Ownership consolidation continues in Arkansas’s cannabis sector as the Trulove family increases their medical marijuana investments. On Thursday, state regulators approved Jessica Trulove’s acquisition of Revolution Cannabis, a cultivation facility located in Newport. Jessica is married to Matt Trulove, who holds a 20% stake in Osage Creek Cultivation in Berryville, while his mother, Mary Trulove, owns 55% of that business. The remainder is divided among other family members.
Additionally, Jay Trulove, Jessica’s father-in-law, fully owns Osage Creek Dispensary, which recently received state approval to relocate from Eureka Springs to Springdale. This marks Jessica’s second significant purchase in the cannabis market; last year, she bought Enlightened Cannabis for People, a dispensary in Clarksville.
Jessica’s attempt to buy Revolution Cannabis was initially on the commission’s agenda but was withdrawn before consideration. The previous owners of the Newport facility were Tamika Edwards from Little Rock and Dustin Shroyer from Illinois.
In other news from the Arkansas Medical Marijuana Commission, a minor ownership change was approved at Custom Cannabis in Alexander. Donna Mooney will transfer half of her 10% ownership to Donald Keith Mooney following a property division due to divorce. The commission also conducted annual renewals for all state dispensaries, cultivators, and processors, with only one pending approval for next month.
The commission further addressed a request from attorney Michael Langley, representing The Source dispensary in Rogers. He urged the commission to retract its earlier decision allowing Osage Creek Dispensary’s move to Springdale, arguing that insufficient notice was given. However, Alcoholic Beverage Control Director Christy Bjornson confirmed that all rules were adhered to during the process. Bjornson and commission Chair James Miller agreed to review the regulations regarding such relocations at the next meeting.
The Arkansas Medical Marijuana Commission’s upcoming meetings are scheduled for June 5 and July 10 at 2 p.m.
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