Arkansas announces first medical marijuana dispensary licenses

Prices dropping? Rent rising? Get practical insights and proven strategies for running a successful cannabis retail operation with the MJBizDaily Retail Strategy Buyers Guide. Download your free copy. 

Arkansas issued its first six licenses for businesses to sell medical marijuana in the state, another welcome development for cannabis company owners that have waited for the program to roll out since voters approved it in 2016.

Sales aren’t likely to begin until April at the earliest.

The Arkansas Department of Finance and Administration (DFA) said six of the 32 dispensaries the state’s Medical Marijuana Commission had announced it would license have paid the $15,000 licensing fee and posted the $100,000 performance bond.

A DFA spokesman said the department anticipates the remaining companies will continue to pay and post the bond over the next week.

The dispensaries can begin building or preparing facilities but must pass a final inspection before they can open.

One of the five cultivation facilities licensed by the state earlier this month was the first get approval to begin growing medical marijuana. It said it expects to have MMJ available for dispensaries in April.

Associated Press and Marijuana Business Daily