Thunderbird Entertainment Reports Voting Results From Special Meeting of Shareholders and Preliminary Election Results to Determine the Form of Consideration to Be Received by Shareholders

Executive Summary

• Thunderbird Entertainment’s shareholders approved the arrangement resolution to be acquired by Blue Ant Media, with 78.84% voting in favour (62.91% of outstanding shares voted).
• Preliminary election results show roughly 81% of shareholders elected cash consideration ($1.77 per share, up to a $40 M cap) and about 19% elected share consideration (0.2165 Blue Ant subordinate voting shares per Thunderbird share).
• The company also granted 476,951 restricted stock units (RSUs) to directors and officers under its omnibus compensation plan.

Key Details

• Arrangement Resolution: Required ≥66⅔% of votes; achieved 78.84% approval from shareholders present.
• Voting Participation: 31,047,832 shares voted, representing 62.91% of all outstanding shares.
• Next Steps: Thunderbird will apply to the Supreme Court of British Columbia for a final order on January 26 2026; completion expected in the coming weeks pending regulatory and exchange approvals.
• Cash Consideration Election: Approximately 81% of shareholders elected cash at $1.77 per share, subject to proration with a maximum aggregate cash payout of $40 million.
• Share Consideration Election: Approximately 19% of shareholders elected (or were deemed to have elected) the share component – 0.2165 Blue Ant subordinate voting shares per Thunderbird share.
• Proration Note: Final allocation of cash and share consideration will be calculated according to the plan of arrangement (Schedule “A” of the Arrangement Agreement dated November 25 2025).
• RSU Grants: 476,951 RSUs awarded to certain directors and officers; each RSU converts to one Thunderbird share upon vesting over 1‑3 years, with acceleration provisions in specific circumstances.

Notable Quotes

(No direct quotes were included in the release.)