36,000 Performance Warrants of The Planting Hope Company Inc. are subject to a Lock-Up Agreement Ending on 16-MAY-2024. These Performance Warrants will be under lockup for 913 days starting from 15-NOV-2021 to 16-MAY-2024.

Details:
As part of Voluntary Release Schedule, a total of 8,303,102 Subordinate Voting Shares and 382,372 Multiple Voting Shares are subject to contractual restrictions on transfer pursuant to voluntary pooling agreements entered into between the Company and the holders of these securities. No share will be released at the listing date, 10% of shares will be release on 6 months from listing date, 15% of shares will be released on 12 months, 18 months, 24 months and 30 months from listing date and remaining 30% will be released on 36 months from listing date.

As part of Prescribed Release Schedule, 10% of the escrowed securities, i.e., 68,287 Multiple Voting Shares, 171 Subordinate Voting Shares and 438,000 Performance Warrants will be released on the listing date and an additional 15% will be released on each of the dates which are 6, 12, 18, 24, 30 and 36 months respectively from listing date.

Principals of the Company who are not subject to the Escrow Agreement to enter into a Value Security Escrow Agreement with the Company and Endeavor Trust Corporation, as escrow agent. 240,000 Performance Warrants exercisable at a price of $0.25 per Subordinate Voting Share are subject to hold periods pursuant to the Value Security Agreement and will be released from escrow in accordance with the Prescribed Release Schedule.

8,502,000 Performance Warrants held by non-principals of the Company are subject to seed share resale restrictions, with 72,000 Performance Warrants exercisable at a price of $1.00 per Multiple Voting Share subject to a 36 month hold, with 10% released from Resale Restrictions on the Listing Date and an additional 15% released each 6 months thereafter, and 8,430,000 Performance Warrants exercisable at a price of $0.25 per Subordinate Voting Share subject to a 4 month hold, with 20% released from Resale Restrictions on the Listing Date and an additional 20% released each month thereafter.

Planting Hope Brands and each of their respective directors and senior officers have agreed that they will not, directly or indirectly, offer, issue, sell, grant, secure, pledge or otherwise transfer, dispose of or monetize, or engage in any hedging transaction, or enter into any form of agreement or arrangement the consequences of which is to alter economic exposure to, or announce any intention to do so, in any manner whatsoever, any Subordinate Voting or Multiple Voting Shares, or any securities convertible into, exchangeable for, or otherwise exercisable to acquire Subordinate Voting Shares or Multiple Voting Shares, for a period of 180 days from the Closing Date, without the prior written consent of the Agent.