Good morning. Welcome to Taiga's second quarter 2021 conference call. Joining us today are Taiga's CEO, Samuel Bruneau, and CFO, Mark Orsmond. Following their remarks, we will open the call to your questions. Before we conclude, I'll provide the necessary cautions regarding the forward-looking statements made by management during this call. I would like to remind everyone that this call will be recorded and made available for replay via a link available in the investor relations section of the company's website at ir.taigamotors.ca. I would like to turn the call over to Taiga's CEO, Samuel Bruneau. Sir, please proceed. Thank you. Welcome everyone, and thank you for joining today. Before the market opened, we issued a press release announcing our results for the second quarter ended June 30th, 2021. A copy of the press release is available on the investor relations section of our website. I encourage all listeners to view our release for additional information on what we'll be discussing today. With that, let's get started. Understanding that many of you might be listening, might be new to Taiga's story, I'd like to begin with a brief overview of our business. After that, I'll turn the call over to our CFO, Mark Orsmond, to discuss our financial results for the quarter. Following Mark's discussion of financials, I'll come back on to provide closing remarks before turning the call over to questions. With that, let's get started. The second quarter of 2021 was marked by several milestone achievements for Taiga, notably our successful transition into a public company. The key points I'd like to highlight during this call are, firstly, since going public, we've seen a marked increase in awareness and demand from fleets and individuals alike. Secondly, in a demonstration of agility and perseverance in the face of supply chain disruptions, we're ramping up production to begin deliveries on both watercraft and snowmobile product lines this year. With the proceeds from the SPAC transaction and recently announced government support, Taiga remains on track to achieve its growth roadmap without further capital raises. With these milestones, I'm excited that Taiga is rapidly advancing on its mission it first set out back in 2015. We founded Taiga to accelerate electrification of the off-road powersport industry with no-compromise vehicles that transform the way people access the outdoors. We believe that a fundamental shift towards electrification would only be possible by developing technologies and products that could outperform the best combustion equivalents while doing so at a competitive price. Since the company's inception, Taiga has continued to lead off-road powersport electrification by taking on the challenge of engineering electric powertrains and vehicles from a clean sheet, from the ground up to deliver performance, reliability, and cost in vehicles operating on some of the harshest terrains on the planet. What we believe sets us apart is our proprietary integrated electric powertrain technology designed from the ground up, including the motors, inverters, battery modules, battery packs, electronics, thermal management systems, chassis systems, and the entire software stack on top of it, all optimized together to offer leading power, weight, and durability in extreme off-road conditions. It is that technology and our ability to innovate unconstrained from legacy combustion products that continues to create a significant competitive advantage for Taiga and its mission to lead powersport electrification. In 2020, as preorders for our vehicles began to increase, we realized that Taiga would need to take additional steps to support the outsized demand we were seeing. With increased capital, we could ramp up our operations and production and move closer to realizing our long-term goals for the company. Earlier this year, we successfully completed our SPAC merger with Canaccord Genuity Growth II Corp. and simultaneously closed a CAD 100 million private placement. The transaction resulted in approximately CAD 137 million of net cash proceeds that will help fuel operations moving forward. As a result of the completion of the transaction, Taiga is also publicly listed on the Toronto Stock Exchange, making us the first pure-play EV powersports manufacturer to accomplish this feat. The capital we received from the SPAC transaction will be key to our business growth efforts, which I will discuss in greater detail in just a few minutes. At a high level, it has allowed us to round out our suite of products, increase our sales and marketing efforts, expand production capacity, increase headcount, and build confidently for the future. As a result of the transaction, we are much closer to realizing our vision of widespread adoption of Taiga vehicles, creating a positive future for outdoor exploration without compromise. Getting back to product, today we are currently focused on launching production for both electric snowmobiles and personal watercraft that share the same Taiga powertrain. To get these products to market, we are employing a 4-pillar approach, of which the 2 pillars are the core of our business. The 4 pillars are, 1st, direct sales of our snowmobiles and personal watercraft to recreational customers. 