Global award-winning, full-service multiplatform production, distribution and rights management company remains fully operational
New personnel hired in April to meet increased demand for animation and factual content
Bristol Capital engaged to increase institutional and professional investor awareness
VANCOUVER, May 11, 2020 /CNW/ - Thunderbird Entertainment Group Inc. (TSXV:TBRD, OTC:THBRF) (Thunderbird or the Company), a global award-winning, full-service multiplatform production, distribution and rights management company, today provided a business and production update in response to the ongoing COVID-19 pandemic.
Thunderbird remains fully operational, with the Company's entire team of more than 1,000 crew members across all divisions having been set up to work remotely since March 30, 2020. Engineering work to move teams offsite started in February, and was rolled out in March, with optimization taking place in early April. This foresight and quick action allowed the Company to continue delivering premium content, with all productions in development moving forward. Thunderbird's ability to remain fully operational has also allowed it to respond to increased demand for content as major broadcasters and streamers are looking to fill slots and replace other productions where filming has been halted due to the pandemic. New Thunderbird team members have been hired to help meet this demand. The Company continues to pitch, develop, produce, sell, deliver and service content to its partners including Netflix, NBCUniversal, Nickelodeon, PBS, WGBH, Bell Media's Discovery, APTN, Corus Entertainment, the Weather Channel, and the CBC, among others.
"While the pandemic has created unprecedented situations, I am proud and humbled by the nimbleness and resilience of the Thunderbird team; how we safeguarded our business, kept people working and doubled down on producing meaningful content that can bring a touch of joy when people need it most," stated Mark Miller, President of Thunderbird. "Viewers around the world are hungry for top-quality content as they spend more time at home, and it has been been inspiring to be a part of an industry working together to keep people entertained. Health and safety have always been our top priority, and Thunderbird's artists continue to set the benchmark by finding new ways to keep working and remain connected."
Work on all of the factual productions in development, which includes three series and one standalone documentary, is continuing without interruption, and all schedules remain intact. By implementing innovative and new filming techniques, field crews have been able to continue their work safely.
Kids and Family Division
All productions in development are moving forward, and the Company is working closely with all partners to successfully minimize workflow interruptions. Feedback from the kids and family team signals that many team members are enjoying the new work-from-home set-up, which includes a strong mental health and well-being component that was rolled out in tandem. The Company is exploring future working structures that are flexible, nimble, prioritize health, and allow for people to work in the environments where they thrive.
Thunderbird's award-winning scripted comedy series Kim's Convenience was renewed for seasons five and six, which are scheduled for 2021 and 2022 respectively. The teams are currently developing scripts in a virtual writers' room. Thunderbird has a dozen additional scripted projects in development.
Thunderbird's distribution team has experienced a dramatic increase in demand for the Company's content as streamers and networks look to fill their schedules. Thunderbird's library is comprised of popular titles across multiple genres, including Continuum, Mr. Young, Highway Thru Hell, and Beat Bugs.
Investor Relations Services Agreement
Thunderbird has also entered into an investor relations services agreement (the "IR Agreement") with Bristol Capital Ltd. ("Bristol"), a leading investor relations and capital markets advisory firm based in Toronto, Ontario and owned by its principals. Under the IR Agreement, Bristol will provide investor relations services with the general objective of expanding awareness of the Company amongst thousands of key buy- and sell-side investor professionals who are based throughout the United States, Canada and Europe. The initial term of the IR Agreement is for one year commencing immediately. The agreement may be extended or terminated by either party under certain circumstances. Under the agreement, compensation ranges between $7,000 and $10,000 per month, depending on the scope of services provided by Bristol to Thunderbird. Two shareholders of Thunderbird have granted Bristol options to acquire in aggregate of 140,000 common shares of Thunderbird. The options will have an exercise price of $2.00 per common share, with an expiry date of 30 months from the date of option grant. The underlying common shares will vest at 35,000 shares per quarter over the course of the first calendar year, with all common shares vesting after one year.
"With many of our biggest customers and partners hitting record subscriber numbers, and our Company expected to come out of this crisis stronger than ever, we feel it is a great time to focus our attention on increasing awareness of Thunderbird and sharing our story with a broader investor community," stated Brian Paes-Braga, Chairman of Thunderbird. "Bristol is a perfect fit with their broad network, experience, virtual road show capabilities, and well-established track record of supporting micro and small cap companies in Canada to increase their domestic and international investor exposure."
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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 divisions, including Thunderbird kids and family (Atomic Cartoons), Thunderbird factual (Great Pacific Media) and Thunderbird productions. 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 of the adequacy or accuracy of this release, which has been prepared by management.
SOURCE Thunderbird Entertainment Group Inc.
For further information: Investor Relations Contacts: Glen Akselrod, Bristol Capital, Phone: + 1 905 326 1888 ext 1, Email: [email protected]; Media Relations Contact: Julia Smith, Finch Media, Phone: +1 604 803 0897, Email: [email protected]