On January 19, 2023, Thunderbird Entertainment Group Inc. announced that it has entered into a cooperation agreement Voss Capital LLC (Voss). The Company stated that the cooperation agreement includes the appointment of 2 new independent directors put forward by Voss, Asha Daniere and Mark Trachuk (the Appointees) to the Board of Directors of the Company effective immediately, as well as the nomination of a third independent director to be identified by the Company from the nominees put forward by Voss for election to the Board at the Company's upcoming 2022 annual general and special meeting of shareholders scheduled for March 6, 2023. The Company stated that pursuant to the cooperation agreement, immediately following the 2022 annual meeting, the Board has agreed to form an advisory committee to assess the Company's capital allocation strategy and evaluate all strategic opportunities to maximize value for ultimate recommendation to the Board.

Voss Capital stated that it looks forward to the nomination of an additional new independent director at the 2022 Annual Meeting, as well as it continued dialogue with the Board and the Company management team to help the Company drive value for all stakeholders.