Thank you for standing by. Welcome to Boston Pizza's second quarter conference call. As a reminder, all participants are in listen-only mode, and the conference is being recorded on August 13th, 2021. After the presentation, there will be a question and answer session. Participants on the call may also post their questions via email to Boston Pizza's Investor Relations department at investorrelations@bostonpizza.com. Should anyone need assistance during the conference call, they may signal an operator by pressing star and zero on their telephone. At this time, I would like to turn the conference over to Michael Harbinson, Chief Financial Officer. Please go ahead, sir. Thank you and welcome to the call, everyone. We'll be discussing the 2021 second quarter results for both Boston Pizza Royalties Income Fund or the Fund, and for Boston Pizza International or BPI. For complete details on our financial results, please see our second quarter materials filed earlier today on SEDAR or visit the Fund's website at bpincomefund.com. Should you require additional information after the call, you can reach us via the Investor Relations phone number that is listed in our press release. The Fund is a limited purpose open-ended trust established under the laws of British Columbia to acquire, indirectly, certain trademarks and trade names used by BPI and its Boston Pizza restaurants in Canada. BPI pays royalty and distribution income to the Fund based on franchise revenues of Royalty Pool restaurants. For a complete description of the Fund and its business, please see the annual information form dated February 9th, 2021, which was filed on sedar.com. Before I turn the call over to Jordan Holm, President of BPI, I would like to note that certain information in the following discussion may constitute forward-looking information. For a more complete definition of forward-looking information and associated risks, please refer to the Fund's management discussion and analysis issued earlier today. Except as required by law, we assume no obligation to update or revise forward-looking information to reflect new events or circumstances. With that, I'll now turn the call over to Jordan. Jordan? Thank you, Michael, and welcome everyone to Boston Pizza's second quarter investor conference call. Today, I'll be discussing our results for the quarter ended June 30th, 2021, and also share a brief outlook. Michael will summarize our key financial highlights, and as usual, we'll leave time at the end of today's call for your questions. The second quarter continued to present challenges brought on by COVID-19, adversely affecting the business of Boston Pizza restaurants across Canada. As COVID case counts improved toward the end of the quarter, various governmental authorities began easing the restrictions they had placed on restaurants. The easing of those restrictions resulted in improved sales at Boston Pizza restaurants in the second quarter of 2021 compared to the second quarter of 2020, when the Canadian restaurant industry was in a greater state of lockdown. Throughout the second quarter of 2021, on average, approximately 375 Boston Pizza restaurants were providing takeout and delivery services. The state of our in-restaurant dining, however, was more wide-ranging, with a low of approximately 90 restaurants operating their dining rooms, sports bars, and/or patios. By the end of the period, approximately 380 Boston Pizza restaurants were providing on-premise dining services with reduced seating capacity, of which approximately 265 restaurants had their dining rooms and sports bars open, and where applicable, their patios. Approximately 115 restaurants only had their patios open due to ongoing government restrictions. Turning to our financial results, the Fund posted franchise sales from restaurants in the Royalty Pool of CAD 134.8 million for the quarter and CAD 263.8 million year-to-date, representing an increase of 25.8% and a decrease of 6.2% respectively, versus the same periods one year ago. Same-restaurant sales on a franchise sales basis was positive 27.0% for the quarter and negative 5.1% year-to-date. Positive results for the quarter were principally due to increases in guest traffic from the easing of government restrictions in the period, along with increased takeout and delivery sales. Same-restaurant sales results on a year-to-date basis were principally driven by temporary closures of dining rooms, sports bars, and patios, partially offset by increased takeout and delivery sales. COVID-19 first began to adversely affect Boston Pizza restaurants in March of 2020. As a result, the Fund believes it's useful to report additional sales metrics that compare sales in 2021 to sales in 2019. Comparing to 2019 results allows investors to gauge Boston Pizza's current sales levels against levels on a pre-pandemic basis. If SRS on a franchise sales basis were calculated by comparing the same period in 2019, SRS would be negative 37.0% for the quarter and negative 36.9% year-to-date. Same-restaurant sales for July 2021 was approximately positive 22% when compared to the same period in 2020, and approximately 0% when compared to the same period in 2019. Total franchise sales and the resulting royalty and distribution income for July 2021 were approximately 122% of the level they were at in July 2020 and approximately 99% of the level they were at in July of 2019. While we've been pleased with our ability to mitigate our sales declines throughout the pandemic, our outlook remains cautiously optimistic due to the uncertainty that remains at this stage in the pandemic. From a marketing