Geronimo CVOF Manager LLC - 25 Jun 2021 Form 4 Insider Report for Lowell Farms Inc. (LOWLF)

Role
10%+ Owner
Signature
/s/ George Allen, as Sole Manager of Geronimo CVOF Manager, LLC
Issuer symbol
LOWLF
Transactions as of
25 Jun 2021
Net transactions value
$0
Form type
4
Filing time
29 Jun 2021, 15:34:17 UTC
Previous filing
10 May 2021
Next filing
12 Apr 2022
SEC
View on sec.gov

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
transaction LOWLF Covertible Debenture of Indus Holding Company Other -37,233 -0.35% 10,470,254 25 Jun 2021 Subordinate Voting Shares 186,165 $0.2000 See Footnote F1, F2, F3, F4
transaction LOWLF Warrants (rights to buy) Other -186,165 -0.35% 52,351,273 25 Jun 2021 Subordinate Voting Shares 186,165 $0.2800 See Footnote F3, F4
holding LOWLF Convertible Debenture of Indus Holding Company 800,063 25 Jun 2021 Subordinate Voting Shares 0 $0.2000 Direct F1, F2
holding LOWLF Warrants (rights to buy) 800,063 25 Jun 2021 Subordinate Voting Shares 0 $0.2800 Direct
* 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. Accrued interest is not included in the underlying share numbers.
F3 The transfer constituted a partial redemption of a membership interest in Geronimo Fund to a member unrelated to CVOF Manager. The value of the consideration for the transferred derivative securities is deemed to be the value of the redeemed portion of such membership interest.
F4 Geronimo Fund is the record holder of the convertible debenture and warrants. CVOF Manager disclaims beneficial ownership of the convertible debenture and warrants held by Geronimo Fund except to the extent of its pecuniary interest therein.

Remarks:

This Form 4 is filed on behalf of Geronimo CVOF Manager, LLC ("CVOF Manager") and Geronimo Central Valley Opportunity Fund, LLC ("Geronimo Fund"). CVOF Manager is the sole manager of Geronimo Fund.