SALINAS, Calif., January 12, 2023 — Lowell Farms Inc. (“Lowell Farms” or the “Company”) (CSE:LOWL; OTCQX:LOWLF), a California-born innovator in cannabis cultivation and maker of the legendary brand Lowell Smokes, announced today it has retained Canaccord Genuity Corp. to assist in its ongoing review of strategic alternatives. The Board of Directors has formed a strategic alternatives special committee (the “Special Committee”) of independent directors to explore, review and evaluate strategic alternatives that may be available to the Company to maximize shareholder value. The Special Committee is chaired by Ann Lawrence and also includes Summer Frein.
The Special Committee will evaluate a full range of strategic and financial alternatives, including, but not limited to, one or more of the following: sale, divestiture, acquisition or merger that may involve all or part of our business or assets, restructuring, recapitalization or any other strategic transaction that may be identified during our strategic review.
Other than as described in this news release, the Company has not made any decisions related to strategic alternatives at this time. The Company cautions that there are no assurances that the evaluation of strategic alternatives will result in the approval or completion of any specific transaction or outcome. The Company does not intend to comment further unless and until the Board of Directors approves a specific transaction, concludes its review of strategic alternatives or determines that further disclosure is appropriate or required.
ABOUT LOWELL FARMS INC.
Lowell Farms Inc. (CSE:LOWL; OTCQX:LOWLF) (the “Company”) is a California-based cannabis company with advanced production capabilities supporting every step of the supply chain, including cultivation, extraction, manufacturing, brand sales, marketing, and distribution. Lowell Farms grows artisan craft cannabis with a deep love and respect for the plant, and prides itself on using sustainable materials – from seed to sale – to produce an extensive portfolio of award-winning originals, including Lowell Herb Co, House Weed, MOON, and Kaizen, for licensed retailers statewide.