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South American Gold Corp Pursues Cultivation License in the State of Arkansas
South American Gold Corp Pursues Cultivation License in the State of Arkansas.
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[{"type":"text","content":"\n \n \n South American Gold Corp Pursues Cultivation License in the State of Arkansas\n \n \nSouth American Gold Corp Pursues Cultivation License in the State of Arkansas\n \n LAS VEGAS, NV--(Marketwired - Mar 16, 2017) - South American Gold Corp (OTC PINK: SAGD) is announcing today that it has filed with the Secretary of State for the State of Arkansas for the creation of a new subsidiary.\n SAGD, under the signature of the President & COO as original incorporator on behalf of the Company, has filed the Articles of Incorporation with the State of Arkansas to form Arkansas Medical Cannabis, Inc. The company's reasoning for filing this corporation is to properly prepare in advance for the opportunity to apply for a Cultivation License.\n SAGD President & COO, David Reeves, stated, \"This filing is another step towards our new vision. We are on top of the changing proposed rules within the State of Arkansas, and we feel we should be able to meet all the present proposed requirements needed to be considered for a medical cultivation license within the state, when we submit our application.\"\n On November 8, 2016, the voters of the State of Arkansas voted to pass Issue 6, creating an amendment to allow the legalization of medical marijuana. Since that date, the Department of Health has set up the commission and issued proposed rules for medical marijuana in the State. According to the present proposed rules, applications will be released on June 2, 2017.\n The State of Arkansas is presently proposing to issue a minimum of 4 and up to 8 cultivation licenses. Arkansas is also presently proposing to issue a minimum of 20 and up to 40 dispensary licenses. The present proposed rules in the State of Arkansas allow for a Cultivation License Holder to also hold a license for a single dispensary.\n Mr. Reeves, added, \"According to the present prosed rules, one of the biggest hurdles we see for a company to apply is obtaining an Arkansas partner/individual with 7 years of consecutive state tax returns to lead the application for license. However, we have, who we believe is the right person for us, in Mr. Don Latourette.\"\n SAGD has appointed Mr. Don Latourette to the position of President of Arkansas Medical Cannabis, Inc., and Mr. Latourette shall also hold the position of Operational Manager for the Company's Cultivation Divisio...