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Khiron Obtains Good Storage Practices Certification In Peru, Welcomes Cannabis Regulations

Khiron Obtains Good Storage Practices Certification In Peru, Welcomes Cannabis Regulations

Vertically integrated cannabis company Khiron Life Sciences Corp. (TSXV: KHRN), (OTC: KHRNFannounced Monday that it has obtained Good Storage Practices certification in Peru.

The company acknowledged new regulatory guidelines for the medical cannabis program in Peru issued by the country’s Ministry of Health. The regulations lay out the precise steps needed for attaining medical cannabis licenses for import and commercialization. 

The new instructions require cannabis businesses to first present security protocols to the Anti-Narcotics Unit of the Ministry of Interior. Once security protocols are approved, companies can submit a license application for final approval.

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Khiron submitted its security protocols in November and is awaiting approval that will allow it to submit the final application for its medical cannabis products. Obtaining Good Storage Practices certification was a crucial prerequisite for application, according to Khiron. 

"The recent regulatory guidelines released by the Ministry of Health signal that the commercialization of medical cannabis is an imminent reality for Peru,” Juan Diego Alvarez, vice president of regulations at Khiron, said in a statement.

“With our receipt of GSP certification, submission of security protocols and a strong cash balance, Khiron is firmly positioned to capitalize on market opportunities, and to participate meaningfully in the country's cannabis industry. We are incredibly excited to bring our cannabis products to Peru."

Khiron Price Action 

Khiron shares were trading 2.04% higher at 71 cents at the time of publication Monday. 

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