Licensed medical cannabis cultivation and manufacturing

Folium is unique. The business leverages the regulated but, since 2016, permissive legal environment in North Macedonia to grow and process medicinal cannabis. It is already in licenced production with a small but highly scalable facility staffed by agro-industry and medical professionals. 

From the outset the business has been created to produce both Cannabidiol (CBD) and Tetrahydrocannabinol (THC) in response to global market conditions. This gives the company an unusual level of market response agility. 

CBD is a non-hallucinogenic chemical derived from cannabis which is now legal in many jurisdictions. It is CBD that is driving current global cannabis demand. 

In the UK, as a typical example, it can be bought over the counter as a dietary supplement. Increasingly valued for its medicinal properties,  the global CBD market has been estimated on Wall Street to be worth $16bn by 2025.  But CBD – led demand is already changing in some places as science proves the enhanced medicinal benefits of THC and countries and states adjust their legislation to accommodate this. Folium is ready for that change. 



UK based company with planned UK listing, uniquely placed with operational facilities and experienced professional medical and academic staff producing premium crafted organic medical cannabis products  

Experienced international management team and seasoned board 

Government-approved and fully licensed in North Macedonia for existing and future medical cannabis cultivation, processing, manufacturing and export

Leveraging low costs of production in North Macedonia

Mixed cultivation approach to focus on greenhouse cultivation (CBD) and indoor aeroponic cultivation (THC)

Flexibility to switch from CBD-led output to greater THC output as market conditions dictate

Selling through developed business contacts in established markets

Phased rollout and expansion plans

Oil Extraction Facility


  • First 3 Months (Completed)
  • Facility build out
  • Equipment purchase
  • Full time support and training


  • Up to 142 kg/month (In Progress)
  • Hire additional employees
  • Produce up to 142kg of distillate per month


  • Up to 584kg/month (Future Goal)
  • Marginal staff increase
  • Additional equipment and facilities
  • Produce up to 584kg of distillate per month

Core team experience

We offer  Strategic Governance, Direction & Guidance, a seasoned, experienced board with listed company and IPO experience


Medical Expertise

Medical doctors within core team

Research experience

Treatment & applications experience


Key Management Expertise

Start Ups & IPO

Physical commodities trading

Large scale operations  

Emerging markets 

South Eastern Europe operations

New market & new product development

Rapid growth & expansion


Cannabis Expertise

Narcotics Enforcement

Agricultural research (Ex Dean of Faculty of Agriculture)

Agricultural operations

Cannabis growing experience

Cannabis oil extraction

The Board

The core team has a proven experience in building and operating businesses in emerging markets. This experience includes local area expertise in South Eastern Europe and North Macedonia. The core team has built start-up operations and grown businesses from green field to successful public listing on the London Stock Exchange. 

Paul M. Hitchcock

Chairman & Board Member

Partner & Managing Director, Newmarket Partners  Ltd

Experienced corporate financial advisor, ABN Amro Corporate Finance and Baring Brothers International

Dr. Etrur Albani

Founder & Board Member 

Founder & Investor

Founder & Managing Director, Fox Marble FOX (LON)

Business Consultant

CEO PTK Kosovo

Richard Dodd

CEO & Board Member

Chief Investment Officer & Managing Director

Newmarket Partners Ltd 

Cable & Wireless PLC, CEO Lime Caribbean, CEO Monaco and Islands and MD Mergers and Acquisitions

Plexus Wifi

Aeriandi Ltd


The Concerto Group

Thomas Melchior

CFO & Board Member

Founder and Partner

CFO at CWC Maldives / Dhigaagu

COO PTK Kosovo

CEO Horizon 

CFO Swisscom International India / Essar Cellphone

Timothy Seymour

Non Executive Board Member

Founder & CIO Seymour Asset Management

CNBC Emerging Markets Contributor

Experienced Chief Investment Officer

Triogem Asset Management

Red Star Asset Management

Operations Team

The operations team has a proven experience in building and operating businesses in emerging markets. This team has hands on cannabis growing and oil extraction experience

Scott Young

Corporate Finance Advisor

Founder & Managing Director Gemini Capital 

Experienced Investment Banker:

LF Rothschild

Morgan Stanley & Co.

Carlton Partners LLP

Dial Partners LLP 

Jonathan Mitchell

Chief Compliance and Governance

Regional Compliance Expert

International UK Government Service Experience

Local and National Governmental Agency Liaison

Prof. Dr. Ilija Karov

Head of Operations North Macedonia

Dean, Faculty of Agriculture

Oil Extraction Equipment Expert

Leading Agricultural expert

Cannabis Operations

Dr. Kirka Karova

North Macedonia

Medical Doctor

Quality Control

Cannabis Operations

Dr. Rozeta Karova

North Macedonia

Phd in Law

Legal and Commercial Operations

Cannabis Operations


Cannabis Products & Applications

Amongst 483 known chemicals in cannabis plants 85 are cannabinoids. Two cannabinoids dominate the world of medical marijuana - cannabidiol(CBD) and tetrahydrocannabinol (THC).

Tetrahydrocannabinol (THC)

This is the psychoactive compound in cannabis – i.e. the element that produces “the high”.

Cannabidiol (CBD)

CBD is the therapeutic ingredient, and the relationship between these cannabinoids and our bodies is multifaceted. This substance does not produce any psychoactive effects.

Cannabis Oils - CBD

Cannabis oils are often CBD only but when they do contain THC they often cannot exceed 30 mg of THC per millilitre.

Medicinal Cannabis –CBD & THC

Typically includes a high ratio of THC to CBD (1:1 or 2:1).

Applications areas

Treatment of:

  • Pain including chronic pain

  • Nausea

  • Epilepsy, seizures and fitting

  • Side effects of chemotherapy

  • Cancer

  • Alzheimer’s disease

  • Crohn’s disease

  • Eating disorders including appetite loss

  • Mental health conditions

  • Glaucoma

  • Muscle spasms

  • Multiple sclerosis

Contact us

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