Thunderbird Entertainment Group Inc. (TSXV: TBRD, OTCQX: THBRF)
(“Thunderbird” or the “Company”) is pleased to announce that it has
received approval from the TSX Venture Exchange (“TSXV”) of its
Notice of Intention to Make a Normal Course Issuer Bid (the
“NCIB”).
Under the NCIB, the Company may purchase for cancellation up to
3,190,236 common shares (the “Shares”) (representing
approximately 10% of its public float of 31,902,359 Shares as of
December 9, 2024) over a twelve-month period commencing on December
9, 2024. The NCIB will expire no later than December 8, 2025.
The Company currently has an existing normal course issuer bid
in effect, which began on December 7, 2023 and is set to expire on
December 6, 2024 (the “Existing NCIB”). Under the Existing
NCIB, up to and including the date of this news release, the
Company has repurchased for cancellation 591,400 common shares for
total consideration of $1,229,881.00, representing an average price
of $2.08 per common share. The method of acquisition was purchases
effected on the open market through the facilities of the TSXV
only, conducted by Cormark Securities Inc. Purchase and payment for
the securities was made in accordance with the requirements of the
TSXV. The price to be paid was the market price of the securities
at the time of the acquisition. In connection with approval of the
NCIB, the Company will not be completing any additional purchases
under the Existing NCIB.
Thunderbird believes that from time to time, the market price of
its Shares may not reflect their underlying value and that the
purchase of its Shares will enhance shareholder value and increase
liquidity. The Company intends to fund the purchases out of
available cash.
All purchases made pursuant to the NCIB will be made through the
facilities of the TSXV. The NCIB will be made in accordance with
the applicable rules and policies of the TSXV and applicable
Canadian securities laws. The price that Thunderbird will pay for
Shares in open market transactions will be the market price at the
time of purchase. Any Shares that are purchased under the NCIB will
be cancelled. The actual number of Shares that may be purchased and
the timing of such purchases will be determined by the Company.
Decisions regarding purchases will be based on market conditions,
share price, best use of available cash, and other factors.
Thunderbird has appointed Cormark Securities Inc. to make
purchases under the NCIB on its own behalf.
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 Mermicorno: Starfall, Super Team Canada, Molly of Denali,
Highway Thru Hell, Kim’s Convenience, Boot Camp, and Sidelined: The
QB and Me. 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 Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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.
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. Certain information contained in this news
release may constitute forward-looking information, including
statements related to the Company's NCIB, the dates and duration of
the NCIB and the purchases of Common Shares made thereunder, and
the anticipated benefits thereof.
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; and other factors set out in the “Risk and Uncertainty”
section of the Company’s MD&A dated June 30, 2024. 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. In addition, there can be no assurance that the Company
will repurchase all or any of the Common Shares referred to in this
news release under the NCIB. In particular, the purchase by the
Company of Common Shares pursuant to the NCIB will depend, among
others, on the prevailing market price from time to time of the
Common Shares. There can also be no certainty that purchases of
Common shares under the NCIB will achieve the desired
objectives.
The forward-looking statements or information contained in this
document represent the Company’s views as of the date hereof, and
therefore 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’s actual results, performance or
achievement could differ materially from those expressed in, or
implied by, these forward-looking statements and, accordingly, no
assurance can be given that any of the events anticipated by the
forward-looking statements will transpire or occur, or if any of
them do so, what benefits the Company will derive therefrom.
Readers are therefore cautioned that the foregoing lists of
important factors are not exhaustive, and they should not unduly
rely on the forward-looking statements included in this news
release. All forward-looking statements contained in this news
release are expressly qualified by this cautionary statement.
Thunderbird has no intention, and undertakes no obligation, to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
required by law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20241204264819/en/
For further information: Investor Relations: Glen
Akselrod, Bristol Capital Phone: + 1 905 326 1888 ext 1 Email:
glen@bristolir.com
Media Relations: Lana Castleman, Director, Marketing
& Communications Phone: 416-219-3769 Email:
lcastleman@thunderbird.tv
Corporate Communications Julia Smith, Finch Media Email:
Julia@finchmedia.net
Thunderbird Entertainment (TSXV:TBRD)
過去 株価チャート
から 11 2024 まで 12 2024
Thunderbird Entertainment (TSXV:TBRD)
過去 株価チャート
から 12 2023 まで 12 2024
