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Cannabis Cultivator Good Day Fares Well with $29M CapitalLock Icon

2 min read

You probably read the Whisper two weeks ago that broke news of a Newport medical marijuana cultivator’s sale to a group building a new $25 million home for it in Pine Bluff.

Now we have documents on a $29 million capital drive for the cultivator, Good Day Farm Arkansas LLC.

Formerly Natural State Wellness Cultivation, one of the state’s original five licensed cannabis growers, Good Day has put Clark Contractors of Little Rock to work on a 45,000-SF facility in Pine Bluff. And that expansion has new money behind it, according to a filing last month with the federal Securities & Exchange Commission.

The notice of exempt offering, or Form D, lists Alex Gray, Reid Dove and Eric Thornton as Good Day executives and directors and notes that $29.75 million in equity securities were sold in Arkansas, Alabama, Georgia, Mississippi, North Carolina and Tennessee.

Thornton is the principal with Ramsey Thornton Barrett Oborn PLC of Dickson, Tennessee, who got kudos from Jefferson County economic development chief Allison J.H. Thompson for homing in on the new cultivation site.

The new company, owned by more than 70 entities and individuals led by AMGMC Capital Investment LLC of Rogers with a 15.57% share, is putting $50 million into the Pine Bluff enterprise, Thornton said. He expects it to eventually employ about 200 people.

The cultivator is another economic development triumph for struggling Jefferson County, which recently hosted the grand opening of the Saracen Casino Resort and holds real hope for a $3.5 billion project — the largest in state history — that Energy Security Partners of Little Rock is planning for turning natural gas into clean diesel, jet fuel and naphtha.

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