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Good Day Farm’s Alex Gray Tells the Rest of the Story About Legal Marijuana

3 min read

As chief strategy officer, Alex Gray leads mergers and acquisitions activities as well as the strategic expansion of the brand portfolio of Good Day Farm, a cultivator of medical marijuana. He is a veteran attorney focused on highly regulated industries, including cannabis, administrative law and gaming. Gray has helped more than a dozen dispensaries and cultivation facilities in complying with state cannabis rules and regulations and has won several applications for medical marijuana dispensary licenses.

A Tennessee native, Gray has a bachelor’s degree from the University of Tennessee and a law degree from the University of Arkansas at Little Rock William H. Bowen School of Law.

While at the Bowen School of Law, Gray was managing editor of the Law Review.

Could you describe your role in the marijuana business, both as an attorney and otherwise?

I previously represented more than a dozen dispensaries and cultivation facilities in complying with state cannabis rules and regulations. In that role, I met numerous industry executives, and those relationships provided the foundation to my current role as the chief strategy officer at Good Day Farm.

During the last year, we have entered three markets (Arkansas, Louisiana and Missouri) and plan to continue our strategic expansion in 2022.

Should recreational marijuana be legalized in Arkansas?

Times have certainly changed, and whether Arkansas should adopt an adult-use program is ripe for consideration.

The medical program has successfully provided patients across the state with safe, effective medicine to treat a variety of ailments. Despite concerns that the medical program would result in unforeseen consequences, that has not been the case.

People should have the opportunity to vote on an adult-use program and, if the majority of the state wants it, it should be legalized. Whatever path the people of Arkansas ultimately choose, Good Day Farm is prepared to supply the region with an abundant selection of cannabis products in a diverse range of formats.

If it is legalized, what will be the effects on the MMJ market?

Arkansas currently has more than 80,000 medical cannabis patients, and I anticipate that the adult-use market would significantly expand the number of customers and opportunities in the industry. This would result in significant economic development across the state, creating thousands of jobs, hundreds of millions of dollars in private investment, tax revenue to cities, counties and the state, and expanded access to customers.

Additionally, opening up the adult-use market in a responsible way would create further opportunities for those hurt by the failed war on drugs to participate in the legal industry in a meaningful way.

You’re an attorney. Why is marijuana still illegal at the federal level but permitted by Arkansas and other states?

Cannabis is still classified as a Schedule 1 drug at the federal level. The federal government has declined to fund any enforcement of federal laws on compliant state licensees and patients or customers. As a result, states are allowed to implement and regulate their own medical or adult-use programs. This creates a unique, and often disjointed, set of laws and regulations, which in turn creates both legal challenges and valuable business opportunities.

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