Thunderbird Entertainment

Canaccord Genuity Acts as Exclusive Financial Advisor to Thunderbird Entertainment on its C$97 Million Sale to Blue Ant Media

Canaccord Genuity is pleased to announce that on November 26, 2025, Thunderbird Entertainment Group Inc. (TSXV: TBRD) (the “Company” or “Thunderbird”) announced that it has entered into a definitive agreement (the “Agreement”) to be acquired by Blue Ant Media Corporation (TSX: BAMI) (“Blue Ant”), an international streamer, production studio and rights-management business, for a total Transaction Value of approximately C$97 million (the “Transaction”).

Under the terms of the Agreement, Thunderbird shareholders will receive C$1.77 (the “Consideration”) for each Thunderbird common share held (the “Common Shares”), based on the closing price of Blue Ant subordinate voting shares (“Blue Ant SVS”) on November 25, 2025. The Consideration represents a 50% premium to Thunderbird’s closing Common Share price and a 62% premium to the 20-day VWAP on November 25, 2025. Thunderbird shareholders will be able to elect to receive, for each Common Share held, (i) 0.2165 of a Blue Ant SVS, (ii) $1.77 in cash, or (iii) a combination thereof, subject to proration based on a maximum cash consideration of $40 million. Upon completion of the Transaction, assuming full cash proration, existing Blue Ant and Thunderbird Shareholders are expected to own approximately 79% and 21% of the pro forma company, respectively.

Thunderbird is a global, award-winning, full-service production, distribution, and rights-management company headquartered in Vancouver. The company creates scripted, unscripted, and animated programming for leading digital platforms and major Canadian and international broadcasters. Its content is developed, produced, and distributed through Thunderbird Kids & Family (Atomic Cartoons), Thunderbird Unscripted (Great Pacific Media), and Thunderbird Scripted. Notable productions 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 oversee global media and consumer-products rights for both company-owned and select third-party properties.

Blue Ant is an international streamer, production studio and rights-management business. The company operates a diverse portfolio of free streaming and pay TV channels internationally, including Love Nature, Cottage Life, Smithsonian Channel Canada, BBC Earth Canada, HauntTV, Homeful, and Love Pets, as well as the subscription streaming service MagellanTV. Its studio business produces and distributes a wide range of premium content across key genres for streaming and broadcast platforms worldwide. Blue Ant Media is headquartered in Toronto, with a presence in Los Angeles, New York, Miami, Singapore, London, Washington, Sydney, Halifax, and Ottawa.