Geronimo CVOF Manager LLC - 30 Sep 2022 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
30 Sep 2022
Net transactions value
$0
Form type
4
Filing time
04 Oct 2022, 16:14:22 UTC
Previous filing
12 Apr 2022
Next filing
26 Oct 2023
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 -4,143,296 -91% 393,135 30 Sep 2022 Subordinate Voting Shares 20,716,480 $0.2000 See footnote F1, F2, F3, F4
transaction LOWLF Warrants (right to buy) Other -20,716,480 -91% 1,965,675 30 Sep 2022 Subordinate Voting Shares 20,716,480 $0.2800 See footnote F3, F4
holding LOWLF Convertible Debenture of Indus Holding Company 160,013 30 Sep 2022 Subordinate Voting Shares 160,013 $0.2000 Direct F1, F2
holding LOWLF Warrants (right to buy) 800,063 30 Sep 2022 Subordinate Voting Shares 800,063 $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") at $0.20 per share. 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 the redemption of membership interests in Geronimo Fund. The value of the consideration for the transferred derivative securities is deemed to be the value of such redeemed membership interests.
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.