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."
Factual/Unscripted Division
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.
Scripted Division
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.
Distribution Division
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."
To receive regular updates from Thunderbird, please visit
www.thunderbird.tv to subscribe to the Company's emailing
list.
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.