standpoint, Boston Pizza began the second quarter of 2021 with our Call the Shot promotion. Customers who ordered a pizza flight or Molson Canadian product were eligible, rather, to Call the Shot by predicting hockey outcomes for a chance to win great prizes. In June, we kicked off our summer patio promotion, which included our patio retraining, a media campaign, as well as a new summer feature menu, both of which have been exceptionally well received by our returning guests. Turning to restaurant development, Boston Pizza opened no new Boston Pizza restaurants during the quarter or year-to-date. Boston Pizza closed one restaurant in the quarter and has now closed two restaurants year-to-date. BPI continues to focus on the safety of our guests and restaurant staff, serving our communities with takeout, delivery, and on-premise dining as permitted, and helping our franchisees to effectively manage through the next phase of this pandemic. I'll now pass it over to Michael for a review of the Fund's financial performance. Michael? Thank you, Jordan. The Fund posted royalty income of CAD 5.4 million for the quarter and CAD 10.6 million year-to-date, compared to CAD 4.3 million and CAD 11.2 million, respectively, for the same period as one year ago. The Fund posted distribution income of CAD 1.8 million for the quarter and CAD 3.5 million year-to-date, compared to CAD 1.4 million and CAD 3.7 million, respectively, for the same period as one year ago. Royalty and distribution income for the quarter were based on 387 Boston Pizza restaurants in the Royalty Pool that reported franchise sales of CAD 134.8 million for the quarter and CAD 263.8 million year-to-date. For the same period in 2020, royalty and distribution income were based on the Royalty Pool of 395 Boston Pizza restaurants, reporting franchise sales of CAD 107.1 million and CAD 281.2 million, respectively. The Fund's net and comprehensive income was CAD 7.7 million for the period, compared to CAD 7.6 million for the second quarter of 2020. The CAD 0.1 million increase in the Fund's net and comprehensive income for the period compared to the same second quarter of 2020 was primarily due to higher royalty and distribution income of CAD 1.5 million, offset by higher interest expense on Class B units of CAD 0.6 million, higher interest expense on long-term debt of CAD 0.3 million, higher income tax expense of CAD 0.3 million+, a CAD 0.1 million decrease in fair value gain. The Fund's net and comprehensive income of CAD 19.3 million year-to-date compared to net and comprehensive loss of CAD 9.3 million year-to-date in 2020. The CAD 28.7 million increase in the Fund's net and comprehensive income year-to-date compared to the same period in 2020 was primarily due to a CAD 30.1 million increase in fair value gain and lower income tax expense of CAD 0.2 million, partially offset by lower royalty and distribution income of CAD 0.9 million, higher interest expense on long-term debt of CAD 0.5 million, and higher interest expense on Class B units of CAD 0.4 million. While net and comprehensive income or loss is a measurement of the Fund's earnings under International Financial Reporting Standards, or IFRS, the Fund is of the view that net income or loss does not provide the most meaningful measurement of the Fund's ability to pay distributions because the calculation of net income contains non-cash items that do not affect the Fund's cash flow. Non-cash items include the fair value adjustments on the investment in Boston Pizza Canada Limited Partnership. It also include the Class B unit liability, interest rate swaps, and changes in deferred income taxes. Consequently, the Fund reports the non-IFRS metrics of distributable cash and payout ratio to provide investors with, in the Fund's opinion, more meaningful information regarding the Fund's ability to pay distributions to unitholders. The Fund generated distributable cash of CAD 4 million for the period, compared to negative CAD 2.2 million for the second quarter of 2020. The increase in distributable cash of CAD 6.2 million or 280.1% was primarily due to an increase in cash flow generated from operating activities of CAD 7.2 million and lower SIFT tax on units of CAD 0.9 million, all partially offset by a contractually required debt repayment of CAD 1 million, for which there is no comparable repayment in the second quarter of the prior year. As well as increased entitlements for BPI's Class B units of CAD 0.5 million, an increase of interest paid on long-term debt of CAD 0.3 million. The Fund generated distributable cash of CAD 7.77 million year-to-date, compared to CAD 5.5 million year-to-date in 2020. The increase in distributable cash of CAD 2.2 million or 40.9% was primarily due to an increase in cash flow generated from operating activities of CAD 3.6 million and lower SIF tax of units of CAD 1.5 million, partially offset by contractually required debt repayments of CAD 2.1 million, for which there are no comparable repayments in 2020, the increase of interest paid on long-term debt of CAD 0.4 million, and an increase in the entitlement for BPI's Class B units of CAD 0.3 million. The Fund generated distributable cash per unit of CAD 0.187 for the period, compared to negative CAD 0.104 per unit for the second quarter of 2020. The increase in distributable cash of CAD 0.291 or 279.8%, was primarily attributable to the increase in distributable cash outlined above. The Fund generated distributable cash per unit of CAD 0.357 year-to-date, compared to CAD 0.253 per unit year-to-date in 2020. The increase in distributable cash per unit of CAD 0.104, or 