Yahoo Finance Lowell Farms Inc. (PNK:LOWLF) Q3 2023 Earnings Call Transcript
Lowell Farms Inc. (PNK:LOWLF) Q3 2023 Earnings Call Transcript November 14, 2023
Operator: Good morning, and welcome to the Lowell Farms Inc. third-quarter 2023 earnings conference call. [Operator Instructions]. I would now like to turn the conference over to Bill Mitoulas, Investor Relations Manager, please go ahead.
Bill Mitoulas: Good morning, and welcome to the conference call to discuss Lowell Farms Incorporated financial results for the fiscal third quarter of 2023. Before we begin, let me remind you that during the course of this conference call, Lowell Farms Incorporated management may make forward looking statements. These forward-looking statements are based on current expectations that are subject to risks and uncertainties that may cause actual results to differ materially from expectations. These risks are outlined in the Risk Factor section of our Form 10 filed on EDGAR and our listing statement filed on SEDAR. Any forward-looking statements should be considered in light of these factors. Please also note that in the outlook we presented as of today, and management does not undertake any obligation to revise any forward-looking statements in the future.
The call includes Ann Lawrence, Chairperson of the Board; Mark Ainsworth, Co-Founder and Chief Executive Officer; as well as interim Chief Financial Officer, Tessa O'Dowd, will go into detail about the company's financial results for the quarter later in the call. The Q&A portion of this call will be open to analyst questions to provide further insight into the company's performance, operations, and go-forward strategy. For those of you who may happen to leave our call before its conclusion, please be advised that this conference call will be recorded and archived on our Investor Relations website page. And now I'll turn the call over to Ann. Ann, please go ahead.
Ann Lawrence: Thank you, Bill, and thank you all for joining us for this Lowell Farms' earnings call. A year ago, we embarked on an ambitious restructuring strategy, and I'm pleased to announce that we successfully cleared one more of the major hurdles with the completion of the previously announced Brandco deal in connection with the elimination of our outstanding subordinated debt and alleviating the company's expenses associated with the brand. We are very excited about the opportunities this deal brings and as exclusive manufacturing and distribution partner for the Lowell Herb Co. brand in California. We look forward to extending our unwavering support as it maintains its leading position in a highly competitive, highly regulated California cannabis market.
The completion of this Brandco transaction allows the company to refocus on expanding our portfolio and building strong partnerships with other cannabis companies to rebuild the California marketplace. Currently, our portfolio includes several own brands as well as a well-rounded lineup of distributed brand partners throughout California. It is our goal as always, to further gain on our market position, focusing on brand awareness, and our commitment to an exceptional product to help us achieve that goal. While the challenges in this industry persist, we are along with the entire cannabis community, pushing forward every day to survive the current market condition with the goal of building a strong coalition to weather the storm. Overall, the sentiment within our organization is one of optimism.
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