Thunderbird Shareholders Approve Acquisition by Blue Ant Media

TORONTO, Jan. 22, 2026 /CNW/ - Blue Ant Media Corporation ("Blue Ant") (TSX: BAMI), an international streamer, production studio and rights business, announces its proposed acquisition of Thunderbird Entertainment Group Inc. ("Thunderbird") (TSXV: TBRD) (OTCQX: THBRF) is one step closer to completion with Thunderbird Shareholders (as defined below) overwhelmingly voting in favour of the transaction.

At Thunderbird's special meeting of holders (the "Thunderbird Shareholders") of common shares (the "Thunderbird Shares") of Thunderbird held on January 22, 2026 (the "Meeting"), the Thunderbird Shareholders approved the special resolution (the "Arrangement Resolution") approving the plan of arrangement under the Business Corporations Act (British Columbia), involving, among other things, the acquisition by Blue Ant of all of the issued and outstanding Thunderbird Shares (the "Arrangement"). The Arrangement Resolution required approval of at least two-thirds (66²/₃%) of the votes cast by Thunderbird Shareholders at the Meeting and 78.84% of the votes cast by Thunderbird Shareholders at the Meeting were in favour of the Arrangement Resolution.

"We are very pleased with the results from Thunderbird's shareholder meeting, with their shareholders voting overwhelmingly in favour of the transaction," said Michael MacMillan, CEO of Blue Ant. "Combining our businesses will add scale, create meaningful cost synergies, strengthen our earnings and cash-flow profile, and enhance our presence in the capital markets. We are extremely excited about the path ahead and expect to close the acquisition in the coming weeks."

Thunderbird will apply for a final order approving the Arrangement from the Supreme Court of British Columbia on January 26, 2026. Assuming all other terms and conditions, including applicable stock exchange and regulatory approvals, to the Arrangement are satisfied, it is expected that the Arrangement will be completed in the coming weeks.

About Blue Ant Media Corporation

Blue Ant is an international streamer, production studio and rights-management business. Blue Ant 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 is headquartered in Toronto, with a presence in Los Angeles, New York, Miami, Singapore, London, Washington, Sydney, Halifax, and Ottawa. blueantmedia.com⼁Instagram⼁LinkedIn

Forward Looking Statements

This news release contains "forward-looking information" within the meaning of applicable securities laws in Canada. In some cases, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "targets", "expects" or "does not expect", "is expected", "budget", "estimates", "outlook", "forecasts", "prospects", "strategy", "intends", "anticipates", "does not anticipate", "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", "will", "will be taken", "occur" or "be achieved". Statements containing forward-looking information are not historical facts but instead represent management's expectations, estimates and projections regarding possible future events or circumstances, and are therefore subject to a variety of risks and uncertainties that could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. Forward-looking information in this news release includes, among other things, the anticipated timing for the completion of the Arrangement. Although Blue Ant believes that the expectations reflected in such forward-looking information and statements are reasonable, such information and statements involve risks and uncertainties, and undue reliance should not be placed on such information and statements. Material factors or assumptions that were applied in formulating the forward-looking information contained herein include, without limitation, the expectations and beliefs of Blue Ant, and its management and board of directors, as of the date hereof, the Arrangement will be completed on terms and timing currently contemplated, all conditions to the completion of the Arrangement will be satisfied or waived and the arrangement agreement (the "Arrangement Agreement") will not be terminated prior to the completion of the Arrangement, and the timely and effective integration of the businesses. Blue Ant cautions that the foregoing list of material factors and assumptions is not exhaustive. Many of these assumptions are based on factors and events that are not within the control of Blue Ant, and there is no assurance that they will prove correct. Forward‐looking statements also involve significant known and unknown risks and uncertainties. Many factors could cause actual results, performance or achievement to be materially different from any future forward‐looking statements. Factors that may cause such differences include, but are not limited to, changes to general economic, market and business conditions; the ability of Blue Ant to complete the Arrangement; and that the completion of the Arrangement is subject to the satisfaction or waiver of a number of conditions as set forth in the Arrangement Agreement. There can be no assurance as to when these conditions will be satisfied or waived, if at all, or that other events will not intervene to delay or result in the failure to complete the Arrangement. There is a risk that some or all the expected benefits of the Arrangement may fail to materialize or may not occur within the time periods anticipated by Blue Ant. Material risks that could cause actual results to differ from forward‐looking statements also include the inherent uncertainty associated with the financial and other projections; the prompt and effective integration of the combined company; the ability to achieve the anticipated synergies, economies of scale and value‐creation contemplated by the Arrangement; he risk that the conditions to the Arrangement are not satisfied on a timely basis or at all; the risk that approvals, consents or authorizations that may be required for the Arrangement is not obtained or is conditioned or delayed; the outcome of any legal proceedings that may be instituted against the parties and others related to the Arrangement; unanticipated difficulties or expenditures relating to the Arrangement; the response of business partners and retention as a result of the announcement and pendency of the Arrangement; and the diversion of management time on transaction‐related issues. Consequently, there can be no assurance that the actual results or developments anticipated by Blue Ant (including the Arrangement and impact or benefits related thereto) will be realized or, even if substantially realized, that they will have the expected consequences for, or effects on, Blue Ant, Thunderbird, their respective shareholders, or the future results and performance of Blue Ant and Thunderbird. For additional information with respect to these and other factors and assumptions underlying the forward-looking statements made in this news release, see Blue Ant's Q4 and year ended F2025 August 31, 2025 financial statements and related MD&A and the Annual Information Form dated November 26, 2025, which are available on SEDAR+ (www.sedarplus.ca) under the Blue Ant's issuer profile. Readers, therefore, should not place undue reliance on any such forward-looking statements. The forward-looking information and statements in this news release are based on beliefs and opinions of Blue Ant at the time the statements are made, and there should be no expectation that these forward-looking statements will be updated or supplemented as a result of new information, estimates or opinions, future events or results or otherwise, and Blue Ant disavows and disclaims any obligation to do so except as required by applicable law.

SOURCE Blue Ant Media Corporation

For further information, please contact: Dervla Kelly, Blue Ant Chief Marketing and Communications Officer: [email protected]; Madeleine Cohen, Blue Ant Vice President, Corporate Planning & Investor Relations: [email protected]