Fourtwenty Collections– David Bell Photo/Gila Valley Central
SAFFORD — Just a few days before a planned grand opening ceremony, the holder of the license to operate Graham County’s medical marijuana dispensary announced she is divesting her company from the license.
In a prepared statement issued Monday, Marvina Thomas, founder and CEO of Fourtwenty Collections, said she was divesting from the Safford operation as part of a “revised strategic plan aimed at ensuring long-term health and steady growth for her expanding company.”
“I am grateful for the continued support of our customers, partners, and associates and look forward to further strategically expanding Fourtwenty Collections in order to make a difference in my community,” Thomas said.
The release states Thomas will continue to operate a dispensary in Las Cruces, N.M., where she owns and operates a vertically-integrated facility with retail, cultivation and manufacturing for medical and adult-use consumers. Thomas will further expand white-labeling capabilities at that location.
And she is a stakeholder in a property being refurbished and zoned for an adult-use dispensary in Phoenix.
The release states the Safford location, on U.S. Highway 70, will remain open and operate under license holder Arizona Wellness Center Safford LLC. The grand opening originally set for Friday, July 7, has been postponed.
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