Lowell Farms Inc. Quarterly report pursuant to Section 13 or 15(d)

9. DEBT

3 Months Ended

Mar. 31, 2021

Debt at March 31, 2021 and December 31, 2020, was comprised of the following:

	March 31		December 31,
(in thousands)	2021		2020
Current portion of long-term debt
Vehicle loans⁽¹⁾	$	183	$	170
Note payable⁽³⁾		198		1,043
Total short-term debt		381		1,213

Long-term debt, net
Vehicle loans⁽¹⁾		189		233
Note payable⁽²⁾		56		65
Note payable⁽³⁾		40		5
Convertible debenture⁽⁴⁾		13,629		13,701
Total long-term debt		13,914		14,004
Total Indebtedness	$	14,295	$	15,217

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⁽¹⁾ Primarily fixed term loans on transportation vehicles. Weighted average interest rate at March 31, 2021 was 8.8%.

⁽²⁾ Note payable in connection with Acme acquisition to be paid as and if financial performance targets are met over the earnout period.

⁽³⁾ Note payable in connection with Humble Flower and Kaizen acquisitions and termination of the W Vapes acquisition.

Weighted average interest rate at March 31, 2021 was 4%.

⁽⁴⁾ Net of deferred financing costs of $2,096.

Stated maturities of debt obligations are as follows as of March 31, 2021: