Thunderbird Entertainment amends credit facilities with RBC for C$75.45 million

Thunderbird Entertainment Group Inc. (TSXV: TBRD, OTCQX: THBRF) amended its credit facilities agreement with Royal Bank of Canada, providing access to up to C$75.45 million in revolving credit facilities.

The facilities include a C$20 million revolving term facility for acquisitions of select media companies at RBC's prime rate plus 1.05%, and a C$10 million revolving operating line of credit for day-to-day operations at prime plus 0.50%. Additional facilities comprise a C$4.2 million revolving lease facility for capital asset purchases, a C$750,000 foreign exchange line of credit at prime plus 1.25%, and a C$500,000 business Visa facility.

The agreement also provides Thunderbird's subsidiary Atomic Cartoons with a C$40 million revolving production operating line of credit to finance Canadian Film or Video Production Services Tax Credits and equivalent provincial tax credits, bearing interest at RBC's prime rate plus 0.50%.

"The agreement provides enhanced flexibility to scale our operations and invest in new opportunities," said Jennifer Twiner McCarron, CEO and Chair of Thunderbird Entertainment, according to the company's statement.

The facilities are repayable on demand and secured by general security agreements over the assets of the company and its guarantor subsidiaries. The facilities are not convertible into securities and no securities are being issued to RBC in connection with the agreement.

The TSX Venture Exchange has conditionally approved the amendment, with the company seeking final approval. The Vancouver-based entertainment company develops, produces, and distributes animated, factual, and scripted content for digital platforms and broadcasters.

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