An Updated Look at Medical Marijuana Ownership in Arkansas


An Updated Look at Medical Marijuana Ownership in Arkansas
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In conjunction with this week’s feature on the controversial history of medical marijuana business licensing in Arkansas, Arkansas Business sought out an update on the precise ownership of the state’s eight cannabis cultivation licensees.

Here’s the list, from the Arkansas Department of Finance & Administration, parent agency of the Alcoholic Beverage Control Division, which enforces medical marijuana production regulations as well as rules on alcohol sales:

1. Delta Medical Cannabis of Newport, dba Revolution Cannabis

  • DSMS Ventures LLC (owned 100% by Tamika Edwards), 62.5%
  • Revolution Ventures AR LLC (owned 100% by Dustin Shroyer), 37.5%

2. Carpenter Farms of Grady 

  • Carpenter Medical Group LLC, 65% (The entity is owned by Abraham Carpenter, 99%, and Bobbie Carpenter-Clark, 1%.)
  • William H. Murphy Jr., 11.67% 
  • William H. Murphy III, 11.67%
  • Seth Murphy, 11.66% (The Murphys’ ownership is held under South Street Medical Holding LLC.)

3. Leafology of Hot Springs (formerly New Day Cultivation)

  • Carla McCord, 70%
  • Nick Landers, 20%
  • Charles Singleton, 5%
  • Sherman Tate, 5%

4. Bold Team of Cotton Plant

  • Danny Brown, 24.5%
  • Misty Drennan, 25.5%
  • Mark Drennan, 24.5%
  • Kyndall Lercher, 25.5% 

5. River Valley Relief of Fort Smith

  • Bennett “Storm” Nolan, 73.333%
  • Oliver Kane Whitt, 26.667%

6. Good Day Farm Arkansas LLC of Pine Bluff

The company has well over 100 owners, including scores with less than a 1% stake. Here are the top 10 stakeholders.

  • Reid Dove, 8.5%
  • Joe Courtwright, 8.5%
  • Wendy LaFrance, 8.5%
  • John Stephens, 3.8%
  • Warren Miles Stephens, 3.8%
  • Laura Stephens, 3.8%
  • Kimberly Brockinton, 2.8%
  • Marcia Cole, 2.55%
  • Brian Faught, 2.12%
  • Terry Barnes, 1.8%

7. Natural State Medicinals of White Hall

  • Susan Diane Williams, 28.4%
  • Alonzo Dean Williams Sr., 16%
  • Kathryne Deane Peck, 14.2%
  • Donna Mae Mooney, 14.2%
  • Robert Wayne deBin III, 8.4%
  • Clifton “Cliff” Bolen Peck IV, 8%
  • Donald Keith Mooney, 8%
  • Donna Ann Terrell, 2.2%

8. Osage Creek Cultivation of Berryville

  • Mary Trulove, 55%
  • Matt Trulove, 20%
  • Brad Trulove, 20%
  • Jay Trulove, 5%


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