Thunderbird Entertainment Group Inc. (TSXV: TBRD, OTCQX: THBRF) (“Thunderbird” or “the Company”) today set the record straight regarding an untrue assertion by Voss Capital, LLC (“Voss”) in its information circular filed on November 9, 2022.

Thunderbird calls on Voss to publicly retract its false and misleading claim, which is that Voss has the support of Frank Giustra, a member of the Thunderbird Board of Directors and one of the Company’s largest shareholders.

Thunderbird confirms that Mr. Giustra intends to stand for re-election as part of the Company’s slate at the next Annual General Meeting of shareholders. Further, Mr. Giustra intends to vote the shares that he controls, amounting to 6,320,963 shares or 12.8% of the issued and outstanding shares, for Thunderbird’s director nominees.

“I support Thunderbird’s strategy and, contrary to Voss’s claim, I do not intend to vote against myself and my fellow directors,” said Mr. Giustra. “Even though Voss never contacted me, it is wrongly asserting that it has my endorsement. It does not.”

Mr. Giustra brings deep industry experience to his work guiding and supporting the Company’s strategic direction. Given the significance of Voss’s inaccurate claim, Thunderbird urges it to publicly correct it immediately.

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, Toronto, 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. Thunderbird’s vision is to produce high quality, socially responsible content that makes the world a better place. 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), formerly known as Thunderbird Factual, and Thunderbird Scripted. Productions under the Thunderbird umbrella include The Last Kids on Earth, Molly of Denali, Highway Thru Hell and Kim’s Convenience, among others. The Company also has a team dedicated to global distribution and consumer products. 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

This news release includes certain “forward-looking statements” under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to the intention of Mr. Giustra to stand for re-election as part of the Company’s slate at the next Annual General Meeting of shareholders; the intention of Mr. Giustra to vote the Thunderbird shares that he controls for Thunderbird’s director nominees; the Company’s objectives, goals or future plans; and the business and operations of the Company. 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; and those additional risks set out in the Company’s management’s discussion and analysis for the years ended June 30, 2022 and 2021 and other public documents filed on SEDAR at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

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