American Green, Inc. (ERBB:OTC) and CannAwake Corporation (CANX:OTCQB) are pleased to announce that they have completed the purchase of the solar power generating station in Nipton, California.
Scott Stoegbauer, CannAwake’s president, stated, “After months of very productive negotiations, I am proud to announce that we have finally closed on the purchase of the entire solar plant in Nipton. The deal, that has just now been finalized, transfers full ownership and complete control of the equipment, materials, services, and supplies associated with the solar generating installations on both sides of Nipton Road. My management team and we take our fiduciary responsibilities to our shareholders and other stakeholders quite seriously and, thus were able to negotiate a purchase price that was a fraction of the original $320,000+ installation costs.”
The company has already reached out to one of the original solar facility designers and installers and was successful in soliciting their help in bringing the solar generating plant back its original performance levels, and eventually beyond. We look forward to offsetting a significant amount of our monthly electric payments in the near future. As work on the solar equipment proceeds, the next priority is to enter into an Interconnect Agreement with Southern California Edison Company to ensure that Nipton is ready to go live the moment repairs are completed and the plant comes back online.
Mr. Stoegbauer added, “Make no mistake, the development of bringing clean green, sustainable energy back to Nipton is one of the first major steps toward achieving the company’s goal of obtaining a “Zero Energy Footprint” for our rapidly expanding town.”
Following last year’s successful purchase and the always-ongoing work of rejuvenating 100-year-old Nipton, CA (www.nipton.com), CannAwake Corporation continues to keep its corporate “eye” on other small towns with the intention to preserve their charm and history while evaluating their potential to infuse growth and revenue opportunities. for the town and for American Green. Every week, we are attracting, new, very interested, potential partners who wish to work with CannAwake and American Green to accomplish our company’s ongoing endeavors. Currently, the Company has a committed team of outstanding professionals living in Nipton and who are dedicated to making Nipton a unique tourist destination in California.
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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, Inc.
American Green, Inc., 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.