Houston, Texas--(Newsfile Corp. - November 4, 2022) - Voss Capital LLC ("Voss") will cease to file reports in accordance with the alternative monthly reporting system under Part 4 of National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues for Thunderbird Entertainment Group Inc. ("Thunderbird").

On November 4, 2022, Voss delivered a letter to Thunderbird, notifying it of Voss's intention to nominate up to six directors for election to Thunderbird's Board of Directors (the "Board") at Thunderbird's annual general and special meeting of shareholders scheduled to be held on December 6, 2022 (the "Meeting"), and to solicit proxies in support of the election of those nominee directors. Depending on certain factors, including the total number of directors up for election at the Meeting, Voss reserves the right to withdraw, or not to withdraw, any of the nominees and to nominate additional nominees for election to the Board at the Meeting, to the extent permissible under Thunderbird's governing documents and applicable law.

Voss beneficially owns or controls 6,578,823 common shares of Thunderbird ("Common Shares"), representing approximately 13.32% of the 49,386,237 outstanding Common Shares as of June 30, 2022 as reported in Thunderbird's audited consolidated financial statements for the years ended June 30, 2022 and 2021.

Voss is an investment advisor that furnishes investment advice to and manages certain investment funds and managed accounts (the "Funds"). Voss controls the securities described in its report on behalf of itself and the Funds for investment purposes. Voss intends to review its investment in Thunderbird on a continuing basis. Depending on market conditions and other factors that Voss may deem material to its investment decisions, Voss may in the future, on behalf of itself and the Funds, acquire additional securities of Thunderbird or derivative securities related to the Common Shares in the open market or in privately negotiated purchases. Voss may also, on behalf of itself and the Funds, depending on then-current circumstances, dispose of all or a portion of the securities or derivative securities related to the Common Shares in one or more transactions.

A report on Form 62-103F2 - Required Disclosure by an Eligible Institutional Investor under Section 4.3 of National Instrument 62-103 is being filed by Voss in accordance with applicable securities laws and will be available under Thunderbird's profile at . Thunderbird's head office is located at 123 West 7^th Avenue, Vancouver, British Columbia, V5Y 1L8. Voss's address is 3773 Richmond Avenue, Suite 500, Houston, Texas 77046.

FOR MORE INFORMATION

For further information or to receive a copy of the report filed in connection with this press release, please see Thunderbird's profile on the SEDAR website () or contact Serena Koontz, Voss's Head of Investor Relations, at (832) 519-9427 or serena@vosscap.com.

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