Clever Leaves Holdings Inc.

Good afternoon, everyone, and thank you for participating in today's conference call to discuss Clever Lease's financial results for the second quarter ended June 30th, 2021. Joining us today are Clever Lease's CEO, Kyle Detweiler, and the company's CFO, Hank Haag. Before I introduce Kyle, I remind you that during today's call, including the question and answer session, statements that are not historical facts, including any projections or guidance, Statements regarding future events or future financial performance or statements of intent or belief are forward-looking statements and are covered by the safe harbor disclaimers contained in today's press release and the company's public filings with the SEC. Actual outcomes and results may differ materially from what is expressed in or implied by these forward-looking statements. Specifically, please refer the company's Form 10-Q for the quarter ended June 30, 2021, which was filed prior to this call, as well as other filings made by clever leaves with the SEC from time to time. These filings identify factors that could cause results from those forward-looking statements. Please also note that during this call, management will be disclosing adjusted EBITDA. This is a non-GAAP financial measure as defined by SEC Regulation G. A reconciliation of this non-GAAP financial measure to the most directly comparable GAAP measure statement disclosing the reasons why company management believes that adjusted EBITDA provides useful information to investors regarding the company's financial condition and results of operations are included in today's press release that is posted on the company's website. With that, I will turn the call over to Kyle.

Thank you, Cody, and good afternoon, everyone. The second quarter marked meaningful progress toward our long-term vision of becoming a leading low-cost multinational cannabis company and a continuation of our trajectory to achieve our near-term targets. Cannabinoid shipments continue to drive robust year-over-year revenue growth, while the market-leading efficiencies we are achieving at our cultivation facilities in Colombia and Portugal led to improvements in adjusted EBITDA. From a business development standpoint, We signed new partnership agreements in Australia and Mexico, widening our global distribution network to more partners and new geographies. We also launched Project Change Lives, our $25 million research initiative, which allows us to help support key U.S. cannabis research projects while advancing Cleverly's position in this emerging segment of the cannabis industry. Our success in expanding our footprint through new partnerships, while attaining positive financial momentum leaves us confident in the bright future ahead for Cleverleaf. During our last call, I reminded everyone that our future success will be defined by the foundation we are busy establishing today. Our journey is still young, but I would like to highlight a few significant achievements across our core markets. In Portugal, we continued to ramp our operations, which began to generate revenue for the company during the second quarter. It is important to remember that although we have had several successful commercial crops in Portugal, the operation is still in its early innings. We are continuing to optimize our processes as well as to adjust the client's evolving downstream strategies and preferences along with international regulations. The cost profile will also need to undergo a period of optimization and refinement. That said, We are pleased with the progress being made and the opportunities for both expansion within our existing markets and entry into new geographies. This possibility became a reality in late June when our team entered into a commercial partnership with pharmaceutical manufacturing company IDT Australia to export our pharmaceutical grade flour directly from our GACP certified facility in Portugal to Australia. Not only does this signify our first commercial shipment of high THC flour to Australia from our Portuguese facility, but it is also a step towards resolving Australia's ongoing shortage of medical cannabis, which has left patients unable to access their prescribed cannabis-based medicines. We are pleased with the early days of this arrangement and are aiming to widen our distribution channel with IDT to better service and meet the demand of the Australian market. We also further expanded our distribution network into Latin America during the quarter. In Mexico, we were quick to capitalize on the regulatory changes that now allow for the production and commercialization of medical cannabis when we announced our entry into the market through a commercial partnership with CBD Life. CBD Life is an emerging leader in the Mexican cannabis industry that offers a developing line of CBD wellness and consumer products. Beverly's will act as the active pharmaceutical ingredient or API supplier for the development and manufacturing of CBD Life's medical cannabis products, beginning with CBD Isolate. We are pleased to have partnered with a team experienced with brand building and pharmaceutical distribution to deliver our cannabinoid products from our EU GMT-certified facility in Colombia into Mexico. In what we view as an important step in our strategic growth opportunity, we aim to be an ongoing supplier of the required APIs for CBD Life's product manufacturing purposes. Turning to Columbia, we would of course be remiss if we did not address the historic decree that was signed subsequent to the quarter end that should allow Colombian licensed cannabis companies, such as Pueblis, to participate in the commercial production and export of medical cannabis flower for the first time. I will have to I will have more to say about this later in the call, but with flour estimated to represent as much as half of the global cannabinoid market, this development has the potential to double our long-term addressable market. To further contextualize the gravity of this advancement in regulatory reform, the occasion was celebrated from a visit with the President of Columbia, Ivan Duque, and several key ministers to our cultivation facility near Bogota, as our operations in the country have been designated a project of national and strategic interest by the Colombian government. While flour exports from Colombia will not turn out overnight, this is undoubtedly one of the most significant regulatory milestones in Claralee's history. We look forward to one day providing our high-quality flour grown in our EU GMP-certified facility to patients across the globe. As demonstrated by the continued momentum of our global expansion, we are confident in our positioning to execute on our go-forward strategy. Further, we are optimistic about the prospects that have opened as a result of regulatory reform. In addition to the tailwinds out of Australia, Mexico, and Colombia that I mentioned earlier, we are staying closely attuned to other changes across our current and prospective geographies, including evolving quality standards in Israel as well as the ongoing legalization efforts in the United States. Within our core geographies, all of our major operational centers are now producing revenue. I am very proud of the hard work put in by our team during the first half of 2021 and all of the exciting steps we have already made as we progress into the third quarter. Before I discuss these recent accomplishments in greater detail and provide greater detail on our operational highlights from the quarter, I'd like to turn the call over to our CFO, Hank Hegg, to provide more details on our financial performance for the second quarter.

Hank, over to you.