THUNDERBIRD ENTRTNMT GRP - THBRF STOCK NEWS

Thunderbird Entertainment Group (TSXV: TBRD, OTCQX: THBRF) will hold its annual general and special meeting of shareholders on March 6, 2023 in Vancouver. The date complies with British Columbia regulations. A management information circular detailing assertions by Voss Capital LLC will be filed and mailed to shareholders, who need not take any action in the meantime. The Circular will be available at www.sedar.com.

Thunderbird Entertainment Group (TSXV: TBRD, OTCQX: THBRF) addressed a proxy fight initiated by Texas-based Voss Capital, emphasizing its commitment to shareholder value and avoiding a costly dispute. The company highlighted a 25% revenue increase in Q1 and 83% growth from fiscal 2020 to 2022, alongside a 30% rise in adjusted EBITDA. Thunderbird remains profitable and cash flow positive, countering Voss's claims of inadequate value creation. Additionally, it noted the challenging equity market and potential obstacles in engaging foreign bidders due to Canadian cultural approval requirements.

Thunderbird Entertainment Group Inc. (TSXV: TBRD, OTCQX: THBRF) will host a webcast investor presentation on December 14, 2022, at 2:00 p.m. EST. CEO Jennifer Twiner McCarron and CFO Barb Harwood will present the company's key business areas, followed by a Q&A session. Investors can register for the event in advance or access it via telephone. A replay will be available on the company’s website for those unable to attend live. Thunderbird is known for producing award-winning content across multiple platforms, including series like The Last Kids on Earth and Molly of Denali.

Thunderbird Entertainment Group will present at the Planet MicroCap Showcase: VIRTUAL 2022 on December 7, 2022, at 12 p.m. EST/9 a.m. PST. CEO Jennifer Twiner McCarron will host the session and answer questions afterward. Attendees can access the live presentation via the provided webcast link. Interested investors can book one-on-one meetings and register for the event. Thunderbird, headquartered in Vancouver, specializes in creating award-winning programming across various platforms.

Thunderbird Entertainment Group has granted 121,000 Restricted Share Units (RSUs) to its employees as part of its equity incentive compensation plan. The RSUs will vest in three equal installments, rewarding employees for their contributions and encouraging future performance. The settlement of each RSU will be in cash upon vesting. This initiative aligns with the company's goal of fostering employee engagement and success. Thunderbird is well-known for producing award-winning programming across platforms.

Thunderbird Entertainment Group (OTCQX: THBRF) has responded to false statements made by Voss Capital, which initiated a proxy fight to replace the entire board. The company has deferred its annual meeting to assess Voss's nominees thoroughly. Thunderbird reported a 34% revenue growth for fiscal 2022 and an 83% increase since 2020, with no debt and an EBITDA rise of 30%. Despite Voss’s claims, Thunderbird believes its strategy is delivering long-term value and that Voss lacks a concrete plan to unlock shareholder value.

Thunderbird Entertainment Group Inc. (OTCQX: THBRF) reported a revenue increase of 25% to $43.7 million for Q1 2023 compared to last year. Free cash flow grew 29% to $4.4 million. Adjusted EBITDA decreased 35% to $4.1 million, attributed to project delivery mix and scheduling. The company has 28 programs in production, a slight increase from 27 last year. Notable projects include productions for Netflix and PBS. A shareholder has also announced intentions to nominate new directors, leading to a postponement of the Annual General Meeting.

Thunderbird Entertainment Group (TSXV: TBRD, OTCQX: THBRF) has responded to Voss Capital's misleading claim regarding the support of Frank Giustra, a board member and major shareholder. Thunderbird confirms Giustra’s intention to stand for re-election at the upcoming Annual General Meeting and to vote his 12.8% shareholding in favor of the Company's director nominees. Giustra refuted Voss's assertion, stating he does not support Voss's claims. Thunderbird urges Voss to retract its untrue statements publicly.

Thunderbird Entertainment Group (TSXV: TBRD, OTCQX: THBRF) announced the postponement of its Annual General Meeting (AGM) originally set for December 6, 2022. The new AGM date is expected to be no later than March 6, 2023, as the company seeks to review a shareholder's announcement made on November 4, 2022, regarding a nomination of new directors by Voss Capital LLC. Shareholders are advised that no action is required from them at this time.