Good morning and welcome to EMERGE Commerce First Quarter 2025 Results Conference Call. At this time, note that all participant lines are in the listen-only mode. If at any time during this call you require immediate assistance, please press star zero for the operator. Note that this call is being recorded on May 28, 2025. Your hosts today are Ghassan Halazon, Founder and Chief Executive Officer, and Dasha Enenko, Chief Financial Officer. Before we begin, I am required to provide the following statement respecting forward-looking information, which is made on behalf of EMERGE and all of its representatives on this call. Certain statements made on this call may contain forward-looking information. These forward-looking statements generally can be identified by the use of words such as intend, believe, could, expect, estimate, forecast, may, and other words of similar meaning. This forward-looking information is based on our opinions, estimates, and assumptions in light of our experience and perception of historical trends, current conditions, and expected future developments, as well as other factors that we currently believe are appropriate and reasonable in the circumstances. Actual results could differ materially from a conclusion, forecast, expectation, belief, or projection in the forward-looking information. Certain material factors and assumptions were applied in drawing a conclusion or making a forecast or projection, and as reflected in the forward-looking information. We caution investors not to rely on the forward-looking information. Additional information about the material factors that could cause actual results to differ materially from the conclusion, forecast, or projection in the forward-looking information and material factors or assumptions that were applied in drawing a conclusion or making a forecast or projection, as reflected in the forward-looking information, are contained in EMERGE's filings with Canadian Provincial Securities Regulators. During today's call, all figures are in Canadian Dollars unless otherwise stated. With that, I would like to turn the call over to Mr. Ghassan Halazon, Founder and CEO. Please go ahead, sir. Thank you very much. Good morning, everyone. We appreciate you taking time to participate in our First Quarter 2025 Conference Call. Joining me today is Dasha Enenko, our CFO. This morning, I will walk through the continued operational progress we're making at EMERGE and share some insights on our business, including our recent acquisition, our Q2 outlook, as well as our priorities for the balance of 2025. Following my remarks, Dasha will provide additional details on our financial results, after which I will conclude the call with some closing remarks. Let's dive in. Q1 was the right way to start 2025. We are pleased to share that we have once again decisively delivered on our goals of driving organic revenue growth and improved profitability. Revenue for the quarter grew by 8% to CAD 5 million. This marks our fourth consecutive quarter of positive organic revenue growth. Once again, both truLOCAL and the Golf Business achieved positive organic growth in Q1, and there's a good reason for that. Our business model is uniquely positioned to thrive in the current macro backdrop. truLOCAL, our premium Canadian meat and seafood subscription business, has been a benefactor of the support local movement sweeping the country this year, resulting in a large influx of new customers at very attractive customer acquisition costs not seen since the peak pandemic. On the other hand, our discount Golf Business continues to strengthen in the weakening economy as customers seek out more deals, and golf suppliers rely more heavily on our marketplaces to move inventory. Notably, Q1 was our first positive adjusted EBITDA quarter since moving towards EMERGE 2.0, our more streamlined business strategy, which entails EMERGE management directly managing our businesses and, in the process, requiring fewer HQ and other resources to service our more focused grocery and golf portfolio. Adjusted EBITDA improved to positive CAD 32,000 versus a loss of CAD 191,000, representing a CAD 223,000 positive swing. Q1 is generally a seasonal quarter for EMERGE, particularly for our Canadian Golf Business during winter months. Despite this, our growing top line coupled with our streamlined overhead expenses, including the previously announced cost reductions, were in full display in Q1 2025 for the first time, resulting in much improved profitability. Management has been commissioning additional savings in Q1 and Q2 to date that should further positively impact our go-forward profitability for the rest of the year. Gross profit for the quarter was down one percent year over year, in part due to the larger-than-expected influx of new customers that signed up to our limited-time buy Canadian introductory promotional offers, as well as some post-holiday refunds hitting January, given the larger volume seen in Q4 year over year. We do not expect either item to impact our go-forward results. Now I will share a few pertinent updates from events subsequent to quarter end. On April 4, 2025, EMERGE closed the acquisition of all of the issued and outstanding shares of T2 Green Limited, or T2G for short. T2G is a profitable discount golf apparel and equipment business with a 38-year track record of operations focused on the Canadian market. T2G is expected to be highly synergistic. Excuse me. T2G achieved revenue of CAD 6.4 million, adjusted EBITDA of CAD 1 million, and net income of CAD 700,000 in 2024 on audited. T2G is expected to be highly synergistic with EMERGE's extensive Golf Business, which includes Underpar and Just Golf Stuff, along with a 400,000 golf subscriber database to help scale T2G's business cost-effectively. EMERGE was able to utilize the cash proceeds from the Carnivore Club transaction, as well as the sale of the shop domains to Shopify, towards closing the T2G acquisition, without the need for a capital raise to complete the deal. Now for an update on the debt side. Alongside the acquisition