AR approves medical cannabis dispensary scores, advancing licensing process

Arkansas regulators are notifying 32 medical marijuana dispensary license winners statewide, after the Medical Marijuana Commission unanimously approved the final scores produced by an independent evaluator.

The top four scores in each of eight regions will receive the letters, but before the winning companies are awarded an actual dispensary license, they must pay a $15,000 licensing fee and post a $150,000 performance bond within seven days, according to Scott Hardin, spokesman for the Arkansas MMJ program.

The state received roughly 200 applicants.

In addition, companies that had one of the top four scores in more than one zone must choose which they want to operate in. In those zones they do not choose, the license will be offered to the fifth-highest-scoring applicant, Hardin said.

Little Rock TV station KARK listed the applicants that will receive the letters in the next few days. The final scores of all the applicants can be found here.

Here are some details surrounding the situation:

  • Out-of-state investors were allowed to apply, but the rules require each ownership group to consist of 60% Arkansans at a minimum, Hardin said. For example, if 10 investors are equally invested in a company, then six of them must be Arkansas citizens.
  • The launch of Arkansas’ MMJ market has been hampered by legal and licensing delays but now looks poised to move forward.
  • Boston-based Public Consulting Group was hired last summer to individually evaluate and score the applicants.
  • In July, the commission awarded five grower licenses, so some product is expected to be ready for sale in the state by this spring.

As in other MMJ markets nationwide, banking is an issue.

Only one bank, the HomeBank of Arkansas, is willing to do business with the state’s medical cannabis companies, Little Rock TV station THV reported.

3 comments on “AR approves medical cannabis dispensary scores, advancing licensing process
  1. jd on

    i often say”by damn if they(nay say-ers and people of power and influence) had loved ones who were sick,dying ,and suffering…BUY DAMN THEY”ED CHANGE THEIR MINDS ABOUT MMJ”….here is proof,,,a banker who had a sick family member….who woulda thunk it….another example of how GOD gives us our blessings ,sometimes covertly……..

    Reply
    • John Q. Public on

      That banker is looking at dollar signs. The feel-good story about his dad is just a cover. From the looks of his office and facilities, he’s in relatively bad shape. That’s why he’s willing to take the risk of the feds…he doesn’t have as much to lose as the more established banks.

      Reply
  2. Baby on

    MMJ CBD is good for All Economies if THE PEOPLE KEEP IT HONEST. that means Dispensaries working together and along with Lawmakers. Establish a connection , and Be 100% honest with Honest Lawmakers, and its a Win Win Situation. Otherwise Gov will mess everything up.

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *