The Company also reports an amendment of credit
facilities
Thunderbird Distribution, a division of Thunderbird
Entertainment Group (TSXV:TBRD, OTC – THBRF) (“Thunderbird” or the
“Company”), is pleased to announce a raft of catalogue-title sales
across scripted, kids and family, and unscripted genres.
Scripted
Fuse Media has taken season one (13 x 30’) of Thunderbird’s hit
comedy Kim’s Convenience for its U.S. linear channel, while Encore
Airlines has picked up season 5 (13 x 30’) of the series. And
U.S.-based AVOD Fawesome has picked up seasons 1 and 2 (26 x 60’)
and the MOW (1 x 90’) of critically acclaimed classic crime drama
Intelligence.
Feature films Slow West, High-Rise, The Riot Club and That Sugar
Film are now available on Tubi (Canada), while Pluto (Canada) has
made High-Rise and Entanglement available. TVA (French Canada) has
licensed 2016’s Up For Love (Un Homme à la Hauteur).
Kids and family
Netflix has renewed the U.S. license for mid-2010s Thunderbird
YA comedy Some Assembly Required (57 x 30’). Canadian pubcasters
TVO and Knowledge Network have picked up season 2 of Molly of
Denali (23 x 30’, 1x 44’ special, 20 x 3’ shorts), produced by GBH
and Atomic Cartoons. Knowledge is also now airing brand-new Atomic
Cartoons animated preschool special Rocket Saves the Day (1 x 45’),
and the PBS KIDS commission has been licensed by PCCW Media (Hong
Kong) and UYoung/Ukids (China).
Unscripted
Ten 90-minute installments of celebrity-focused docuseries I
Am…, including I Am Steve McQueen, I Am Chris Farley and I Am Heath
Ledger, are now available on Tubi (Canada) and Roku (Canada). Roku
(U.S., Canada, U.K.) is now streaming documentary film Chasing
Evel: The Robbie Knievel Story (120’). Fuse Media has licensed
pop-culture focused docuseries Celebrity Style Story, season 2 (40
x 30’) for its FAST channel, Backstage.
“As we continue to build out Thunderbird Distribution’s
operations with third-party titles and our original series like
Mermicorno: Starfall, we’re pleased to see a continued interest and
demand for our catalogue titles from international linear,
streaming, AVOD and FAST platforms,” said Richard Goldsmith,
President of Global Distribution and Consumer Products.
Amendment of Credit Facilities
Thunderbird, through its subsidiaries Thunderbird Entertainment
Inc. (“TEI”) and Atomic Cartoons Inc. (“Atomic”), has amended its
credit agreement with Royal Bank of Canada (“RBC”) allowing the
Company to borrow up to $63 million (the “Facilities”), comprised
of a $5 million revolving term loan bearing interest at RBC’s prime
rate plus 1.25% to bridge production financing; a $5 million
revolving term loan bearing interest at RBC’s prime rate plus 1.25%
to finance distribution advances to greenlit Canadian content
eligible productions owned by TEI; an $8 million revolving
unmargined operating line of credit bearing interest at RBC’s prime
rate plus 1.25% to finance day to day operations and general
corporate expenses; a $40 million revolving production operating
line of credit bearing interest at RBC’s prime rate plus 0.5% to
finance Canadian film or video production services tax credits; a
$4.2 million revolving facility by way of leases to finance regular
ongoing capital asset purchases; and a $750,000 foreign exchange
line of credit available to Atomic to hedge against fluctuating
exchange rates. The Facilities are repayable on demand and secured
by general security agreements.
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 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. 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) and
Thunderbird Scripted. Productions under the Thunderbird umbrella
include The Last Kids on Earth, Molly of Denali, Highway Thru Hell,
Kim’s Convenience, Reginald the Vampire and Boot Camp. Thunderbird
Distribution and Thunderbird Brands manage global media and
consumer products rights, respectively, for the Company and select
third parties. 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
Thunderbird’s public communications may include written or oral
“forward-looking statements” and “forward-looking information” as
defined under applicable Canadian securities legislation. All such
statements may not be based on historical facts that relate to the
Company’s current expectations and views of future events and are
made pursuant to the “safe harbour” provisions of applicable
securities laws.
Forward-looking statements or information may be identified by
words such as “anticipate”, “continue”, “estimate”, “expect”,
“forecast”, “may”, “will”, “plan”, “project”, “should”, “believe”,
“intend”, or similar expressions concerning matters that are not
historical facts. Forward-looking statements in this document
include, but are not limited to, statements with respect to plans
to continue building out Thunderbird Distribution’s operations with
third-party titles and original series; and borrowing under the
Facilities.
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; product capability and
acceptance; international risk and currency exchange rates; and
technology changes. An assessment of these risks that could cause
actual results to materially differ from current expectations is
contained in the “Risks and Uncertainty” section of June 30, 2022
MD&A. The foregoing is not an exhaustive list. Additional risks
and uncertainties not presently known to Thunderbird or that
management believes to be less significant may also adversely
affect the Company.
The forward-looking statements or information contained in this
document represent our views as of the date hereof and as such
information should not be relied upon as representing our views as
of any date subsequent to the date of this document. The Company
undertakes no obligation to update publicly or revise any
forward-looking statements or information, whether as a result of
new information, future events or otherwise, unless so required by
applicable securities laws. Accordingly, readers are cautioned not
to place undue reliance on forward-looking statements or
information.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240627222824/en/
Media Relations Contacts: Lana Castleman, Director,
Marketing & Communications Phone: 416-219-3769 Email:
lcastleman@thunderbird.tv
Corporate Communications Julia Smith Finch Media Email:
Julia@finchmedia.net
Investor Relations Contact: Glen Akselrod, Bristol Capital
Phone: + 1 905.326.1888 ext 1 Email: glen@bristolir.com
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