Kevin Francis McGrath - 08 May 2021 Form 3 Insider Report for Lowell Farms Inc. (LOWLF)

Role: Director
Signature: /s/ Kevin McGrath
Issuer symbol: LOWLF
Transactions as of: 08 May 2021
Net transactions value: $0
Form type: 3
Filing time: 11 May 2021, 16:58:46 UTC
Next filing: 04 Jan 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	LOWLF	Subordinate Voting Shares						688,000	08 May 2021	Direct

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	Restricted Stock Units							08 May 2021	Subordinate Voting Shares	75,000		Direct	F1, F2
holding	LOWLF	Convertible Debenture of Indus Holding Company							08 May 2021	Subordinate Voting Shares	5,015,984	$0.2000	Direct	F3, F4
holding	LOWLF	Warrants (right to buy)							08 May 2021	Subordinate Voting Shares	5,015,984	$0.2800	Direct
holding	LOWLF	Warrants (right to buy)							08 May 2021	Subordinate Voting Shares	135,000	$1.81	Direct	F5

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

Explanation of Responses:

Id	Content
F1	The restricted stock units vest on December 31, 2021.
F2	Each restricted stock unit represents a contingent right to receive one Subordinate Voting Share on the vesting date.
F3	The principal amount of the Convertible Debenture is convertible into Class C Common Shares of Indus Holding Company ("Class C Common Shares"). Class C Common Shares may be redeemed at the option of the holder for Subordinate Voting Shares of the issuer on a one-for-one basis in accordance with the certificate of incorporation of Indus Holding Company. Class C Common Shares may be redeemed at any time and have no expiration date.
F4	Interest accrues on the Convertible Debenture and is payable quarterly in arrears; any accrued and unpaid interest at the time of conversion of the Convertible Debenture is convertible into additional Class C Common Shares at $0.20 per share.
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.