Ohrid Organics Ltd, the holding company, based in London is pleased to announce that its wholly owned subsidiary, Ohrid Organics DOO based in North Macedonia, has entered into a significant sales agreement with a licensed medicinal cannabis company in North Macedonia. The agreement provides for the supply of up to €4.5 million in GACP-compliant cannabis products over the next 12 months. This contract establishes a stable revenue foundation for the Company’s North Macedonian operations and is expected to deliver meaningful profitability, supporting reinvestment into strategic infrastructure expansion.
Proceeds from the agreement will directly contribute to the development of a significantly enlarged post-harvest facility, a key enabler in Ohrid Organic’s broader growth trajectory. This facility will support a phased increase in cultivation capacity, scaling from the current 6 x 500m² greenhouses to the full licensed footprint of 37 x 500m² greenhouses.
Concurrently, the Company is actively advancing toward GMP certification, with accreditation anticipated within the current calendar year. GMP status will further strengthen Ohrid Organics’ regulatory positioning and unlock broader international market access.
On the operational front, the cultivation division continues to deliver robust improvements across core performance indicators. The Company has exceeded its yield target of 150 kilograms per harvest, achieving over 160 kilograms in recent cycles. Additionally, two recent harvests recorded THC levels of 23.5% and 24.5%, well above the 22% target, reflecting ongoing optimisation of both genetics and cultivation processes. These results validate the commercial strength of the Company’s high-potency strains.
While 2024 presented a number of challenges, it also provided valuable learnings that have informed and strengthened our cultivation approach. Through careful refinement and continuous improvement, we have successfully introduced a high-performing base cultivar that is now delivering consistent yields exceeding 150 kilograms per harvest, with THC levels above 23.5%. The facility currently operates on a 20-day harvest cycle, and we are continuing to explore opportunities to enhance efficiency within the scope of the existing post-harvest infrastructure.
Completion of the expanded post-harvest facility is expected to significantly increase production throughput, operational efficiency, and bottom-line performance, positioning Ohrid Organics for sustained long-term growth and enhanced shareholder value.