08:37 AM EST, 01/05/2026 (MT Newswires) -- EMERGE Commerce's ( EMCMF ) Chief Executive Ghassan Halazon on Monday issued a shareholder letter titled "Re-EMERGE: Reflections and the Road Ahead".

Halazon said every capital allocation decision now begins and ends with enhancing profitability, and "ultimately" cash flow generation, with the goal of "reinvesting into future growth and lowering its cost of capital, re-enforcing the flywheel." The company will also continue to aim for moderate, positive organic revenue growth, with higher growth expected to be derived from acquisitions, as demonstrated by T2G's impact.

The company said despite meaningful debt reduction, and vastly improved profitability, its senior facility still carries an interest rate (variable) of about 11%, down from a peak of about 13.75%. The CEO believes there is a near-term opportunity to refinance its facility on more favourable terms with a clear turnaround track record.

"While there are no guarantees, we are actively engaging Canadian banks and other lenders to evaluate opportunities to reduce cost and extend the facility longer-term, all the while maintaining operational flexibility," said Halazon. "On the back of the success of the T2G acquisition, future acquisitions must reflect the spirit of that transaction: disciplined pricing that clears our return on invested capital ("ROIC") hurdle rates, cash-flow positive within the first year, and meaningful synergies with our existing portfolio."

Shares of the company closed down 3.7% to $0.13 on Friday on the TSX Venture Exchange.