Good morning, ladies and gentlemen, and welcome to the Indiva Ltd Fiscal Year 2023 Earnings Conference Call. If at any time during this call you need assistance, please press star zero for the operator. This call is being recorded on Thursday, April 25th, 2024. I would now like to turn the conference over to Niel Marotta, CEO of Indiva. Please go ahead. Thank you, operator. Welcome, everyone. Thank you for joining us this morning to discuss Indiva's financial results for the fourth quarter and fiscal year ended December 31st, 2023. Matters discussed in this conference call include forward-looking statements. Each forward-looking statement is subject to risks and uncertainties that could cause actual results to differ materially from those projected in such statements. Certain material factors and assumptions were considered and applied in making these forward-looking statements. Additional information regarding these forward-looking statements, factors, and assumptions is available in our earnings press release issued today, as well as in the risk factors section of the annual MD&A and other public disclosure documents available on Indiva's SEDAR+ profile. Pleased to announce the best quarterly and annual results in Indiva's history. In our fourth quarter and for fiscal year 2023, we achieved record net revenue, gross margin percentage, and gross profit in dollars, record EBITDA and record adjusted EBITDA, and record positive operating income. Q4 results were driven by continued growth in Pearls gummies, as well as the introduction of new products including No Future gummies and vapes. On a year-over-year basis, we overcame adversity in cross-currency to produce record results. Specifically, the decline in net revenue contribution from moving to contract manufacturing of Wana, combined with the loss of lozenge revenue due to Health Canada's regulatory ruling on lozenges, cost CAD 4.6 million of net revenue in the fourth quarter when compared to the same period last year. This decline was more than offset by a CAD 6.7 million incremental net revenue contribution from Pearls and No Future. I'm very proud of the resiliency of the Indiva team and our ability to overcome adversity, particularly driven by events out of our control. For the fiscal year 2023, net revenue also increased to a record CAD 37.6 million despite those cross-currents. 35% of net revenue in Q4 2023 was derived from brands created and owned by Indiva, including Indiva 1432 Chocolate, Indiva Blips, Indiva Doppio Sandwich Cookies, and No Future gummies and vapes. This is up from 20% of net revenue in Q1 2023 as we continue our push towards more in-house development of brands and products and a declining reliance on licensed brands as a percentage of our net revenue. Indiva achieved 27 new SKU listings in 2023, 24 of which are from in-house innovation. In 2024 to date, Indiva has received an additional 10 SKU listings, nine of which are from in-house innovation. At our production facility in London, Ontario, we continue to add further automation to our processing and packaging activities, further improving our low-cost producer status. These improvements are evident in our adjusted gross margin to a record 38.5% in the quarter. The fourth quarter was a record for production as well, with greater than 5 million units produced. Turning to market share, data from Hifyre for the fourth quarter of 2023 shows strong sales through Indiva's edible products. With 22.9% share of sales across BC, Alberta, Saskatchewan, Manitoba, and Ontario, Indiva continues to hold the number one ranking in market share by sales and units in the edibles category, and this is driven by continued growth of Pearls by Grön and No Future gummies. In Q4, our edibles market share in Ontario was 24.9%, in Alberta it was 22.2%, and in British Columbia, we were number one with 28.2% market share. Looking at gummies, Indiva's Pearls by Grön gummies ranked as number two in the edibles category based on sales with a 14.5% share and ranked number one with a 17.4% share based on units sold. Further, No Future gummies launched in late Q3 and already ranked as number seven in the edibles category based on sales and number five based on units sold. In chocolate, Indiva held the number one ranking in market share by sales and units sold with 32.6% total subcategory share. Bhang ranked number two on sales and ranked number one on units sold. Note that Bhang exited the Alberta market in 2023 due to regulatory constraints, but we regained much of that market share with Indiva's 1432 brand. In baked goods, Indiva held the number one ranking in market share by sales and units sold with 42% total subcategory share, driven by the success of Doppio Sandwich Cookies. Based on data from B.C., Alberta, Ontario, Manitoba, and Saskatchewan, the edibles category decreased by 0.4% Q4 to CAD 63.1 million in retail sales from CAD 63.4 million in Q3 2023 and decreased 2.2% versus CAD 64.6 million in the same quarter last year. In February 2024, market share by dollars improved at 25.2% in the edibles category across British Columbia, Alberta, Saskatchewan, Manitoba, and Ontario, and Indiva maintained the number one ranking in market share by dollars and units sold in the edibles category and ranked number two nationally overall in unit share across all categories with a 7.3% unit share. We sold more than 1 million units in February nationally. Now turn to a review of some key operational highlights for the year ended December 31, 2023. Indiva completed the