The TSX Venture Exchange has accepted for filing documentation in connection with the acquisition of Thunderbird Entertainment Group Inc. by Blue Ant Media Corp., pursuant to the terms of an arrangement agreement dated Nov. 25, 2025, and a court-approved plan of arrangement under Division 5 of Part 9 of the Business Corporations Act (British Columbia).

Pursuant to the terms of the arrangement, the purchaser acquired all of the issued and outstanding common shares in the capital of Thunderbird for consideration consisting of, at the election of the holder: (i) $1.77 in cash; (ii) 0.2165 of a subordinate voting share of the purchaser; or (iii) a combination thereof, subject to proration based on a maximum aggregate cash consideration of $40-million. In addition and in accordance with the terms of the arrangement agreement:

• Holders of options to purchase common shares exchanged such options for replacement options to acquire subordinate voting shares of the purchaser, adjusted in accordance with the exchange ratio.
• Holders of restricted share units of Thunderbird retained such restricted share units, as adjusted by the arrangement, so that upon vesting of such restricted share units, the holders thereof are entitled to subordinate voting shares of the purchaser after giving effect to the exchange ratio.
• Holders of preferred shares of Thunderbird received a cash payment in connection with the retraction of such shares, up to an aggregate maximum of $450,000.

The exchange has been advised that requisite approval of the arrangement by shareholders of Thunderbird was received at a special meeting of shareholders held on Jan. 22, 2026. The Supreme Court of British Columbia granted its final order approving the arrangement on Jan. 26, 2026. The exchange has been advised that the arrangement closed on Jan. 28, 2026. The full particulars of the arrangement are set forth in Thunderbird's management information circular dated Dec. 11, 2025, which is available under Thunderbird's profile on SEDAR+.

Delisting

Further to the completion of the arrangement, effective at the close of business on Jan. 30, 2026, the common shares of Thunderbird will be delisted from the TSX Venture Exchange at the request of Thunderbird.