Cresco Labs Inc

Hello everyone and thank you for joining the Cresco Labs fourth quarter 2021 earnings conference call. My name is Gemma and I'll be the operator for today. If you would like to ask a question for the Q&A portion of today's call, please press star followed by one. If you change your mind, it's star followed by two. In addition to the Cresco management team, co-founder and CEO of Columbia Care, Nicholas Vita, will be on the line too for the live Q&A.

We shall now begin, thank you. Thank you.

Good morning and welcome to Cresco Labs' fourth quarter and full year 2021 earnings conference call. During today's call, we will also discuss the company's proposed acquisition of ColumbiaCare, which was announced this morning. On the call today, we have Chief Executive Officer and Co-Founder, Charlie Bechtel, Chief Financial Officer, Dennis Oles, and Chief Commercial Officer, Greg Butler, who will be available for Q&A. Prior to this call, we issued our fourth quarter and full year 2021 earnings press release, which has been filed on CDAR and is available on our investor relations website. These unaudited preliminary results for fourth quarter and full year 2021 are provided prior to the completion of all internal and external review and therefore are subject to adjustments until the filing of the company's annual financial statements. We plan to file our corresponding financial statements and MD&A for the three and 12 months ended December 31st, 2021, on CDAR and EDGAR later this week. Along with our earnings release, a press release, and investor presentation regarding the proposed acquisition of ColumbiaCare are available on our investor relations website. Certain statements made on today's call may contain forward-looking information within the meaning of applicable Canadian securities legislation, as well as forward-looking statements within the meaning of the United States private Securities Litigation Reform Act of 1995. The forward-looking information and statements may include estimates, projections, goals, forecasts, or assumptions that are based on current expectations and are not representative of historical facts or information. Such forward-looking information and statements represent the company's beliefs regarding future events, plans, or objectives which are inherently uncertain and are subject to a number of risks and uncertainties that may cause are actual results or performance to differ materially from such forward-looking statements, including economic conditions, changes in applicable regulations, the possibility that the expected synergies and value creation from the proposed acquisition will not be realized or will not be realized within the expected time period, the risk that the businesses will not be integrated successfully, disruptions from the acquisition making it more difficult to maintain business and operational relationships, and the possibility that the acquisition does not close, including but not limited to, due to the failure to satisfy the closing conditions, including the receipt of requisite regulatory approvals. Additional information regarding the material factors and assumptions forming the basis of our forward-looking statements and risk factors can be found in our earnings press release and in CRESCO lab's filings with CDAR and the Securities and Exchange Commission. Cresco Labs does not undertake any duty to publicly announce the results of any revisions to its forward-looking statements or to update or supplement any information provided on today's call. Please note that all financial information on today's call is presented in U.S. dollars and interim financial information is unaudited. In addition to today's conference call, Cresco Labs will refer to certain non-GAAP financial measures such as adjusted EBITDA and adjusted gross margins which do not have any standardized meaning prescribed by GAAP. Please refer to our earnings press release for calculation of these measures and a reconciliation to the most directly comparable measures calculated and presented in accordance with GAAP. These non-GAAP financial measures should not be considered superior to or as a substitute for or as an alternative to and should only be considered in conjunction with the GAAP financial measures presented in our financial statements. With that, I'll turn it over to Charlie.