HOUSTON, Sept. 9, 2021 /CNW/ - Voss Capital, LLC ("Voss
Capital") announced today that it has acquired approximately 10.5%
of the outstanding shares of Thunderbird Entertainment Group Inc.
(TSXV: TBRD) (OTCQX: THBRF) ("Thunderbird").
Taylor Henderson of Voss Capital
stated, "The rapidly growing content budgets of the top streamers
and studios provides a strong tailwind for high quality content
creators in the media industry, and this remains one of Voss's high
conviction investment themes. We believe Thunderbird is perfectly
positioned to continue to benefit from this secular growth in
content spend as the company has proven itself to be a trusted
partner to the largest media companies in the world.
In our opinion, the company's animation studio, Atomic Cartoons,
has tremendous growth opportunities ahead as they have demonstrated
the ability to acquire IP in a low-risk manner and successfully
develop hit shows. Independent studios comparable to Thunderbird
are currently garnering heightened interest from both strategic and
private equity acquirers which we believe further highlights the
company's attractive position in a booming industry."
Travis Cocke, CIO of Voss, added,
"We believe Thunderbird stock represents an attractive long-term
investment and continues to be underfollowed and undervalued in the
public markets. Over the past year, we have been impressed in our
conversations with the Thunderbird team at every level and we look
forward to continuing our engagement with management and the board
in order to support our mission of unlocking value for all
shareholders in the coming years."
Voss Capital will be filing an early warning report on SEDAR
(www.sedar.com) in connection with its acquisition of Thunderbird
shares pursuant to the alternative monthly reporting system on or
before October 10, 2021.
About Voss Capital
Voss Capital, LLC advises a long/short and a long-only strategy.
The Voss Value Fund, LP and the Voss Value Offshore Fund, Ltd. are
feeder funds to the Voss Value Master Fund, LP ("the Long/Short
Fund"), which represents the long/short strategy. The long-only
strategy is represented by the Voss Value-Oriented Special
Situations Fund ("the Long-Only Fund"). The Long/Short Fund and the
Long-Only Fund target underfollowed special situations and deep
value opportunities.
SOURCE Voss Capital, LLC
