Marijuana Dispensary Raises Seed Money for WLR Move

Good Day Farm is moving from its current space at 900 S. Rodney Parham Road in Little Rock to a new location in this center at 11600 Chenal Parkway.

You might have seen that a Little Rock marijuana dispensary is moving.

But did you know that Capital City Medicinals LLC, which does business as Good Day Farm Little Rock, recently raised $6.2 million of a total offering amount of $8 million?

Alex Gray, an owner of Capital City Medicinals, said the money raised will be used for renovation and a move to 11600 Chenal Parkway, Suite 1. It is expected to open Nov. 1.

Gray said the Chenal location has more parking.

“That’s an issue with our current space” at 900 S. Rodney Parham Road, he said. “There’s just not a lot of parking, not a lot of visibility. … It’s really kind of hard to find.”

The new location is close to the Purple Cow restaurant and the bookseller Barnes & Noble in west Little Rock.

The move will “make it more convenient for the patient,” Gray said.

Some of the money raised also will go toward “capitalizing the business” and paying off the license purchase for the dispensary that it bought in November from Natural State Wellness Dispensary for a price that wasn’t disclosed.

Natural State Wellness Dispensary was licensed in January 2019 and operated as Harvest House of Cannabis and Little Rock House of Cannabis.

Capital City’s filing at the Securities & Exchange Commission shows that the types of securities offered were equity, debt and option, warrant or other right to acquire another security. The filing also said there were 11 investors who have put money into the offering.

Other owners of Capital City Medicinals are Alex Gray, Nate Steel and Lauren Steel.