State regulators announced the five companies that will be licensed to produce medical marijuana.
On Tuesday, state regulators in Arkansas announced the five companies they will license to produce medical marijuana. This represents the first step towards passing Arkansas’ medical marijuana agenda.
Although it is anticipated that the state Medical Marijuana Commission will license as much as 32 companies to distribute the marijuana, the state has only released information concerning the top applicants for production.
These five companies are:
- Natural State Medicinals Cultivation in Jefferson County
- Bold Team LLC in Woodruff County
- Natural State Wellness Enterprises in Jefferson or Jackson County,
- Osage Creek Cultivation in Carroll County
- Medical Cannabis Company Inc. in Jackson County
The companies have one week to pay a $100,000 licensing fee and $50,000 performance bond to receive the license.
An investor in Natural State Wellness, former Attorney General Dustin McDaniel, stated that the company will decide within 24 to 36 hours which location they will license. The company has applied for two locations, one in Jefferson County and one in Jackson County, but they are prohibited from operating two facilities.
McDaniel stated that the public trust placed upon their company to produce quality, safe, and legal medicine for Arkansas patients is greatly appreciated.
“We will make a location decision shortly and will promptly begin construction.”
Donald Parker from Delta Medical Cannabis has announced that the company has land currently under construction in Newport, and is excepting their facility to be in operation either later this year or early into next year
“We’re building a state of the art facility from the ground up.”
Arkansas received approximately 95 applications from those interested in being marijuana producers. The applications were rated by the members of the commission based on many different statistics. On March 14, the members will reconvene and formally grant licenses to the companies that are in alliance with the requests.
In addition, more than 4,000 applications for persons to use medical marijuana have been approved by the state. Those who have been approved would receive registry cards before medical marijuana is legally available.
Corey Hunt from the Arkansas Cannabis Industry Association stated that they wanted everyone to really understand what the real story is. It’s not about five businessmen that are going to make a lot of money. He said,
“It’s about these patients here who fought years and years and years.”
The proposition coming from the supporters incorporated qualified therapeutic conditions and permits students to utilize medical marijuana and non-smokeable types of marijuana on school grounds.