LITTLE ROCK, Ark. (AP) The Arkansas Department of Finance and Administration says so far two businesses have applied for a license to grow medical marijuana and five have applied for licenses to sell it.
The Arkansas Democrat-Gazette reports that Arkansas State of Kind became the first medical-marijuana business applicant to go public Thursday. The business seeks both a dispensary and cultivation license.
Chief executive officer of Arkansas State of Kind, Jason Martin, says he expects to being selling medical marijuana in mid-2018 if both licenses are approved by the end of the year.
Arkansas State of Kind plans to grant franchises to independent owners of other dispensaries.
Under the Arkansas Medical Marijuana Amendment, investors can’t own an interest in more than one cultivation facility or dispensary.
The state doesn’t plan to release the other applications until the Sept. 18 deadline.
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