George Allen - 08 May 2021 Form 3 Insider Report for Lowell Farms Inc. (LOWLF)

Role
Director, 10%+ Owner
Signature
/s/ George Allen
Issuer symbol
LOWLF
Transactions as of
08 May 2021
Net transactions value
$0
Form type
3
Filing time
18 May 2021, 08:56:51 UTC
Next filing
29 Jun 2021
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 267,000 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 Convertible Debenture of Indus Holding Company 08 May 2021 Subordinate Voting Shares 3,804,303 $0.2000 . F1, F2, F3
holding LOWLF Convertible Debenture of Indus Holding Company 08 May 2021 Subordinate Voting Shares 800,063 $0.2000 . F1, F2, F4
holding LOWLF Convertible Debenture of Indus Holding Company 08 May 2021 Subordinate Voting Shares 52,537,438 $0.2000 . F1, F2, F5
holding LOWLF Warrants (right to buy) 08 May 2021 Subordinate Voting Shares 133,500 $1.81 Direct F6
holding LOWLF Warrants (right to buy) 08 May 2021 Subordinate Voting Shares 3,804,303 $0.2800 . F3
holding LOWLF Warrants (right to buy) 08 May 2021 Subordinate Voting Shares 800,063 $0.2800 . F4
holding LOWLF Warrants (right to buy) 08 May 2021 Subordinate Voting Shares 52,537,438 $0.2800 . F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The principal amount of each 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.
F2 Interest accrues on the Convertible Debentures and is payable quarterly in arrears; any accrued and unpaid interest at the time of conversion of a Convertible Debenture is convertible into additional Class C Common Shares at $0.20 per share.
F3 Geronimo Capital is the record holder of the Convertible Debenture and warrants.
F4 CVOF Manager is the record holder of the Convertible Debenture and warrants. Mr. Allen disclaims beneficial ownership of the Convertible Debenture and warrants held by CVOF Manager except to the extent of his pecuniary interest therein. Geronimo Capital disclaims beneficial ownership of the Convertible Debenture and warrants held by CVOF Manager.
F5 Geronimo Fund is the record holder of the Convertible Debenture and warrants. Mr. Allen disclaims beneficial ownership of the Convertible Debenture and warrants held by Geronimo Fund except to the extent of his pecuniary interest therein. Geronimo Capital disclaims beneficial ownership of the Convertible Debenture and warrants held by Geronimo Fund.
F6 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.

Remarks:

This Form 3 is filed on behalf of George Michael Harden Allen and Geronimo Capital LLC ("Geronimo Capital"). Mr. Allen is the sole member of Geronimo Capital and the sole manager of Geronimo CVOF Manager, LLC ("CVOF Manager"). CVOF Manager is the sole manager of Geronimo Central Valley Opportunity Fund, LLC ("Geronimo Fund").