commissioning of several key pieces of automation used in the processing and packaging of its top-selling edible brand. This is an important milestone for the company as it allows Indiva to scale innovation and continue to drive unit costs lower. Indiva began shipping and supplying to the Hifyre medical platform with Indiva products, including Pearls by Grön, Bhang Chocolate, as well as Doppio Sandwich Cookies. We signed a non-exclusive agreement with Valley Distribution, a subsidiary of Canna Cabana Inc. for the distribution of products in the province of Saskatchewan. In March 2023, Health Canada requested that Indiva cease production of lozenges, and we immediately complied with this order. Initial deliveries of Pearls by Grön gummies were made to the province of Alberta in May of 2023. Four SKUs were initially delivered, and the SKU count has since grown to 10 SKUs, including three 25-count packs focused on minor cannabinoids, including CBD, CBG, and CBN. Indiva also introduced three new chocolates in the Alberta market under the Indiva 1432 brand. In May of 2023, Indiva and Canopy Growth entered into a contract manufacturing agreement under which Canopy received control of all distribution, marketing, and sales of Wana brand products in Canada. Indiva received the exclusive right to manufacture and supply Wana branded products in Canada and Canopy for a period of five years, with the ability to renew for an additional five-year term on mutual agreement of the parties. As consideration, Indiva completed a non-brokered private placement offering of common shares of Indiva, whereby Canopy subscribed for an aggregate purchase price of CAD 2.1 million. The balance of the consideration, which is just shy of CAD 700,000, will be paid by Canopy to Indiva on May 30th, 2024. In August 2023, Indiva launched a new value-focused brand called No Future, including gummies and vapes. The company shipped product to B.C. and Alberta in August and completed initial shipments to Ontario in late September. Looking specifically at the launch of No Future gummies, since their introduction in 2023, Indiva has sold more than 3.6 million units, ranking number two in market share by dollars in B.C., number four in Alberta, and number six in Ontario. The gummy SKU count has since grown to seven. Aggregate weekly depletions for No Future gummies continue their robust rise as the brand and its value proposition gain awareness with consumers and budtenders across the country. In Q3, Indiva amended the terms of its existing non-revolving term loan facility with SNDL and has also entered into a supply agreement whereby SNDL will supply the company with certain distillate products on an exclusive basis. Turning to events subsequent to year-end, Indiva announced the closing of a previously announced private placement offering pursuant to the listed issuer financing exemption. The company issued just over 9 million units for aggregate proceeds of CAD 906,000. During the product introduction since year-end, for Pearls, we launched Pearls Lemon Dream CBN, a 25-pack offering, which follows on the success of the Marionberry CBG 25-pack and the Peach Mango CBD 25-pack. On No Future, Indiva launched four additional No Future 1.2 g 510 vapes, including Grape Vape, Peach Punch, Tropical Island Haze, and Pink Grapefruit Kush, bringing total No Future vape SKUs in market to seven. Additionally, the company launched two new No Future gummy flavors, The Red One and The Pink One, bringing total No Future gummy SKUs in market to seven. Additionally, the company launched No Future Fatty Patty, an innovative chocolate-covered chocolate chip cookie dough edible with 10 mg of THC per pack. On Blips, Indiva launched a 55-pack to complement the existing 25-pack of these innovative ingestible extracts. The 55-pack of Blips is available in Alberta and B.C., with the Ontario launch slated for June of 2024. Subsequent quarter-end, Indiva announced a further loan amendment with SNDL. Indiva repaid CAD 2 million in principal amount outstanding pursuant to the prom note and shall work to reduce other current liabilities in the near term. In consideration for the repayment of the CAD 2 million, the amending agreement removed the company's covenant under the promissory note to ensure a CAD 2 million minimum unrestricted cash balance at all times. The maturity date of the promissory note, I know, continues to be February 24, 2026. The company has also retained SSC Advisors as its financial advisor to assist the company in evaluation of potential strategic alternatives intended to maximize shareholder value, including financing alternatives to merger, amalgamation, plan of arrangement, consolidation, reorganization, or other similar transactions. SNDL and Indiva continue to act as commercial partners, and SNDL remains supportive of Indiva in this process. Please note, we will not be providing any further detailed information on this process at this time. We will provide further updates when appropriate. Finally, I'd like to thank all of Indiva's employees, including our dedicated staff at our facility in London, Ontario, for their continued hard work as we ramp production of new products and brands, and also our sales and marketing staff who have worked tirelessly to support the launch of new Indiva brands and products across Canada. Thank you, and I'm sure cannabis enthusiasts everywhere in Canada, thank you too. I'll now turn it over to Indiva's Chief Financial Officer, Jennifer Welsh, to review the financial results in greater