Herbology Opening on Hold; Bold Duo Buys Sears Dispensaries

Herbology Opening on Hold; Bold Duo Buys Sears Dispensaries
Herbology, at 7303 Kanis Road in Little Rock, is housed in the former location of Joubert's Tavern. (Tre Baker)

Herbology, the first Little Rock medical marijuana dispensary to seek state inspection, didn’t make its Nov. 7 goal for opening, disappointing local patients still waiting to inhale.

General Manager Mykolas Sakevicius confirmed on Thursday that the medical cannabis shop at 7303 Kanis Road, which held a catered open house on Oct. 29, is still awaiting a final state inspection.

“The opening will be soon, but I have no idea on a specific date,” Sakevicius said in a phone interview. “We’re continuing with staff training and other preparations. I’d say we’re about 85% there.”

Pulaski County’s two other dispensary companies, Natural State Wellness in Little Rock and Natural Relief Dispensary in Sherwood, are still being completed and haven’t sought final inspections, according to Scott Hardin of the Arkansas Department of Finance & Administration.

Several Arkansas Cannabis Industry Association figures attended the open house, including Robert Lercher of the state’s first cannabis cultivator, Bold Team; CEO Brandon Thornton of cannabis testing lab Steep Hill Arkansas; and Adam Hodge of cannabis insurance specialist Growbrite Risk Management.

Bold Duo Buys Sears Dispensaries

Lercher, who is hoping to provide wholesale cannabis products to Herbology, is Bold Team’s customer service director. “We’re hoping to do some business,” he told a reporter munching on sugared bacon.

He also confirmed that his wife, Kyndall Lercher, already a 25.5% owner of the $8 million Bold Team cultivation center in Woodruff County, has bought a dispensary, Pain Free RX on Mallard Loop in Pine Bluff.

Lercher did not reveal financial details of the deal but also confirmed that another partner in Bold Team, COO and 24.5% owner Mark Drennan, has bought a Hot Springs dispensary, Suite 443, that recently changed its name after a legal dispute.

Both dispensaries were previously owned by members of the Sears family of Mayflower, who drew criticism for not revealing they were related in applications for state medical marijuana licenses.

Pain Free RX previously belonged to Don Sears; Suite 443, which was called Doctor’s Orders when it opened as the state’s first dispensary in May, was acquired from Don Sears’ wife, Frankie Sears.

Their son, Todd Sears, still owns THC RX in West Memphis, which has yet to open.

$17.5M in Sales; $170K in Taxes

More than 27,400 Arkansans have received medical marijuana cards from the state, and as of Nov. 3 they had purchased nearly 2,500 pounds of medical cannabis products for $17.5 million.

Hardin, the state spokesman, said the state had reaped nearly $170,000 in sales tax and special privilege tax revenues.The 6.5% normal state sales tax applies every time a patient purchases medical marijuana, plus a 4% privilege tax.