Brian Shure - May 8, 2021 Form 3 Insider Report for Lowell Farms Inc. (LOWLF)

Role
Chief Financial Officer, Director
Signature
/s/ Brian K. Shure
Stock symbol
LOWLF
Transactions as of
May 8, 2021
Transactions value $
$0
Form type
3
Date filed
5/10/2021, 03:53 PM
Next filing
Sep 1, 2021
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding LOWLF Subordinate Voting Shares 34.8K May 8, 2021 Direct
holding LOWLF Subordinate Voting Shares 182K May 8, 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 Options May 8, 2021 Subordinate Voting Shares 300K $1.35 Direct F2
holding LOWLF Restricted Stock Units May 8, 2021 Subordinate Voting Shares 75K Direct F3, F4
holding LOWLF Warrants (right to buy) May 8, 2021 Subordinate Voting Shares 91K $1.81 see footnote F1, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Ambrose Capital Holdings, LP is the record holder of the Subordinate Voting Shares and warrants. Mr. Shure is the President of Ambrose Capital Partners, LLC, which is the general partner of Ambrose Capital Holdings, LP. Mr. Shure disclaims beneficial ownership of the Subordinate Voting Shares and warrants held by Ambrose Capital Holdings, LP except to the extent of his pecuniary interest therein.
F2 50,000 of the options vested and became exercisable on November 9, 2020. The remaining options vest and become exercisable in four equal annual installments beginning on November 9, 2021.
F3 The restricted stock units vest in three equal annual installments beginning on January 1, 2022.
F4 Each restricted stock unit represents a contingent right to receive one Subordinate Voting Share on the applicable vesting date.
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.