Dover Dixon Horne member, Randall Bynum recently spoke to Arkansas Business’s Kyle Massey regarding the list of who will own the companies in line to get licenses to operate the medical marijuana dispensaries the state approved.
Massey wrote, “Randall Bynum, an attorney representing Acanza Health Group, LLC, noted that his clients submitted the top two grades among all applications and were No. 1 in both Zone 1 (northwest Arkansas) and Zone 7 (southeast Arkansas).”
Bynum told Arkansas Business “We’re waiting on our award letter…. but the expectation is that we’ll have to decide between our sites in Pine Bluff and Fayetteville.”
Some applicants ranked in the top four in multiple zones, but the state law restricts license holders to only one license. This may allow lower ranking applicants a chance to still be awarded a license.
For example, if Mr. Bynum’s client Acanza Health Group chooses Fayetteville, the fifth scorer in Zone 7, would have a path to move up and claim a license.
Arkansas state law requires that each cultivation site and dispensary be at least 60% owned by Arkansans. “Applicants with award letters were also given seven days to pay a $15,000 license fee and post a $100,000 performance bond,” Bynum said.
The Arkansas Department of Health confirms over 6,600 Arkansas have been approved for their patient cards to buy medical marijuana.
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