Thunderbird announces raft of catalogue program sales across scripted, kids and family, and unscripted genres

The Company also reports an amendment of credit facilities

Thunderbird Distribution, a division of Thunderbird Entertainment Group (TSXV:TBRD, OTC – THBRF) (“Thunderbird” or the “Company”), is pleased to announce a raft of catalogue-title sales across scripted, kids and family, and unscripted genres.

Scripted

Fuse Media has taken season one (13 x 30’) of Thunderbird’s hit comedy Kim’s Convenience for its U.S. linear channel, while Encore Airlines has picked up season 5 (13 x 30’) of the series. And U.S.-based AVOD Fawesome has picked up seasons 1 and 2 (26 x 60’) and the MOW (1 x 90’) of critically acclaimed classic crime drama Intelligence.

Feature films Slow West, High-Rise, The Riot Club and That Sugar Film are now available on Tubi (Canada), while Pluto (Canada) has made High-Rise and Entanglement available. TVA (French Canada) has licensed 2016’s Up For Love (Un Homme à la Hauteur).

Kids and family

Netflix has renewed the U.S. license for mid-2010s Thunderbird YA comedy Some Assembly Required (57 x 30’). Canadian pubcasters TVO and Knowledge Network have picked up season 2 of Molly of Denali (23 x 30’, 1x 44’ special, 20 x 3’ shorts), produced by GBH and Atomic Cartoons. Knowledge is also now airing brand-new Atomic Cartoons animated preschool special Rocket Saves the Day (1 x 45’), and the PBS KIDS commission has been licensed by PCCW Media (Hong Kong) and UYoung/Ukids (China).

Unscripted

Ten 90-minute installments of celebrity-focused docuseries I Am…, including I Am Steve McQueen, I Am Chris Farley and I Am Heath Ledger, are now available on Tubi (Canada) and Roku (Canada). Roku (U.S., Canada, U.K.) is now streaming documentary film Chasing Evel: The Robbie Knievel Story (120’). Fuse Media has licensed pop-culture focused docuseries Celebrity Style Story, season 2 (40 x 30’) for its FAST channel, Backstage.

“As we continue to build out Thunderbird Distribution’s operations with third-party titles and our original series like Mermicorno: Starfall, we’re pleased to see a continued interest and demand for our catalogue titles from international linear, streaming, AVOD and FAST platforms,” said Richard Goldsmith, President of Global Distribution and Consumer Products.

Amendment of Credit Facilities

Thunderbird, through its subsidiaries Thunderbird Entertainment Inc. (“TEI”) and Atomic Cartoons Inc. (“Atomic”), has amended its credit agreement with Royal Bank of Canada (“RBC”) allowing the Company to borrow up to $63 million (the “Facilities”), comprised of a $5 million revolving term loan bearing interest at RBC’s prime rate plus 1.25% to bridge production financing; a $5 million revolving term loan bearing interest at RBC’s prime rate plus 1.25% to finance distribution advances to greenlit Canadian content eligible productions owned by TEI; an $8 million revolving unmargined operating line of credit bearing interest at RBC’s prime rate plus 1.25% to finance day to day operations and general corporate expenses; a $40 million revolving production operating line of credit bearing interest at RBC’s prime rate plus 0.5% to finance Canadian film or video production services tax credits; a $4.2 million revolving facility by way of leases to finance regular ongoing capital asset purchases; and a $750,000 foreign exchange line of credit available to Atomic to hedge against fluctuating exchange rates. The Facilities are repayable on demand and secured by general security agreements.

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. 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

Thunderbird’s public communications may include written or oral “forward-looking statements” and “forward-looking information” as defined under applicable Canadian securities legislation. All such statements may not be based on historical facts that relate to the Company’s current expectations and views of future events and are made pursuant to the “safe harbour” provisions of applicable securities laws.

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 plans to continue building out Thunderbird Distribution’s operations with third-party titles and original series; and borrowing under the Facilities.

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: general business, economic and social uncertainties; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; product capability and acceptance; international risk and currency exchange rates; and technology changes. 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, 2022 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.

The forward-looking statements or information contained in this document 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.

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