Benjamin Nickoll - Aug 30, 2021 Form 3 Insider Report for Lowell Farms Inc. (LOWLF)

Role
10%+ Owner
Signature
/s/ Benjamin Nickoll
Stock symbol
LOWLF
Transactions as of
Aug 30, 2021
Transactions value $
$0
Form type
3
Date filed
12/7/2022, 12:08 PM

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding LOWLF Subordinate Voting Shares 600K Aug 30, 2021 See Footnote F1

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
holding LOWLF Warrants (rights to buy) Aug 30, 2021 Subordinate Voting Shares 300K $1.40 See Footnote F2, F3, F4
holding LOWLF 2022 Convertible Debenture of Indus Holding Company Aug 30, 2021 Subordinate Voting Shares 2.62M $0.23 See Footnote F2, F3, F5
holding LOWLF Warrants (rights to buy) Aug 30, 2021 Subordinate Voting Shares 2.62M $0.26 See Footnote F2, F3, F6
holding LOWLF 2020 Convertible Debenture of Indus Holding Company Aug 30, 2021 Subordinate Voting Shares 6.23M $0.20 See Footnote F2, F3, F7
holding LOWLF Warrants (rights to buy) Aug 30, 2021 Subordinate Voting Shares 6.23M $0.28 See Footnote F2, F3, F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Subordinate Voting Shares hold shared voting and dispositive power with John F. Nickoll Marital Trust owning 200,000 shares, Kestrel Foundation owning 200,000 shares, and Christine Armstrong owning 200,000 shares.
F2 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.
F3 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.
F4 The $18,000,000 Offering Warrants hold shared voting and dispositive power with John F. Nickoll Marital Trust owning 100,000 shares, Kestrel Foundation owning 100,000 shares, and Christine Armstrong owning 100,000 shares.
F5 The Shares underlying the 2022 Convertible Debentures hold shared voting and dispositive power with John F. Nickoll Marital Trust owning 1,513,186 shares, Kestrel Foundation owning 648,508 shares, and Benjamin Nickoll Trust UWO Ann Nickoll owning 461,894 shares.
F6 The Warrants underlying the 2022 Convertible Debentures hold shared voting and dispositive power with John F. Nickoll Marital Trust owning 1,513,186 shares, Kestrel Foundation owning 648,508 shares, and Benjamin Nickoll Trust UWO Ann Nickoll owning 461,894 shares.
F7 The Shares underlying the 2020 Convertible Debentures hold shared voting and dispositive power with John F. Nickoll Marital Trust owning 3,524,435 shares, Kestrel Foundation owning 1,997,180 shares, and Benjamin Nickoll Trust UWO Ann Nickoll owning 704,890 shares.
F8 The Warrants underlying the 2020 Convertible Debentures hold shared voting and dispositive power with John F. Nickoll Marital Trust owning 3,524,435 shares, Kestrel Foundation owning 1,997,180 shares, and Benjamin Nickoll Trust UWO Ann Nickoll owning 704,890 shares.