of T2G on April 4, 2025, the company also entered into a credit facility amendment with the existing lender. The amended facility provides an 18-month extension and an additional 6-month extension option, provided that lender consent is obtained. Inclusive of the 6-month extension, the amended facility would mature in April 2027. The company remains in good standing with its existing lender, which it has worked with since November 2019. In addition, the recently anticipated upcoming rate reductions are expected to result in meaningful cash savings for the business, given our variable rate under the facility. We believe that our improving operational results, coupled with the addition of T2G's profitable profile, as well as our reduced overall debt levels, along with a more favorable interest rate climate, could lead to the possibility of securing cheaper alternative refinancing options, further driving savings and improving cash flow. Now for some commentary on our Q2 outlook. We are pleased to share that the trends we are seeing in Q2 to date have been stronger than expected, again, across both trueLOCAL and the Golf Business. For Q2 2025, EMERGE management expects to achieve accelerated double-digit revenue growth and strong positive adjusted EBITDA. truLOCAL, our Canadian meat and seafood subscription brand, continues to be a benefactor of the buy Canadian movement, with continued revenue growth, profitability, and operational metrics overall. Our discounted Golf experiences and products vertical, which includes UnderPar, Just Golf Stuff, and now T2 Green, is expected to continue to gain from the weakening microclimate, given the recession-friendly nature of the business model, with golf season now in full swing. Q2 is the first quarter EMERGE will report with T2G's results included. The addition of T2G starting Q2 2025 is expected to substantially enhance the company's revenue, profitability, and cash flow profile, and in the process, strengthen its balance sheet and potentially improve its cost of capital over time. Finally, I will take a moment to list our top priorities in 2025, to accelerate revenue growth, to extract further operational efficiencies and synergies to drive profitability, and three, to opportunistically explore avenues to enhance cash flow and reduce interest expense. To sum up, we have delivered yet another quarter of continued growth and profitability. We are fortunate to house brands that are not only managing to survive, but in fact are thriving in this macroclimate. Our more streamlined strategy and direct oversight of our brands continues to pay dividends, and we are excited to build on this momentum. Finally, I would like to offer our sincere gratitude to our resilient and determined team, board, shareholders, and trusted partners as we deliver another growth quarter and look forward to building on this momentum in Q2, our first quarter including T2 Green. I will now turn the call over to Dasha for a review of our financial results. Dasha. Thanks, Ghassan. Good morning, everyone. Fiscal Q1 2025 marks our first quarter of reporting without Carnivore Club businesses, which were sold in January 2025. These iterations are now presented as discontinued operations in both the current and prior periods. In Q1 2025, our gross merchandise sales, or GMS, which is a Non-GAAP metric that reflects the total dollar value of customer purchases through our brands, excluding taxes, discounts, and refunds, grew 8.3% to CAD 8 million, up from CAD 7.4 million in the same period last year. Revenue for the quarter increased by 8% to CAD 5 million, up from CAD 4.7 million in the prior period. Gross profit for the quarter was CAD 1.94 million, slightly down from CAD 1.97 million in the comparative period. Net loss from continued operations improved to CAD 20,000 compared to CAD 82,000 in the prior period. Net income was CAD 0.4 million compared to CAD 0.48 million in the same quarter last year. Adjusted EBITDA was CAD 0.03 million, which is an improvement from an adjusted EBITDA loss of CAD 0.2 million in the prior period. These results reflect our focus on driving organic growth, reducing SG&A expenses, improving profitability, and discontinuing unprofitable business lines. Finally, cash on hand as of March 31st 2025, was CAD 2.7 million compared to CAD 2.6 million at the end of the same quarter last year. I'll now pass the microphone back to Ghassan for some closing remarks. Thank you, Dasha. Q1 2025 was all about execution at EMERGE. We continued our organic revenue growth for the fourth consecutive quarter. We achieved our first positive Adjusted EBITDA quarter under the EMERGE 2.0 strategy and managed to do so during a historically seasonal quarter for the company's golf business. We are seeing accelerated operational progress and momentum this Q2 to date, and the T2G acquisition is expected to supercharge our growth and profitability to new heights in 2025, starting Q2 onwards. Fortunately, our portfolio is exceptionally well-positioned to gain from the challenging climate facing most businesses today. trueLOCAL really has a special opportunity to emerge as one of the faces of the support local movement in Canada, and we are seeing that enormous potential start to reflect in our operating metrics, including a 193% increase in net new subscriptions we reported midway through Q1. Our discount Golf Business continues to strengthen as the economy weakens, and we believe this will continue to be the case for the foreseeable future. We hope investors are satisfied to see that we continue to deliver on our key priorities with precision, including in the early months of our latest acquisition. With that, thank you, everyone, for joining us today and for your continued interest in EMERGE Commerce. We look forward to reporting our Q2 2025 results in late August. Have a great day and buy Canadian. Thank you. Thank you, sir. Ladies and gentlemen, this does indeed conclude your conference call for today. Once again, thank you for attending, and at this time, we do ask that you please disconnect your lines.