Thunderbird Entertainment Group Inc. announced that it has entered into a cooperation agreement with Voss Capital LLC. Pursuant to the Cooperation Agreement, immediately following the 2022 Annual Meeting, the Board has agreed to form an advisory committee (the “Advisory Committee”) to assess the Company's capital allocation strategy and evaluate all strategic opportunities to maximize value for ultimate recommendation to the Board. Thunderbird notes that there can be no assurance that a transaction will result from any process established by the Advisory Committee.

Under the terms of the Cooperation Agreement, Voss has, among other things, withdrawn its slate of proposed nominees and agreed to abide by customary voting commitments and standstill restrictions until the conclusion of the Company's meeting of shareholders with respect to the fiscal year ending June 30, 2023, at which time the Cooperation Agreement will expire.