Kevin McGrath - Dec 31, 2021 Form 4 Insider Report for Lowell Farms Inc. (LOWLF)

Role: Director
Signature: /s/ Kevin McGrath
Stock symbol: LOWLF
Transactions as of: Dec 31, 2021
Transactions value $: $0
Form type: 4
Date filed: 1/4/2022, 08:34 PM
Previous filing: May 11, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LOWLF	Subordinate Voting Shares	Options Exercise	$0	+75K	+10.9%	$0.00	763K	Dec 31, 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
transaction	LOWLF	Restricted Stock Units	Options Exercise	$0	-75K	-100%	$0.00^*	0	Dec 31, 2021	Subordinate Voting Shares	75K		Direct	F1, F2
holding	LOWLF	Convertible Debenture of Indus Holdings Company						5.02M	Dec 31, 2021	Subordinate Voting Shares	5.02M	$0.20	Direct	F3, F4
holding	LOWLF	Warrants (right to buy)						5.02M	Dec 31, 2021	Subordinate Voting Shares	5.02M	$0.28	Direct
holding	LOWLF	Warrants (right to buy)						135K	Dec 31, 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	Each Restricted Stock Unit ("RSU") represents a contingent right to receive one Subordinate Voting Share on the vesting date.
F2	The RSUs vested on December 31, 2021.
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.