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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1604868	Growgeneration Corp.	GRWG	Retail-Building Materials, Hardware, Garden Supply (5200)	465008129

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1765017	Sean Stiefel	28 Reichert Circle Westport CT 06880		Yes	No	No	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2021-04-15	166,667	$0.35	394,213	No	4	X	Indirect	See Footnotes
Common Stock	Acquisiton	2021-04-15	112,903	$3.50	507,116	No	4	X	Indirect	See Footnotes
Common Stock	Disposition	2021-04-15	8,305	$47.58	498,811	No	4	S	Indirect	See Footnotes
Common Stock	Acquisiton	2021-04-15	0	$0.00	111,252	No	4	J	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	X	Indirect	See Footnotes
No	4	X	Indirect	See Footnotes
No	4	S	Indirect	See Footnotes
No	4	J	Direct

Reported Derivative Transactions

Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Warrant	Disposition	2021-04-15	166,667	$0.00	166,667	$0.35
Common Stock	Warrant	Disposition	2021-04-15	112,903	$0.00	112,903	$3.50

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0	2018-05-09	2021-05-09	No	4	X	Indirect
0	2019-06-04	2022-06-04	No	4	X	Indirect

Footnotes

Sean Stiefel (the "Reporting Person") is a manager and Chief Executive Officer of Navy Capital Green Management, LLC ("NCG") and a manager of Navy Capital Green Management Partners, LLC ("NCGMP"). NCGMP is the general partner of Navy Capital Green Fund, LP (the "Fund"). NCG is the investment manager of the Fund. This Form 4 is being filed by the Reporting Person as a result of (i) cash exercise by the Fund of warrants to purchase shares of Common Stock, and (ii) cashless exercise by the Fund of warrants to purchase shares of Common Stock. The amount of 498,811 in Table I reflects the aggregate amount of Common Stock held by the Fund directly after giving effect to the exercise of the warrants requiring the filing of this statement.
On April 15, 2021, the Fund exercised a warrant to purchase 112,903 shares of Issuer's common stock for $3.50 a share. The Fund paid the exercise price on a cashless basis, resulting in the Issuer's withholding of 8,305 of the warrant shares to pay the exercise price and issuing to the Fund the remaining 104,598 shares.
Following the warrant exercises by the Fund of warrants owned to purchase shares of Common Stock of the Issuer, the Reporting Person indirectly owns a total of 498,811 shares of Common Stock held by the Fund, and directly owns 111,252 shares of Common Stock.