THUNDERBIRD ENTRTNMT GRP - THBRF STOCK NEWS

Thunderbird Entertainment Group has celebrated its unscripted division, Great Pacific Media (GPM), being named to Realscreen’s Global 200 list for the 11th consecutive year. This recognition reflects GPM's excellence in non-fiction content, determined by industry inputs from broadcast and streaming executives. In 2022, GPM launched six new projects, amounting to 126 hours of programming, and its shows aired in over 170 countries. Key productions included the successful series Deadman’s Curse and Highway Thru Hell, highlighting the company's commitment to storytelling across diverse genres. GPM continues to focus on creating exceptional content, further expanding its global reach.

Thunderbird Entertainment Group has appointed Hillary Zwick Turner as the new SVP, Scripted Content, signaling a strategic expansion into live-action scripted content globally. Turner, a former executive at Netflix, where she oversaw productions like Cobra Kai and Mighty Morphin Power Rangers: Once & Always, will report to Matthew Berkowitz.

The company aims to leverage Turner's expertise to identify top creators and develop premium content in the YA and family live-action genres. Thunderbird is currently actively producing Reginald the Vampire, Kim's Convenience spin-off Strays, and the film adaptation of Boot Camp.

This appointment aligns with Thunderbird's goal to enhance its scripted content portfolio alongside its animation and unscripted divisions, marking a pivotal moment in the company's growth strategy.

Thunderbird Entertainment Group (OTCQX: THBRF) has appointed Lisa Coulman as an independent member of its Board of Directors, effective immediately. With extensive experience in technology, entertainment, and retail, Ms. Coulman currently serves as CFO at Nobul Technologies, which has raised over $40 million in private capital. Her appointment is expected to enhance Thunderbird's financial and operational capabilities. Ms. Coulman will also chair the audit committee, and her addition brings greater gender diversity to the board, which is now 57% female. Thunderbirds granted her 40,000 stock options at $3.54 per share.

On March 6, 2023, at its annual general and special meeting, Thunderbird Entertainment Group (TSXV:TBRD, OTCQX:THBRF) announced that shareholders approved all proposed resolutions. Key voting results included the election of directors with high approval percentages: Jennifer Twiner McCarron (98.17%), Asha Daniere (99.48%), and others. The board size was fixed at six members, and both the Stock Option Plan and Equity Compensation Plan received reapproval with over 99% votes in favor. Additionally, PricewaterhouseCoopers LLP was appointed as auditor. The company granted options for 80,000 common shares at an exercise price of $3.40 per share.

Thunderbird Entertainment Group reported a significant Q2 2023 revenue increase of $15 million (45%) to $48 million compared to the previous year. Revenue for six months rose $23.7 million (35%) to $91.7 million.

However, free cash flow decreased by 52% to $7.8 million, and Adjusted EBITDA fell 14% to $4.3 million. The company faced delays in production, shifting expected income to future fiscal years. Despite this, Thunderbird remains optimistic about long-term growth, driven by ongoing investments and a robust pipeline of upcoming productions.