We’ve been tracking Dewmar International BMC Inc (OTCMKTS:DEWM) for quite some time, since the company announced the signing of a licensing agreement with KW Brands, LLC of Louisiana for the purpose of operating Willie’s Duck Diner, owned by Willie Robertson, the star of A&E’s “Duck Dynasty.”
The stock has been rebounding in the month of August so far, and there have also been some updates on the company’s activities in the medical marijuana space.
Dewmar International BMC Inc (OTCMKTS:DEWM) has announced that it partnered with a long-standing Arkansas company in a joint effort to see a cannabis cultivation and dispensary permit to be issued during fourth quarter of 2017.
The Arkansas Medical Marijuana Commission is responsible for awarding licenses for the operation of medical marijuana cultivation facilities and dispensaries pursuant to Amendment 98 of the Constitution of the State of Arkansas of 1874. Amendment 98, also known as The Arkansas Medical Marijuana Amendment of 2016 was voted in by the citizens of Arkansas in November 2016 with a majority vote.
The commission anticipates issuing five (5) cultivation facility licenses and thirty-two (32) dispensary licenses with a maximum of four (4) dispensary licenses in each of the eight geographic zones. Dewmar and its Arkansas affiliate plan to apply for two dispensaries in different zones while singling out one specified location for a cultivation facility.
“Both myself and/or a representative of Dewmar have spent considerable time in Arkansas since December becoming familiar with the business and political landscape within the state. We were fortunate enough to have hired one of the top lobbyists in the State to help us with our goals in Arkansas. His contacts and the introductions he has provided led to my being a guest speaker on the topic of medical marijuana at a local town hall meeting earlier this summer,” said Dr. Marco Moran, CEO of Dewmar International.
Each Request for Application in Arkansas requires that each out-of-state applicant partner with a 7-year resident of the State. As it relates to the scoring process, the more business experience that the resident has within the State, the better. Dewmar’s partner has maintained a large, successful statewide business for over 20 years and has generated many millions of dollars of revenue annually. At this time, Dewmar will not disclose the name of its partner in order to maintain a competitive advantage throughout the application process, which ends on September 18, 2017.
“Over the past nine months, I have met with many of the great people and political leaders in Arkansas. As I have listened to them describe their vision of cannabis cultivation in the State, I believe they have designed a thoughtful and responsible approach to introducing cannabis to its qualified patients,” said Dr. Moran. “We bring capital, jobs, community service, technology and training to the table and we believe this comprehensive offering solidifies our chances to be awarded a cultivation and dispensary license by the State of Arkansas,” Dr. Moran continued.
If successful, Dewmar expects to utilize its existing HBCU collaboration with MJardin and GHD to include University of Arkansas at Pine Bluff School of Agriculture to pursue significant opportunities through our continued work with the cannabis plant including new medicines, new consumer goods, advanced crop technology and job creation with the State’s new Arkansas Industrial Hemp Act, also referred to as House Bill 1778. (Source: Marketwired)
We’ll be interested to track the status of the company’s applications in Arkansas as well as it various other projects in the works.Stay locked to Street Register for updates, and we’ll deliver important developments on DEWM as they unfold. In the meantime, if you’ve yet to sign up for our 100% free newsletter, do so now! Just enter your active email address into the box below and submit!
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in DEWM stock, short or long.