Thunderbird Entertainment Group Announces the Engagement of Market Maker Consultant

Rhea-AI Summary

Thunderbird Entertainment Group (TSXV:TBRD, OTCQX:THBRF) has engaged Independent Trading Group (ITG) to provide market making services in compliance with TSX Venture Exchange policies. The agreement includes a monthly fee of $6,000 for an initial three-month term, with the option for renewal. ITG will manage securities trading to maintain market order and enhance liquidity. The service costs will be covered by Thunderbird's general working capital, while ITG will provide the capital for market making activities. No shares or options will be issued as compensation.

Positive

• Engagement of market maker could improve stock liquidity

Negative

• Additional monthly expense of $6,000 for market making services

VANCOUVER, British Columbia--(BUSINESS WIRE)-- Thunderbird Entertainment Group Inc. (TSXV:TBRD) (OTCQX:THBRF) (Thunderbird or the Company), a global award-winning, full-service multiplatform production, distribution and rights management company, today announced that it has retained Independent Trading Group (“ITG”) to provide market making services in accordance with TSX Venture Exchange (“TSXV”) policies.

ITG will trade the securities of the Company on the TSXV for the purposes of maintaining an orderly market and contributing to market liquidity. In consideration of the services provided by ITG, the Company will pay ITG a monthly cash fee of $6,000. The agreement is for an initial term of three months and renewable thereafter. Costs related to the engagement of ITG will be paid from the general working capital of the Company. ITG will not receive shares or options as compensation. The capital used for market making will be provided by ITG.

ITG, which operates out of Toronto, Ontario, is a Dealer Member, as defined by the Canadian Investment Regulatory Organization. The Company and ITG are unrelated and unaffiliated entities, and, at the time of the agreement for ITG’s services, to the knowledge of the Company, neither ITG nor its principals have an interest, directly or indirectly, in the securities of the Company.

For information on Thunderbird and to subscribe to the Company’s investor list for news updates, go to www.thunderbird.tv.

ABOUT THUNDERBIRD ENTERTAINMENT GROUP
Thunderbird Entertainment Group is a global award-winning, full-service multiplatform production, distribution and rights management company, headquartered in Vancouver, with additional offices in Los Angeles and Ottawa. Thunderbird creates award-winning scripted, unscripted, and animated programming for the world’s leading digital platforms, as well as Canadian and international broadcasters. The Company develops, produces, and distributes animated, factual, and scripted content through its various content arms, including Thunderbird Kids and Family (Atomic Cartoons), Thunderbird Unscripted (Great Pacific Media) and Thunderbird Scripted. Productions under the Thunderbird umbrella include Mermicorno: Starfall, Super Team Canada, Molly of Denali, Highway Thru Hell, Kim’s Convenience, Boot Camp and Sidelined: The QB and Me. Thunderbird Distribution and Thunderbird Brands manage global media and consumer products rights, respectively, for the Company and select third parties. Thunderbird is on Facebook, X, and Instagram at @tbirdent. For more information, visit: www.thunderbird.tv.

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release, which has been prepared by management.

Cautionary Statement Regarding Forward-Looking Information

This news release includes “forward-looking statements” and “forward-looking information” as defined under applicable Canadian securities legislation. Forward-looking statements or information may be identified by words such as “anticipate”, “continue”, “estimate”, “expect”, “forecast”, “may”, “will”, “plan”, “project”, “should”, “believe”, “intend”, or similar expressions concerning matters that are not historical facts. Forward-looking statements in this document include, but are not limited to, statements with respect to: the impact of the market making services on the maintenance of an orderly market and contribution to market liquidity; the renewal of the agreement with ITG after the initial three months term.

Forward looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the risk that the market making services will not achieve the desire impact on the maintenance of an orderly market and contribution to market liquidity; that the agreement with ITG will not be renewed after the initial three months term. An assessment of these risks that could cause actual results to materially differ from current expectations is contained in the “Risks and Uncertainty” section of June 30, 2024 MD&A. The foregoing is not an exhaustive list. Additional risks and uncertainties not presently known to Thunderbird or that management believes to be less significant may also adversely affect the Company. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements or information contained in this document are reasonable, undue reliance should not be placed on these statements which represent our views as of the date hereof and as such information should not be relied upon as representing our views as of any date subsequent to the date of this document. The Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements or information.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241022037319/en/

For further information:

Investor Relations:

Glen Akselrod, Bristol Capital

Phone: + 1 905 326 1888 ext 1

Email: glen@bristolir.com

Media Relations:

Lana Castleman, Director, Marketing & Communications

Phone: 416-219-3769

Email: lcastleman@thunderbird.tv

Corporate Communications

Julia Smith, Finch Media

Email: Julia@finchmedia.net

Source: Thunderbird Entertainment Group Inc.

FAQ

What market making services did Thunderbird Entertainment (THBRF) engage?

Thunderbird Entertainment engaged Independent Trading Group (ITG) to provide market making services on the TSX Venture Exchange to maintain orderly market conditions and improve liquidity.

How much will Thunderbird Entertainment (THBRF) pay for ITG's market making services?

Thunderbird Entertainment will pay ITG a monthly cash fee of $6,000 for their market making services.

What is the duration of Thunderbird Entertainment's (THBRF) market making agreement with ITG?

The agreement has an initial term of three months and is renewable thereafter.