Blue Ant Media Corporation (TSX: BAMI) completed its acquisition of Thunderbird Entertainment Group Inc. (TSXV: TBRD; OTCQX: THBRF) by way of plan of arrangement on January 28, 2026, a deal first announced on November 26, 2025. Note that no foreign-currency conversion is required: all amounts were expressed in Canadian dollars, with total consideration of approximately C$89 million (roughly US$63 million per media reports at announcement). Blue Ant acquired all 49,656,639 Thunderbird shares for an aggregate 5,857,979 Blue Ant subordinate voting shares plus C$40 million in cash; shareholders could elect 0.2165 Blue Ant shares or C$1.77 cash per share, subject to proration, and cash electors received approximately 56% of their requested cash.

The document identifies financial advisors rather than underwriters, agents, or dealers: Cormark Securities Inc. advised Blue Ant and Canaccord Genuity Corp. advised Thunderbird, while Bennett Jones LLP and DLA Piper (Canada) LLP served as legal advisors to Blue Ant and Thunderbird, respectively. Odyssey Trust Company acted as depositary.

Blue Ant expects C$7 million in synergies, amended its Bank of Montréal credit facility, appointed David Lazzarato to its board, and named Jennifer Twiner McCarron President, Animation, Kids and Young Adult of Blue Ant Studios. Thunderbird shares were slated for TSXV delisting around January 30, 2026.