41.1%, was primarily attributable to the increase in distributable cash outlined above and fewer units outstanding compared to the same period in 2020 due to the Fund's normal course issuer bid that was active from February 19, 2020 to February 18, 2021. The Fund's payout ratio for the period was 104.3%, compared to 0% for the second quarter of 2020. The increase in the Fund's payout ratio for the period was due to distributions paid at CAD 4.2 million, with no distributions paid during the second quarter of 2020, and distributable cash increasing by CAD 6.2 million or 280.1%. The Fund's payout ratio year-to-date was 165.1%, compared to 126.8% year-to-date in 2021. The increase in the Fund's payout ratio year-to-date was due to distributions paid increasing by CAD 5.8 million, or 83.4%, partially offset by distributable cash increasing by CAD 2.2 million or 40.9%. The payout ratio is calculated by dividing the amount of distributions paid during the applicable period by the distributable cash for that period. Accordingly, the payout ratio year-to-date factors in the CAD 0.20 special distribution that was paid on January 29, 2021, even though the cash generated to fund the special distribution was generated during 2020. If the special distribution was excluded in the calculation of payout ratio year-to-date, the payout ratio would be 109.1%. Fund's payout ratio is typically higher in the first and fourth quarters compared to the second and third quarters every year, since the Boston Pizza restaurants generally experience higher franchise sales during the summer months, when restaurants open their patios and benefit from increased tourist traffic. On a trailing 12-month basis, the Fund's payout ratio was 91.2% as at June 30th, 2021. The effects of COVID-19 may materially affect the Fund's payout ratio in the future. On August 12th, 2021, the trustees of the Fund approved a cash distribution to unitholders of CAD 0.065 per unit in respect of the period from July 1st, 2021 to July 31st, 2021. This monthly distribution will be payable on August 31st, 2021 to unitholders of record at the close of business on August 21st, 2021. The trustees' objective in setting a monthly distribution amount is that it be sustainable. The trustees will continue to closely monitor the fund's available cash balances, given the continued volatility and economic uncertainty caused by COVID-19. Where COVID-19 persists, the trustees expect that franchise sales and same-restaurant sales and the resulting royalty and distribution income, along with distributable cash available for distribution to unitholders, will all continue to be challenged. With that, I will turn the call back to Jordan for more on the outlook. Jordan? Thank you, Michael. We continue to be pleased with the efforts of our team and our franchisees during these challenging times. In terms of our outlook, Boston Pizza looks forward to a successful summer season with our patio promotion and new summer feature menu. We also look forward to bringing back our popular Boston Pizza Kids Cards promotion toward the end of the third quarter. This promotion is always a favorite for families, where for a CAD 5 donation to the Boston Pizza Foundation, they receive a card for five free kids meals. With respect to our outlook, the main focus of BPI's management is to continue to monitor the evolving COVID-19 situation and modify the operating procedures of Boston Pizza restaurants to ensure the safety of our guests and our staff. Our goal is to responsibly and safely operate the dining rooms, sports bars, and patios of Boston Pizza restaurants across Canada when permitted by applicable provincial health authorities, maximize the opportunity to grow our takeout and delivery business, and adapt our plans to responsibly address the challenges and opportunities presented by COVID-19. Looking forward, we remain cautious as we anticipate that COVID-19 will continue to have a negative and volatile impact on the business of Boston Pizza restaurants during the remainder of the year. However, we are encouraged by vaccination rates across Canada, the decline of COVID-19 case counts, and positive sales momentum going into the latter half of this year. We are optimistic that same-restaurant sales levels for the balance of 2021 will be favorable compared to the first half of 2021. With that, I'd like to begin the question and answer session. Operator? Thank you. We will now begin the question and answer session. Anyone who wishes to ask a question may press star, then one on their touch-tone phone, or send the question via email to investorrelations@bostonpizza.com. Please note those questions that we do not get to during the call will be answered via email immediately following the end of the investor conference call. The first question comes from Nick Corcoran from Acumen Capital Partners. Please go ahead. Good morning, and thanks for taking my questions. Morning, Nick. Morning, Nick. My first question is just due with the disclosure you provided on system sales in July, particularly compared to July 2019. I guess my question just comes due, you said the system sales were flat with July 2019. Can you comment on whether the sales in the month were flat or they accelerated through the month? Yeah, I can take that one, Nick. That's correct. Just to recap for maybe a broader audience, what we've disclosed is same-restaurant sales for this July were approximately up 22% compared to 2020, and relatively flat versus 2019. The reason that we compare to 2019 is we feel that's just a very good pre-COVID-19 benchmark for everyone to understand in terms