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US: Local investors sell Newport cannabis cultivation facility

A group of local investors in one of the first medical marijuana cultivation operations in Arkansas has sold their company to another investment group. The Arkansas Medical Marijuana Commission approved the sale of Delta Medical Cannabis on Dec. 2.
The company’s cultivation facility is located in Newport, and Jon Chadwell, director of the Newport Economic Development Commission, said Delta has been a good part of the community.
 
“They hired a number of local folks, and there are local folks in the upper management of the operation, so we get to visit with them and it has just worked out really well,” Chadwell said Friday. He said representatives of the new ownership group have assured him the operation would remain in Newport, “so we feel pretty comfortable with it.”

The new owner is Revolution DMCC Acquisition Corp. of Jonesboro. According to documents provided by the marijuana commission, Dustin Shroyer of Jonesboro owns 37.5 percent of the new venture, while Tamika S. Edwards, a Little Rock attorney, owns 62.5 percent.

To read the complete article, go to www.jonesborosun.com


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