A Hot Springs dispensary facing the revocation of its license will ask state regulators on Thursday for approval to sell the store to the owner of a Hot Springs medical marijuana cultivator.
Green Springs Medical dispensary will ask the state Medical Marijuana Commission tomorrow to approve a temporary renewal of its license and to approve a sale that will remove sole owner Dragan Vicentic from its ranks and bring on Carla McCord as owner.
McCord owns 60% of Leafology, a medical marijuana cultivator in Garland County.
Thursday’s commission meeting follows Vicentic’s hearing before the state Alcoholic Beverage Control Board, which began a little after 9 a.m. today. Vicentic faces allegations that Green Springs Medical violated a number of state regulations, including selling more than 1,800 products with expired lab tests.
According to a letter from McCord to the commission, she would purchase all of the dispensary’s assets and the property, but she would not be responsible for any fines to the ABC or the Medical Marijuana Commission.
The documents did not include a price for the transaction, but McCord’s redacted letter referred to the purchase price as “(redacted) million dollars.”
McCord’s letter, which was also signed by Vicentic, included a five-year non-compete provision for Green Springs and its members. Vicentic is the sole owner.
Vicentic has been in hot water with the ABC over repeated violations, culminating in a revocation hearing before the ABC Board this morning.
In a letter dated May 2, ABC Director Christy Bjornson said the dispensary’s actions were reckless and that revocation was the only remedy.
Vicentic appealed the revocation, which automatically stayed the decision until the ABC Board could hold a hearing to consider the matter. The dispensary has stayed open as the store’s appeal has been in the works.
Last week, Vicentic’s lawyer said he needs more time to prepare his client’s defense and asked to delay the hearing. Chip Leibovich, a staff attorney at ABC, said the ABC would oppose a delay unless the dispensary agreed to close in the meantime. Only the ABC Board has authority to delay the hearing.