Eddie Armstrong served in the Arkansas House of Representatives from 2013 to 2017, as Minority Leader his final two years in office. A rising star in the political world, Armstrong’s name was attached to plenty of future campaigns, from running for mayor of North Little Rock, his hometown, to Congress.
Armstrong, though, saw opportunities elsewhere, especially as it relates to medical marijuana and cannabidiol, better known as CBD.
“I paid close attention to the evolution of healthcare and insurance during the Obamacare/Arkansas Works implementation process for our citizens,” he says about his time in the legislature. “I saw a need to position myself for the oncoming opportunity to be an advocate, educator, and business deal maker in the medical cannabis industry.”
So, to do that, Armstrong, and his wife Sherra, founded Cannabis Capital Group, a consultancy for the medical cannabis industry that is based in Chicago.
“We are still back and forth,” Armstrong says. “We are loving the Windy City, and Arkansas will always be our home.”
Little Rock’s Dr. Alonzo Williams is the company’s chief medical officer.
Williams, a one-time dental student, is a long-time gastroenterologist and owns Arkansas Diagnostic Center among other investments. There’s a bit of a family connection as Sherra is his daughter.
“He helped us start the new company, which is a natural for him because he is an accomplished physician and expert as well experienced investor and operator,” Armstrong says of his father-in-law. “Doc. can leverage deep insights to fully understand the potential and opportunities of new medical cannabis companies entering the marketplace.”
Indeed, Williams notes that the group has already successfully worked with clients to win operating licenses.
Armstrong says the work in Arkansas, “went extremely well” and adds, “We were able to witness firsthand the group that was able to attain the highest rated cultivation license application in the state.”
For his part, Williams says, “We are more than a medical cannabis business. We are a mission-driven community dedicated to cultivating the future of responsible medical cannabis through public advocacy and professional education.”
While Armstrong and his group have achieved early success, he expects more, much more, in the coming years.
“I see us expanding into more states that have legalized cannabis for medicinal use and growing CBD footprints,” he says. “In fact, we are currently conducting business in Missouri, Massachusetts, and anticipate even more success going forward.”
Armstrong says that was partly because of the nation-wide growth as more states adopt medical marijuana laws.
“It has been in the works for years now, but the current momentum is going at lightning speed,” he says. “We’re grateful to participate not only as contributors, but activists in this industry to provide responsible medical cannabis to individuals who are looking for alternatives to opioids and other harsher medications.”
It is more than just that, it is a fundamental change in how marijuana is viewed, Armstrong said.
“The fascinating trend playing out in state after state is the transition of cannabis from an illicit substance into a socially accepted one,” he added. “Medical legalization is the obvious first step, and most important. The power and versatility of cannabis and cannabis-derived medicines cannot be overstated. Today, we are witnessing the more difficult, but also very exciting transition from medical legalization to adult-use, or recreational, cannabis.”
Too much of a good thing can still be bad though and he addressed that.
“Like alcohol, moderation and responsible use are key,” Armstrong says. “Adult-use is the way of the future. My hope is that [my company] can act as a positive force in this industry, helping it to grow, but also cultivate a sense of responsibility, and respect for responsible use, in both industry players and consumers.”