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Thunderbird Entertainment Group Announces Updates From Strategic Review Process
Tuesday, October 3, 2023Company Profile | Follow Company
Vancouver, BC, October 3, 2023--(T-Net)--Thunderbird Entertainment Group Inc. (TSXV:TBRD), a full-service multiplatform production, distribution and rights management company, has announced an update from its strategic review process.
Pursuant to the Cooperation Agreement between Thunderbird and Voss Capital, LLC, which is detailed in the Company's January 19, 2023 news release, Thunderbird formed an advisory committee, composed of three directors (including two of the independent directors put forward by Voss) and a Voss-appointed non-voting observer (the "Strategic Advisory Committee"), to assess the Company's capital allocation strategy and evaluate all opportunities to maximize value creation for ultimate recommendation to the Board.
As disclosed in its May 15, 2023, news release, Thunderbird engaged ACF Investment Bank, among other things, to aid its ongoing strategic review process.
Findings from the Company's strategic review confirm Thunderbird is a premium asset within the industry with a solid reputation and trusted relationships that generate ongoing, repeat, and new content production opportunities.
With no debt and a healthy balance sheet, Thunderbird's mix of service and intellectual property ("IP") productions put the Company in a strong position, providing extensive opportunities in animation and unscripted genres, according to the company.
The Company's newly launched scripted group, alongside its established consumer products and distribution teams, further support the Company's continued growth.
To maximize shareholder value, the Company's key focus is on several exciting IP and service productions on the horizon. Thunderbird says it is committed to enhancing shareholder value and is looking at a variety of opportunities, including potentially initiating a share buyback program.
Thunderbird remains open to pursuing a liquidity event and the Company's Board and Management team remain dedicated to capitalizing on opportunities for all stakeholders.
"Pursuing a liquidity event at the right time is an important consideration to be true to everyone who is invested in Thunderbird. Our Company has excellent financial projections, several exciting projects to announce, and, at year end, was working on 10 owned IP productions. We are well positioned for growth and look forward to all opportunities presented to us," said Jennifer Twiner McCarron, Thunderbird CEO and Chair.
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 The Last Kids on Earth, Molly of Denali, Highway Thru Hell, Kim's Convenience, Reginald the Vampire and Boot Camp.
Thunderbird Distribution and Thunderbird Brands manage global media and consumer products rights, respectively, for the Company and select third parties. Thunderbird is on Facebook, Twitter, and Instagram at @tbirdent.
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