Mr. Lazzarato has extensive Director experience with public and private company Boards with a focus on strategy, governance, leadership, finance, risk and compensation

Thunderbird Entertainment Group Inc. (TSXV: TBRD, OTCQX: THBRF) (“Thunderbird” or the “Company”) is pleased to announce the appointment of David Lazzarato to the Company’s Board of Directors (the “Board”) as the newest independent member, effective today. Mr. Lazzarato has a proven track record of success in leading growth, significant transformational changes and financial restructurings in the media, broadcast and telecommunications industries.

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Thunderbird Entertainment welcomes David Lazzarato to its Board of Directors (Photo: Business Wire)

The appointment of Mr. Lazzarato enhances Thunderbird’s financial and operational expertise as the Company continues to maintain its industry-leading position. He has also been appointed Chair of the Strategic Advisory Committee.

“We are very pleased to welcome David to our Board of Directors,” said Jennifer Twiner McCarron, CEO and Board Chair of Thunderbird. “His knowledge of the business of entertainment and content production, and his deep Director-level experience, focusing on strategy, governance and finance, makes him an incredible addition to our Board as we move forward at Thunderbird.”

Mr. Lazzarato currently serves on Dublin-based Flutter Entertainment’s Board and as Chair of its Risk and Sustainability Committee, and on Canopy Growth’s Board and as its Chair of the Audit Committee. He was previously Chair of the Boards of Hamilton Health Sciences and McMaster University, both in Hamilton. His impressive career also includes senior executive positions with Alliance Atlantis Communications, Allstream, Bell Canada and CAE. Mr. Lazzarato holds a B.Comm from McMaster University and an FCPA in Ontario. He has also earned his ICD.D designation from the Rotman School of Management.

“Thunderbird Entertainment is an outstanding Canadian-based production and distribution company that has deservedly received scores of accolades and awards for its content and approach to the business. I look forward to working with Jennifer, her team, and the Board as we continue to grow the Company and strive to maximize stakeholder value,” said Mr. Lazzarato.

Mr. Lazzarato joins current Board members Jennifer Twiner McCarron (Board Chair), Asha Daniere (Lead Director), Lisa Coulman, Taylor Henderson, Azim Jamal and Jérôme Levy.

The Board has authorized the grant of an aggregate of 40,000 stock options to David Lazzarato in accordance with the terms of the Company’s stock option plan. The options are exercisable at a price of $1.91 per share and have a seven-year term, subject to vesting provisions. In addition, the Company has granted an aggregate of 33,831 restricted share units (“RSUs”) to Mr. Lazzarato, under the terms of the Company’s equity incentive compensation plan. The RSUs will vest on the one-year anniversary of the date of the grant. Each vested RSU entitles the holder to receive one common share of the Company.

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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 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, Deadman’s Curse, Kim’s Convenience and Reginald the Vampire. 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.

SOURCE Thunderbird Entertainment Group Inc.

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.

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 the Board and management continuing to grow the Company and striving to maximize stakeholder value and the RSU vesting schedule. 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, 2023 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 the Company’s views as of the date hereof and as such information should not be relied upon as representing the Company’s 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.

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