2nd, the sales of our vehicles to fleet operators, such as sea resorts, tour operators, and commercial fleet operators. 3rd, the 3rd pillar revolves around supplying our modular powertrain assemblies to different OEMs in adjacent industries. Our 4th-generation powertrain is a modular hardware and software platform that is designed to simplify production and assembly and decrease development times of both Taiga and our potential OEM partners. This approach will help broaden the scope of Taiga's efforts to electrify off-road vehicles. Lastly, we intend to engage in aftermarket sales of parts, upgrades, apparel, and other accessories. We expect a lot of exciting developments across each of these pillars in our company, and I look forward to sharing our story with you in the coming quarters. With that overview completed, I'll get into the recent updates from this quarter. Ramping up operations towards production was the primary focus of our efforts this quarter, and we made meaningful progress positioning us to begin deliveries this year on both watercraft and snowmobile lines. As announced in July, we secured an additional CAD 50 million in government funding for our future mass production assembly facility. Once fully operational, this factory will allow Taiga to become the first Canadian EV manufacturer to integrate both automated electric powertrain assemblies and electric vehicle platforms under one roof, which we expect will greatly increase efficiency. The facility is planned to have a capacity to produce up to 60,000 vehicles and 80,000 powertrain assemblies per year, representing over 3 gigawatt hours of battery packs per year by 2025. In the interim, we are launching production in our new Montreal facility, our newly commissioned 130,000 square foot facility that more than doubles the previous footprint we had in the first quarter. The additional investments have allowed us to accelerate strategic insourcing and automation to decrease cost of goods and increase throughput to ramp up 2021 and 2022 deliveries. The new facility will serve as Taiga's headquarters and is situated near Taiga's secondary advanced R&D building for rapid manufacturing integrations during the first ramp-up phase. Moving to sales. Prior to and since going public, we've seen a meaningful increase in awareness and interest from our products from fleet and individual customers alike. In just the first seven months of the year, we've grown our total reservation book by 86% to over 2,300 pre-orders. By region, about 78% of pre-orders have come from North America, 18% from Europe, and 5% from the rest of the world. More than half of the non-fleet pre-order reservations have been from buyers that will be first-time powersport owners. From a marketing perspective, we believe that these data points are strong indicators of growing demand for sustainable energy provided recreational activities. We now have the global pre-orders from over 57 fleets. Corporate prospects have also expanded from ski hill operators to include additional categories such as search and rescue and tourism organizations. We are currently in active dialogue with over 200 fleet operators. Given the environmental impact and electrification of commercial operators and the greater ROI we can derive from this customer segment in the near term, Taiga will be prioritizing fleet deliveries ahead of recreational units this year. In June, we launched our Orca online configurator tool. Customers who have deliveries slated for this year now have the ability to order and customize their Orca personal watercraft with a wide selection of premium paint colors, seat options, and trim levels. Each customer will also be paired with a Taiga experience specialist to tailor their Orca from configuration to demonstration experience and do final handoffs. With improvements to our sales process, such as the Orca online configurator, as well as upcoming launch of our new omni-channel retail platform, we can offer customers a more streamlined and robust e-commerce experience. With our expanded digital marketing strategy, we are continuing to see an increase in pre-orders in recent months without any advertising spend. Before I go any further, I'd like to turn over the call to our CFO, Mark Orsmond, to go over our financials over the last fiscal year. Mark? Thanks, Sam, and thank you to everyone on the call today. This morning we issued a press release to discuss the results of our operation, and additionally, further Form 6-K was filed as well. I'd like to recommend going through some of the materials in more detail and information that's being presented on this call, and that's read in conjunction with what our comments are this morning. Before I begin operating, I just want to highlight that for the foreseeable future, as a result of several factors, Taiga has decided that it will refrain from making production earnings. This is in line with what some other companies have done. We've done a lot of thoughts and a lot of introspection around this point. The reason why we have decided this is primarily because we have a very aggressive production and ramp-up process. We have many external factors that are influencing our supply chain as a result of COVID. There's additionally logistics considerations