detail. Thank you, Niel. I'll review Indiva's financial performance for fiscal Q4 and the year ended December 31st, 2023. Gross revenue in the fourth quarter increased 22% year-over-year and 16% sequentially to a record CAD 12.6 million. For fiscal year 2023, gross revenue increased 11% year-over-year to a record CAD 41.9 million. Net revenue increased 17% year-over-year and increased 11% sequentially to a record CAD 10.9 million in the quarter, driven mainly by strength in Pearls gummies and No Future gummies and vapes. For the year, net revenue increased 9% year-over-year to a record CAD 37.6 million despite significant declines in revenue for 2022 from Wana and from discontinued products, including lozenges. Overall, edibles accounted for 88% of net revenue in Q4 and 87% on a year-to-date basis. In Q4 2023, Indiva sold products containing a record 218 million mg of distillate and isolate, which represents a 44% increase when compared to the 152 million mg in products sold in Q3 2023 and a 166% increase compared to 82 million mg sold in Q4 2022. For fiscal 2023, Indiva sold products containing 564 million mg of cannabinoids, which represents a 138% increase when compared to 237 million mg in products sold in 2022. Gross profit before impairments and one-time items was a record CAD 4.2 million, up 53% versus last year and up 15% versus Q3 2023. Gross margin improved to a record 38.5% of net revenue versus 37.1% in Q3 2023 and 29.3% in Q4 2022. The improvement in gross margin was due to higher sales, improved operating efficiencies, and a positive mix shift towards higher margin products. For 2023, gross profit before impairments improved by 26.9% to a record CAD 13.2 million or 35.1% of net revenue versus CAD 10.4 million or 30.2% of net revenue for the year ended December 31, 2022. Operating expenses in the quarter decreased 19% year-over-year to CAD 3.1 million, a record low of 28.9% of net revenue versus 31% in Q3 2023 and 42% in Q4 2022. Operating expenses declined year-over-year due to lower general administrative costs, lower marketing costs, and lower R&D and share-based compensation. For the year, operating expenses decreased by 11% to CAD 12.6 million versus CAD 14.3 million for the year ended 2022, primarily due to lower marketing and sales expenses, lower R&D expenses, and lower share-based compensation. As a percentage of net revenue, operating expenses decreased to 33.7% for 2023 versus 41.4% in 2022. EBITDA was a record +CAD 900,000 or 8.1% of net revenue in the quarter. Adjusted EBITDA increased sequentially in Q4 2023 to a record profit of CAD 1.5 million or 13.9% of net revenue versus a profit of CAD 1 million in Q3 2023 and a loss of CAD 600,000 in Q4 2022. For the year, EBITDA was a record positive CAD 1.6 million or 4.2% of net revenue in 2023 versus a loss of CAD 4.8 million in 2022. Adjusted EBITDA improved to a profit of CAD 2.4 million versus a loss of CAD 1.5 million last year. Income from operations was CAD 500,000 versus CAD 13,000 in Q3 2024 and a loss of CAD 1.7 million in Q4 2022. A significant improvement in income from operations was driven by higher sales of core brands, improved margins, and lower operating expenses. Comprehensive net loss included one-time expenses and non-cash charges, including inventory impairments totaling CAD 500,000 in Q4 2023 and CAD 400,000 in Q4 2022. Including these charges, comprehensive loss declined to CAD 200,000 in Q4 2023 or earnings per share of zero versus a loss of CAD 2.3 million in Q4 2022 or earnings per share of CAD -0.01. The cash balance at year-end was CAD 2.2 million. Looking forward, the company expects Q1 2024 net revenue will be flat on a sequential basis, primarily due to seasonality. However, based on purchase orders and deliveries, the month of April is on track for record net revenue greater than CAD 4 million. Margins are expected to be lower sequentially in Q4 2024 due to lower sales, offset by positive mix shift, and the benefit of the implementation of automation in the production and packaging of edible products. For fiscal year 2024, the company expects to generate record net revenue and record EBITDA, driven by continued strength in its core brands, bolstered by new product introductions, and continued efficiency gains at the production facility from automation and process improvements. Thank you, Jen. Operator, I think with that, we'll open it up to questions. Thank you. Ladies and gentlemen, we will now begin the question and answer session. Should you have a question, please press the star followed by the one on your touch-tone phone. You will hear a prompt that your hand has been raised. Should you wish to decline from the polling process, please press star followed by two. If you are using a speakerphone, please lift the handset before pressing any keys. One moment, please, for your first question. Ladies and gentlemen, as a reminder, if you have any questions, please press star one now. First question comes from Dave Kupka from Manor Financial. Please go ahead. Dave, your line is open. Please proceed with your question. We don't appear to have any further questions. I'll turn the call back over to Niel Marotta. Okay, well, thank you, everyone, for attending the call. We're going to get back to work and look forward to speaking to you all again in late May when we release our first quarter 2024 results. Thanks, everyone. Ladies and gentlemen, this concludes your conference call for today. We thank you for participating, and we ask that you please disconnect your.