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Lowell Farms Inc
11/14/2023
Good morning and welcome to the Lowell Farms Inc. third quarter 2023 earnings conference call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero on your telephone keypad. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star, then 1 on your telephone keypad. To withdraw your question, please press star, then 2. Please note this event is being recorded. I would now like to turn the conference over to Bill Mitoulas, Investor Relations Manager. Please go ahead.
Good morning, and welcome to the conference call to discuss Lowell Farm Incorporated financial results, the fiscal third quarter of 2023. Before we begin, let me remind you that during the course of this conference call, Lowell Farm Incorporated's management may make forward-looking statements. These forward-looking statements are based on current expectations that are subject to risks and uncertainties that may cause actual results to differ materially from expectations. These risks are outlined in the risk factors section of our Form 10 filed on EDGAR and our listing statement filed on CDAR. Any forward-looking statements should be considered in light of these factors. Please also note that any outlook we present is as of today, and management does not undertake any obligation to revise any forward-looking statements in the future. The call includes Ann Lawrence, chairperson of the board, Mark Ainsworth, co-founder and chief executive officer, as well as interim chief financial officer Tessa O'Dowd. We'll go into detail about the company's financial results for the quarter later in the call. The Q&A portion of this call will be open to analyst questions to provide further insight into the company's performance, operations, and go-forward strategy. For those of you who may happen to leave our call before its conclusion, please be advised that this conference call will be recorded and archived in our investor relations website page. And now I'll turn the call over to Anne. Anne, please go ahead.
Thank you, Bill. And thank you all for joining us for this Lowell Farms earnings call. A year ago, we embarked on an ambitious restructuring strategy, and I'm pleased to announce that we've successfully cleared one more of the major hurdles with the completion of the previously announced brand code deal in connection with the elimination of our outstanding subordinated debt and alleviating the company's expenses associated with the brand. We are very excited about the opportunities this deal brings, and as exclusive manufacturing and distribution partner to the Lowell Erpo brand in California, we look forward to extending our unwavering support as it maintains its leading position in a highly competitive, highly regulated California cannabis market. The completion of this brand co-transaction allows the company to refocus on expanding our portfolio and building strong partnerships with other cannabis companies to rebuild the California marketplace. Currently, our portfolio includes several own brands as well as a well-rounded lineup of distributed brand partners throughout California. It is our goal as always to further gain on our market position, focusing on brand awareness and our commitment to an exceptional product to help us achieve that goal. While the challenges in this industry persist, we are, along with the entire cannabis community, pushing forward every day to survive the current market conditions with the goal of building a strong coalition to weather the storm. Overall, the sentiment within our organization is one of optimism. Even though we recognize the continued industry challenges, we are energized by our progress to date and looking forward to completing the remainder of our restructuring strategy. With that being said, this is a tough industry and our goal is to do right by our investors, our team, this industry, and the community at large. We believe cannabis will continue to be a significant part of the global economy And our goal is to play an integral part in shaping a sustainable cannabis community and industry. Now, I'd like to turn it over to Mark, who will take you further into Q3 operational results. Mark?
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