and notwithstanding a very highly competitive labor market that despite our present success, at this point in time, we're not too sure if anything changes going forward. At this point, we're not concerned, but it's the combination of all these factors which we have really decided that we don't want to make earnings projections and provide forward forecasts and not meet those. We want to deliver on what we say. Subject to these factors, we will be monitoring them, and the minute they get less influential, we will reevaluate our approach. With respect to the financial projections, and when we feel confident that we have a handle on our forecasts, then we can reengage in that process. For the moment, we are not going to be making any forward projections. This quarter, the results of this quarter, as Sam has said, it's transformative. The company received CAD 137 million in cash resources, which is our net, after CAD 151 million financing, which combined the SPAC as well as the PIPE. If you have a look at our balance sheet, from an accounting perspective, this was treated as an RTO process. Consequently, the results of Taiga, our original private company, are now used for comparative purposes. It's pretty difficult to make meaningful comparisons when you have a look at what the company is now in this first quarter versus the quarter when we were a small little company a year ago. Exciting the transformation, but from a comparison, it sort of doesn't give you much meaningful comparisons. What we'd like to discuss now is moving ahead. We started approximately, we recorded a total of about CAD 4.5 million for the quarter in G&A, SG&A this year, this quarter, with compared to sort of CAD 113,000 in Q2 2020. That's why this is sort of not that meaningful. The big buckets that were spent is the research and development. Although in our income statement, we're showing a CAD 1.4 million expensed, we actually for the first time capitalized CAD 2.7 million, and it was the SPAC transaction that provided the sufficient capital mass to really produce that to go into production and consequently allowed us to put these assets on the balance sheet and then we'll depreciate them over their useful lives. Combined, when you take the CAD 2.7 million, the CAD 1.4 million, nearly CAD 1.5 million, we're looking at about CAD 4.1 million that was actually spent to research and development this quarter. General and administration, G&A costs increased to CAD 1.3 million from that CAD 1.4 million in the same quarter last year. If you have a look at this, it was primarily responsible for sort of the administration of the company, some salaries and wages, setting up production and some Pubco expenses. It was not significant. A number of those will be normalized out obviously with when we take the G&A out of it. One of the surprises in going public through the SPAC was the cost of D&O insurance, which was significantly more than we had thought. We're amortizing that over time and we're not alone in this. I think many companies are suffering from increased insurance rates. On our sales and marketing, a tremendous effort has been put into sales and marketing. We increased our spend by CAD 754,000 this quarter and a number of initiatives to make sure that the company strategy is moving towards a digital strategy. It's customer engagements, it's corporate websites, streamlining processes, engagement with all the various fleet operators. A lot of effort and energy has gone into that to build that order book and to make sure that it's robust. When you have a look at the income statement, you'll see a net loss of around CAD 55 million. The CAD 4.9 million approximately was our actual quarter spend. Around CAD 50 million of this was what we call fair value over the assets, which is the reverse accounting transaction, which is non-cash in nature. That resulted in that sort of big loss coming through this quarter. As mentioned, this was more primarily an accounting effect in terms of efforts than it was an actual cash transaction or physical cash going out the door. With regards to our cash process and our cash management, as of June 30th, 2021, the company had approximately CAD 125 million in cash and compared to a cash equivalent of CAD 7.8 million the previous year. We believe that our current cash position is going to be sufficient going forward, as Sam mentioned. We don't see the need to raise additional equity to execute our current strategy. There may be a debt requirement, working capital requirement which we can sort of get through commercial banking as we understand more the ramp-up of our working capital requirements. We think that we have sufficient capital base to attract that debt. From a financing perspective, I think that the company is presently confident that for the foreseeable future, we do not need to raise any further funding. For the six months ended June, net cash from operating activities, we used CAD 16.3 million. We spent aggressively compared to the CAD 87 million for the same period last year. Increase was mainly due to changes in working capital, namely accounts receivable, inventory, prepaid expenses. On the balance sheet, you will see sort of accounts receivable coming in. That's predominantly from GST and taxes