George Allen - 25 Jun 2021 Form 4 Insider Report for Lowell Farms Inc. (LOWLF)

Role
Director, 10%+ Owner
Signature
/s/ George Allen
Issuer symbol
LOWLF
Transactions as of
25 Jun 2021
Net transactions value
$0
Form type
4
Filing time
29 Jun 2021, 16:29:27 UTC
Previous filing
18 May 2021
Next filing
01 Sep 2021
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 Convertible 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 See Footnote F1, F2, F5
holding LOWLF Convertible Debenture of Indus Holding Company 3,804,303 25 Jun 2021 Subordinate Voting Shares 0 $0.2000 See Footnote F1, F2, F6
holding LOWLF Warrants (rights to buy) 133,500 25 Jun 2021 Subordinate Voting Shares 0 $1.81 Direct F7
holding LOWLF Warrants (rights to buy) 800,063 25 Jun 2021 Subordinate Voting Shares 0 $0.2800 See Footnote F5
holding LOWLF Warrants (rights to buy) 3,804,303 25 Jun 2021 Subordinate Voting Shares 0 $0.2800 See Footnote F6
* 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 Mr. Allen, Geronimo Capital or 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. Mr. Allen disclaims beneficial ownership of the convertible debenture and warrants held by Geronimo Fund except to the extent of his pecuniary interest therein.
F5 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.
F6 Geronimo Capital is the record holder of the convertible debenture and warrants.
F7 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 4 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"). This Form 4 reports a change in indirect interest of the reporting persons in securities held by the Geronimo Fund.