New COO, Master Grower and strains for North Macedonian grower

Ohrid Organics has announced the first bulk sale of €450,000 of finished THC medical cannabis stock. Delivery is imminent and payment will be in advance of shipment. Further sales are expected to take place regularly and the company is in negotiation with a number of offtake customers in addition to its existing supply agreement with Canopy Growth which was announced in July 2024.

Under the terms of the agreement with Canopy Growth, Ohrid grows medical cannabis under license at its facility in North Macedonia for the German medicinal market.

Ohrid also announced the appointment of Chedo Dimoski as the company's new Chief Operating Officer. He has many years of experience in the THC medical cannabis sector. In addition, Ohrid has engaged Alexander Gavriloski as its new Master Grower.

Over this year, Ohrid has focused on expanding its growing facilities and has increased its cultivation space by 50%. It now has 6 x 500 meter greenhouses giving it 3,000 square meters of cultivation space. Even with this expanded capacity, it represents only 17% of Ohrid's licensed area. It has the capacity to build up to 37 greenhouses on its site producing up to 30 tonnes per annum from 20,000 square meters of cultivation space.

In addition, over the last six months, Ohrid has been trialing over a dozen new strains of medical cannabis from breeders in Canada – including some strains that have THC levels of over 30%. It is currently cultivating three strains commercially. The team has collected data on their performance in Ohrid's cultivation environment and is in the process of selecting the ones that can deliver their medicinal payload consistently. These genetics contain the building blocks of the modern wave of medical strains that are popular in all of the world's main markets as they are targeted at the main ailments that patients seek alleviation from.

Howard White, Founder & Director of Ohrid Organics, said: "Having overcome some early-stage genetic issues we are delighted with this first major sale of existing stock worth €450,000. With this major sale, combined with the new appointments and scaling up of our facility, Ohrid is in a great position and we are confident it will deliver its projected profits in 2025."