The Greenrose Holding Company Inc. announced a private placement of a secured promissory note in the principal amount of $15,300,000 on October 13, 2022. The note will mature in two years after the completion of the transaction. The unpaid principal amount of the Promissory Note shall accrue interest daily on the basis of a 360 day year at the LIBO Rate plus 16% per annum, provided that upon the occurrence and during the continuance of an Event of Default, the outstanding principal amount of this Note and any accrued and unpaid interest and all other overdue amounts shall each bear interest until paid at the stated rate plus 2% per annum.

Interest shall be due and payable in arrears on each Interest Payment Date. After the Maturity Date, interest will continue to accrue on any unpaid principal and shall be due and payable on demand. The LIBO Rate shall not at any time be less than 1% per annum.

The Company may at any time and from time to time prepay any principal amount on the Promissory Note in whole or in part without premium or penalty