn it into a cannabis paradise. But much like John Milton's epic poem, it appears that is now "Paradise Lost."

American Green purchased the town of Nipton, California last year hoping to transform it into the ultimate marijuana destination. However, the company says they could not raise enough money for what they planned to build in Nipton, and recently announced that they had sold the city.

The company originally planned several luxurious cannabis-based businesses, including CBD bathes, marijuana retail businesses, culinary events and wanted to make the city a hub for cannabis production. But it appears their eyes were bigger than their stomachs.

American Green originally purchased the town for $5 million last year. They sold it to Delta International Oil and Gas for $7.7 million. The sale does include an agreement that Delta continue plans to transform the town, although it's unclear if those new plans will include any cannabis-related ventures.

Luckily, there are still plenty of places in California to get marijuana.

(h/t Fortune)

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