GURU Organic Energy Corp. (GURU) Earnings Call Transcript & Summary

Welcome to the Annual Meeting of Shareholders of GURU Organic Energy Corp. Please note the meeting is being recorded. I would like to introduce Mr. Carl Goyette, Chairman of today's meeting. Mr. Goyette, the floor is yours.

[Foreign Language] Please note that this meeting is being held in both official languages, and questions will be -- may be asked in either language and will be answered accordingly. Before moving to the formal part of the meeting, I would like to congratulate the entire GURU team, that is, our employees, the leadership team, our Board of Directors and our partners for their dedicated work and their contributions all year long. The year 2024 marks our 25th year of existence and anniversary that we're happy to be able to celebrate, thanks to our loyal consumers, always more numerous, and we give them our thanks. I believe 2024 will also be an important year for GURU, thanks to the initiatives put in place during the last quarters to allow our brand and number of consumers to grow even bigger. More than ever, we have all the ingredients needed to make GURU a success in disrupting this $20 billion industry for our stakeholders and our shareholders. [Foreign Language] Ingy, over to you.

[Foreign Language] Good afternoon, ladies and gentlemen. We would like to remind you that registered shareholders and registered proxy holders are the only persons entitled to vote or to ask questions during the shareholder question period at the end of the meeting. We will conduct the votes on all matters before us by poll using the online platform. The poll will be opened for all motions and resolutions at the same time. This will allow you to choose to vote on each motion and resolution immediately or to wait until the conclusion of discussion prior to casting your vote. Once discussion on all items of business have been concluded, we will take a short pause before declaring the voting closed on all resolutions, so please make sure you have voted ahead of this time. To vote, please click on the voting icon on the left of your screen, then simply select your voting direction for each resolution laid out in turn. It's important to add that a vote cannot be canceled once submitted. If you have already voted by proxy, it is not necessary to vote again. Please note that if you choose to vote again, only your vote cast during the meeting will be counted, and the vote that you submitted by proxy will be revoked. Once the voting has opened, the resolutions and voting choices will be displayed. We will now declare the polls open. We have received satisfactory proof that the notice calling this meeting was duly publicized and sent to the shareholders of the company. Carl Goyette has been designated to act as a proposer, and Joe Zakher will act as a seconder. Please note that both Carl and Joe are shareholders of the company. [Foreign Language] Once the formal part of the meeting is terminated, we will proceed with a question-and-answer period. Any shareholder wishing to ask a question should, at the appropriate time during the question-and-answer period, submit their questions through the online platform in English or French. [Foreign Language]

My name is Carl Goyette, and I move that the following be nominated as directors of the company: myself, Carl Goyette; Eric Graveline; Joseph Zakher; Alain Miquelon; and Philippe Meunier.

My name is Joe Zakher, and I second the motion.

I confirm that to my knowledge, the company has received no written notice from a shareholder nominating another individual for election to the Board of Directors within the period prescribed by the bylaws. [Foreign Language] The last item on the agenda is the appointment of the auditors for the fiscal year ended on October 31, 2024, and the authorization of the directors to determine of the remuneration. I would ask a motion for the appointment of the auditors.

My name is Carl Goyette, and I move that KPMG, chartered professional accountants, be appointed auditors of the company for the fiscal year ending on October 31, 2024, and that their remuneration be determined by the Board of Directors.

My name is Joe Zakher, and I second the motion.

As we have now covered all of the items of business of the formal portion of the meeting, we ask that all registered shareholders and proxy holders complete and submit their votes now if they have not already done so. I remind you that if you have already voted by proxy, it is not necessary to vote again. [Voting]

The voting period is now closed for all of the items of business on the meeting agenda. We will now take a short break to tabulate the votes. [Foreign Language] As there are no other matters to be presented before the meeting, I will now ask for a motion to close the formal portion of the proceedings.

My name is Carl Goyette, and I move that the meeting be closed.

My name is Joe Zakher, and I second that motion.

I now declare the formal portion of the meeting terminated. Before moving to the question-and-answer period, I would like to remind everyone that only shareholders or proxy holders can ask questions and that instructions for asking a question appear on your screen. I would like to remind everyone that today's management remarks may contain forward-looking statements about GURU's current and future plans, expectations and intentions, results, level of activity, performance, goals or achievements or other future events or developments, which could cause GURU's actual results to differ materially from those expressed or implied by forward-looking statements. As a result, you are cautioned not to place undue reliance on them. In addition, please be aware that there may be references to certain financial measures that are not recognized according to International Financial Reporting Standards. Please refer to the non-GAAP financial measures section of our latest MD&A for the period ended October 31, 2023, for a reconciliation of these measures to IFRS measures and additional information. We will now proceed with the shareholder question-and-answer session [Operator Instructions]. Please note that this meeting is being held in both official languages and questions may be asked in either language and will be answered accordingly. [Foreign Language] [Operator Instructions] Since there are no questions, I believe this concludes our meeting today. [Foreign Language]

[Foreign Language] Operator, back to you.

Thank you, everyone, for joining today's meeting. You may now disconnect.