of how our business is tracking back to kind of a pre-COVID-19 level. Yeah, we were roughly flat for the month of July, which is the most current full month that we've got. Within the month, same-restaurant sales, excuse me, were kind of tracking more and more positive. That really kind of lines up with the easing of the government restrictions on our restaurants throughout the month. Great. Switching gears again, as consumers switch back to more normalized patterns of consumption, are you still seeing takeout and delivery as a significant portion of your overall sales? Yeah, I can take that one as well. Just again, excuse me, for broader context for everyone else, pre-COVID, takeout and delivery would comprise about 18% of our total sales. During the kind of most challenging parts of the pandemic, we doubled our takeout and delivery sales. They got up into the range of 40% of what would've been pre-COVID sales. As the dine-in operations have started to come back, we're not at that doubling level, but we're also not at that 18% pre-COVID level. We're falling somewhere in between. It's nice for us to see that some degree of what we were able to establish and build throughout COVID, in terms of generating takeout and delivery sales, some of that is continuing to help us going forward. Great. There's been a lot of news in the media about higher input costs and labor shortages. Can you maybe comment on what you're seeing within your network? Yeah. Jordan, do you want that one? Yeah, I can make some comments there. Certainly, the labor issue is real, and I think it's broader than certainly Boston Pizza or restaurants. It's all over in manufacturing and in retail, and certainly in the hospitality and restaurant area. We are finding it difficult to source staff. A year of disruption didn't help. We went into the pandemic already with a shortage of staff, and it was a critical issue that we had been investing in as an organization and as a network of franchisees for a long period of time to position ourselves as an employer that attracts people, both for the front of house roles as well as for the heart of house or the kitchen. We continue to put lots of effort into that going forward right now. An average Boston Pizza restaurant would have 55 to 75 staff members, depending on the mix of full-time and part-time. We continue to make that a really big focus. We've already seen the effects of rising labor in three of the main provinces where we operate, Ontario, Alberta, and British Columbia. It's not as much about paying more, it's really about finding people and making sure they go through the orientation training to be effective in their roles. That's definitely been a challenge in ramping back up. We're putting lots of effort towards it. Other costs, we've certainly seen the COVID costs now for about a year and a half with sanitization and extra staffing for making sure that the restaurants can operate safely, whether that's in takeout and delivery only or as we've reopened patios, bars, and dining rooms. We have seen some effects of supply chain disruption impacting costs of ingredients for our menu or equipment. That's something that everyone is experiencing. It appears to be some of it short-term as the disrupted manufacturing and agricultural and shipping, all of that is still undergoing a recovery of its own, and that impacts associated costs. We do have the opportunity to manage our pricing biannually. We'll look at that, but more than that, we want to continue to serve a broad range of Canadians and stay price competitive. It is a balancing act, but we have the ability to make adjustments where necessary. There's some broad comments anyway, Nick, to talk about the environment that we're going through right now. That's helpful. Just the last question from me. I think you said 380 locations were open at quarter end and seven were closed. Can you give an indication of what's happening to those seven restaurants? We have some locations that are in what I'd call closed marketplaces. A great example would be the Edmonton Airport. That's a location that is inside past security. With the low number of travelers and travel being restricted in a lot of cases, we haven't reopened that location yet. It is in the works. We also had a location, or have a location rather, inside a very large sportsplex in Whitby, Ontario, and the sportsplex has been closed and leagues have been suspended and so forth due to COVID protocols. That's another example of a closed marketplace location that had remained closed due to the setting that they're in, and that makes up the seven that have remained closed. We have opened one of those, which is Clifton Hill in Ontario. Again, a marketplace that's driven by tourism. Didn't make sense to have it open if all the hotels were empty. Now that tourism has rebounded or is starting to, Clifton Hill has reopened. Some of the examples of the temporary closures there. Great. That's all for me. Thanks, again. Thanks, Nick. Thanks, Nick. Thank you. This concludes the question and answer session. I would like to turn the conference back over to Mr. Jordan Holm for any closing remarks. Great. Thank you, operator. Since there are no further questions, I want to thank everybody for taking the time to listen in. We look forward to safely welcoming back more of our guests into our restaurants. Please continue to stay safe and healthy, and we'll speak with you all again at our third quarter conference call in November. Thank you. This concludes today's conference call. You may disconnect your lines. Thank you for participating, and have a pleasant day,