owed to Taiga as a result of our spend from a total CAD 16 million. The net cash used in investing was about CAD 3.3 million compared to CAD 5 million for the same period last year. Increase again, was due to prototype builds, equipment and everything Sam had said that our focus was on this quarter. For the six months, the net cash provided on financing activities was the CAD 137 million, which we received from the SPAC. In all, we would like to just say that from a financial perspective, we've got a number of initiatives taking place at Taiga to sort of ramp to get to our commercial ramp up and fairly confident that from a finance perspective, we're putting in the systems now that's going to get us to that mass scale production. With that concludes my financial overview and let me turn it back to you, Sam, for further discussions. Thanks, Mark. Since closing our SPAC transaction in April, we've been solely focused on getting our units into production. To that end, through the first two quarters of this year, we've increased headcount over 67% to 90 total employees, more than half of whom are in engineering and innovation-related roles. We have made significant progress in both our personal watercraft and snowmobile despite the well-documented global microprocessor shortages, which is a testament to the adaptability and creativity of our R&D and engineering teams. Because we take full ownership in the development of our powertrain platform, we're able to iterate around unforeseen supply chain constraints, changes to hardware, and software components were designed and implemented ahead of the pre-order configuration open. Looking ahead, we believe we have all the necessary resources to execute on our expanded production efforts and intend to continue to be capital efficient as we make material long-term investments in our new mass production facility and scale up production over the coming months. In summary, the first half of 2021 was a period of tremendous growth and progress, as well as several milestone achievements for our company. As the only mass-production-ready electric off-road powersport vehicle manufacturer, we will continue to push technological boundaries with an aim to offer class-leading vehicles in this segment and capitalize on the rising interest in electric vehicles and related technologies. With that, we are ready to open the call for your questions. Operator? Thank you. One moment please while we poll for questions. Thank you. Our first question is from the line of Derek Dley with Canaccord Genuity. Please proceed with your question. Yeah. Hi, Sam and Mark, and congrats on what was obviously a very busy and transformative quarter. I wanted to start, Sam, your comment on fleet orders. I think you mentioned that you've had orders from 57 different fleet operators thus far. I think in the IPO, you commented about 15% of pre-orders roughly so far were from fleet. Can you give us an update on that number? Yeah. The fleets are certainly dominated by the snowmobile categories, with a few in the personal watercraft categories as well. In the snowmobile category, we're seeing almost up to 50% of these coming from fleet operators at the moment. Okay. That's great. That's helpful. When you think about the retail buyer, can you maybe describe to us who this buyer is? Is it an existing powersport user? Is it someone who's new to the market altogether? If you have any numbers you could put around that'd be helpful. I think we're seeing a very interesting trend develop on the retail side, where there's 2 sets of buyers for Taiga's products. There's the first more traditional powersport user set, which is being attracted into this new electric category, primarily from the superior performance aspect and the lower maintenance part of it. We have an entirely new set of buyers. Kind of as we mentioned earlier in the call, almost 50% of our non-commercial buyers are first-time buyers into the powersport segment of personal watercraft, especially. These are types of people that maybe avoided powersport in the past because of their perceived environmental impacts. Now with electric, it's really opening up a whole new market of buyers, and Taiga sees the potential of potentially really growing the market space as a whole, with this new buyer coming in. When you think about just on the retail side, you mentioned fleet is dominated by snowmobile. I'd imagine retail is dominated more by the PWC? Yeah, correct. Okay. In terms of the capital as well, I think subsequent to quarter end, you're in the process of securing another CAD 50 million in funding from the Quebec government. That would leave you with about CAD 175 pro forma, CAD 175 million. How much do you need to complete the commissioning of the new Shawinigan facility? That's a project that Oh, sorry. No, no. You go ahead. Yeah. Thanks, Mark. That's a project that Taiga's investing approximately CAD 75 million in over the next three years. Does that include tooling for new product lines? Yeah, that includes the tooling for the new product lines. Okay, great. I guess just last one from me, and then I appreciate your comments, Mark. I think, again, previously you guys had mentioned a target of getting to sort of 10 units per day in production by the end of