Brian Shure - May 8, 2021 Form 3 Insider Report for Lowell Farms Inc. (LOWLF)

Role: Chief Financial Officer, Director
Signature: /s/ Brian K. Shure
Stock symbol: LOWLF
Transactions as of: May 8, 2021
Transactions value $: $0
Form type: 3
Date filed: 5/10/2021, 03:53 PM
Next filing: Sep 1, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	LOWLF	Subordinate Voting Shares						34.8K	May 8, 2021	Direct
holding	LOWLF	Subordinate Voting Shares						182K	May 8, 2021	see footnote	F1

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	LOWLF	Options							May 8, 2021	Subordinate Voting Shares	300K	$1.35	Direct	F2
holding	LOWLF	Restricted Stock Units							May 8, 2021	Subordinate Voting Shares	75K		Direct	F3, F4
holding	LOWLF	Warrants (right to buy)							May 8, 2021	Subordinate Voting Shares	91K	$1.81	see footnote	F1, F5

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

Explanation of Responses:

Id	Content
F1	Ambrose Capital Holdings, LP is the record holder of the Subordinate Voting Shares and warrants. Mr. Shure is the President of Ambrose Capital Partners, LLC, which is the general partner of Ambrose Capital Holdings, LP. Mr. Shure disclaims beneficial ownership of the Subordinate Voting Shares and warrants held by Ambrose Capital Holdings, LP except to the extent of his pecuniary interest therein.
F2	50,000 of the options vested and became exercisable on November 9, 2020. The remaining options vest and become exercisable in four equal annual installments beginning on November 9, 2021.
F3	The restricted stock units vest in three equal annual installments beginning on January 1, 2022.
F4	Each restricted stock unit represents a contingent right to receive one Subordinate Voting Share on the applicable vesting date.
F5	The exercise price was converted from $2.20 CAD using the closing rate of exchange of the Bank of Canada on May 7, 2021. The actual exercise price is the Canadian dollar amount regardless of the exchange rate on the date of exercise.