Firm Plans to Purchase Bristol Mall and Lease It to Cannabidiol Oil Producer in Virginia

A Bristol firm called Par Ventures Inc. announced plans to purchase the vacant Bristol Mall and lease space to Dharma Pharmaceuticals.

Cannabis Plant Adobe Stock Credit Aleksandr Resized

BRISTOL — A local firm’s bid to secure state permission to grow cannabis and produce and distribute cannabidiol oil, or CBD, at the Bristol Mall must undergo a thorough review by the Virginia Board of Pharmacy.

Last Friday, a Bristol firm called Par Ventures Inc. announced plans to purchase the vacant Bristol Mall and lease space to Dharma Pharmaceuticals, another local firm that intends to apply for a state permit to grow cannabis plants and harvest the oil, under provisions of a 2018 state law. CBD isn’t considered a psychoactive drug, meaning users don’t get high because tetrahydrocannabinol, or THC, levels are low.

The application deadline is 2 p.m. June 8.

Reader reaction to the Bristol Herald Courier’s exclusive story Saturday on the plans was generally positive, as the owners talked about creating hundreds of new jobs at the former mall, which closed last year but hemorrhaged tenants for the past three years.

Last month, the Virginia Department of Health Professions, through the pharmacy board, began accepting applications for pharmaceutical processors. The three-step review includes submission of the initial application, awarding of conditional approval and granting the permit, according to the agency’s website.

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Top Image: © Aleksandr | Adobe Stock

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