this year. Are you guys on track to do that despite some of the supply chain disruptions that everybody's experiencing right now? Yeah. Taiga remains on track to be able to achieve the production throughput capacity that we've been targeting. Of course, with the supply chain disruptions, there remains a certain uncertainty into the exact dates on production ramp-ups. Definitely confident in being able to deliver vehicles across both product lines and achieving this throughput by the end of the year. Okay, great. Thank you very much. Thanks, Derek. Thank you. As a reminder, you may press star one to ask a question. The next question is from the line of Cameron Doerksen with National Bank Financial. Please proceed with your questions. Thanks. Good morning. I had a few questions on the production ramp as well. I appreciate you've got some uncertainties here with supply chain, et cetera. I'm just wondering what, I guess, the new sort of throughput is now that you've got this sort of new facility in Montreal. You've talked in the past about kind of 2,000 units per year. Just wondering what the sort of new throughput is with the capacity that you'll have, I guess, in 2022 with this larger facility than what was originally planned. Yes. We're ramping up in the Montreal facility. Taiga Motors, we put in those 2,000 units per year. We're also being able to achieve our 2022 targets in Montreal with the facility having the capacity, depending on how fast we can ramp up to having up to 10,000 units produced a year in the Montreal facility. Okay. Once you ramp up, the theoretical capacity would be about 10,000 units per year. I guess, how is the timeline on the Shawinigan plant? You've got, obviously, the financing in place now. Are you still pretty confident that's going to be ready to go end of 2022? Yeah, I think we remain pretty confident on that timeline for an end of 2022 commissioning in the Shawinigan facility. Okay. Just on the supply chain challenges you're seeing, we're all very familiar with the chip shortage and the fact you've had to do some redesign work to accommodate a new chip architecture. What other supply chain challenges are you seeing right now? What other, I guess, components or raw materials are creating some more uncertainty? Beyond the core microprocessor shortage, it's kind of rippled out into the broader electronic space as well. That's something that we're continuing to monitor and make some small changes to adapt for production. I think globally, we've seen some delays in plastic supply availability especially as well. I guess none of those other supply chain issues are causing you concern that you won't be able to deliver the first units this year? No, there's nothing blocking us from a supply chain from delivering this year. I think it's just the exact timing, based on how fast we're pushing up against these milestones with the supply chain. Overall, the chip shortage is definitely the biggest factor at play. Okay. No, that's helpful. Maybe just last one from me, just on the, I guess, the dealer network, you've had some pretty good take-up and you've highlighted just an additional increase in applications. Are you able to talk about the number of actual signed dealers that you have now? How is the acceptance from the dealers that you're seeing of your distribution model, which is a little more different than a typical powersport dealer? Yeah. We're seeing a great acceptance of our new distribution model with the dealers. I can't share the exact numbers signed on. I think that's going to come next quarter as we officially roll out the dealer model structure and all our partners. Overall, great progress happening on that front, and we're really happy to see all the powersport dealers' enthusiasm to transition towards electric. Okay, great. No, I appreciate the time. I'll pass the line. Thanks very much. Thank you. Thank you. At this time, this concludes our question and answer session. I'd now like to turn the call back over to Mr. Bruneau for his closing remarks. Okay. Thank you everyone for joining the call today. I especially want to thank all our employees, our partners, and investors for their continued support. Operator? Before we conclude today's call, I would like to provide Taiga's Safe Harbor statement that includes important cautions regarding forward-looking statements made during this call. This call may contain forward-looking information within the meaning of applicable security laws. Although the corporation believes that the expectations and assumptions on which this forward-looking information is based are reasonable under certain circumstances, listeners are cautioned not to rely unduly on this forward-looking information, as no assurance can be given that it will prove to be correct. Forward-looking information contained herein is made as the date of this call, and the corporation does not undertake any obligation to update or revise any forward-looking information, whether as a result of events or circumstances occurring after the date hereof, unless so required by law. Please refer to the forward-looking statements section of our latest MD&A for more information. Thank you for joining us today for Taiga's second quarter 2021 conference call. You may now disconnect.