Flow Beverage Corp.

Welcome to Flow Beverage Corp's fiscal Q4 and 2022 conference call. As a reminder, this conference is being recorded today, January the 30th, 2023. At this time, all participants are in a listen-only mode. Following the presentation, we will conduct a question and answer session, and instructions will be provided at that time for research analysts to queue up for their questions. I will now turn the conference over to Nicholas Reichenbach, Chairman and Chief Executive Officer of FLO. Please go ahead, Nicholas.

Thank you, operator. Good morning, everybody, and thank you for joining us today. I'm joined today by Trent McDonald, FLO's Chief Financial Officer. For our disclaimers on forward-looking statements, please refer to slide two of this presentation. We hosted an operational update conference call on January 9th, so I'll keep my remarks brief and then pass it over to Trent to review the Q4 and year end 2022 financial results. Subsequent to our fiscal 2022 year end, we made a number of game changing moves to significantly improve the company's financial trajectory As I said on our operational update conference call, the common thread to all these initiatives is that we are taking an aggressive action towards our goal to achieve profitable growth for the Flow brand. In November 2022, we sold our Virginia production facility for $19.5 million. We initiated an internal restructuring in December of 2022. and raised an additional 15 million Canadian from a senior secured debt facility in January 2023. This debt facility also allows us to draw another $5 million in fiscal 2023. These strategic initiatives together have provided a cash injection of $31 million into the company and we expect to realize cash savings of $17 million in fiscal 2023 without impacting the growth of the Flow brand. In fact, we believe these initiatives provide the company with financial flexibility to invest even further behind sales and marketing to drive profitable growth for the Flow brand while achieving normalization and predictability on gross margins.

Today,