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

Role
Director
Signature
/s/ Kevin McGrath
Stock symbol
LOWLF
Transactions as of
May 8, 2021
Transactions value $
$0
Form type
3
Date filed
5/11/2021, 04:58 PM
Next filing
Jan 4, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding LOWLF Subordinate Voting Shares 688K May 8, 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 May 8, 2021 Subordinate Voting Shares 75K Direct F1, F2
holding LOWLF Convertible Debenture of Indus Holding Company May 8, 2021 Subordinate Voting Shares 5.02M $0.20 Direct F3, F4
holding LOWLF Warrants (right to buy) May 8, 2021 Subordinate Voting Shares 5.02M $0.28 Direct
holding LOWLF Warrants (right to buy) May 8, 2021 Subordinate Voting Shares 135K $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.