DON NICHOLSON - 08 Jul 2021 Form 3 Insider Report for AGRIFORCE GROWING SYSTEMS LTD. (AGRI)

Role: Director
Signature: /s/ Donald Nicholson
Issuer symbol: AGRI
Transactions as of: 08 Jul 2021
Net transactions value: $0
Form type: 3
Filing time: 27 Jul 2021, 13:03:55 UTC
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	AGRI	Common shares						144,230	08 Jul 2021	Direct
holding	AGRI	Common shares						437,290	08 Jul 2021	By 0902550 BC Ltd.

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	AGRI	Stock options							08 Jul 2021	Common shares	30,070	$3.80	Direct	F1, F2, F3
holding	AGRI	Stock options							08 Jul 2021	Common shares	24,642	$7.00	Direct	F2, F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The shares subject to such option vest and become exercisable annually in substantially equal installments over a two-year period, with the first tranche vested at the date of grant of June 30, 2020, subject to the Reporting Person's continuous service to the Issuer on each such date.
F2	If permitted by the policies of any stock exchange on which the Issuer may be listed from time to time, the stock option may be exercised by means of a "cashless exercise", in which event the Issuer shall issue to the holder the net number of common shares determined based on the formula presented in the exhibit to the stock option certificate.
F3	The exercise price reported above was converted from the Canadian exercise price of CAD $4.75 using an exchange rate of CAD $1.25 = US $1.00.
F4	The shares subject to such option vest and become exercisable annually in substantially equal installments over a three-year period, with the first tranche to be vested on the three-month anniversary of date of grant of May 31, 2021, subject to the Reporting Person's continuous service to the Issuer on each such date.