George Allen - 30 Sep 2022 Form 4 Insider Report for Lowell Farms Inc. (LOWLF)

Role
Director, 10%+ Owner
Signature
/s/ George Allen
Issuer symbol
LOWLF
Transactions as of
30 Sep 2022
Net transactions value
$0
Form type
4
Filing time
04 Oct 2022, 16:21:25 UTC
Previous filing
02 Sep 2022
Next filing
29 Dec 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 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 1,465,748 30 Sep 2022 Subordinate Voting Shares 1,465,748 $0.2000 See footnote F1, F2, F5
holding LOWLF Warrants (right to buy) 7,328,738 30 Sep 2022 Subordinate Voting Shares 7,328,738 $0.2800 See footnote F5
holding LOWLF Convertible Debenture of Indus Holding Company 160,013 30 Sep 2022 Subordinate Voting Shares 160,013 $0.2000 See footnote F1, F2, F6
holding LOWLF Warrants (right to buy) 800,063 30 Sep 2022 Subordinate Voting Shares 800,063 $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") 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 transfers 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. 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.
F5 Geronimo Capital is the record holder of the convertible debenture and warrants.
F6 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.

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.