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Blue Ant Media — M&A Activity 2026
Feb 6, 2026
48037_rns_2026-02-06_6d860dd1-5e43-46c9-abcc-0a8ff1cae9fa.pdf
M&A Activity
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Form 51-102F3 Material Change Report
Item 1. Name and Address of Company
Blue Ant Media Corporation (the "Corporation") 99 Atlantic Avenue, 4th Floor Toronto, Ontario, M6K 3J8
Item 2. Date of Material Change
January 28, 2026
Item 3. News Release
The Corporation and Thunderbird Entertainment Group Inc. ("Thunderbird") issued a joint news release with respect to the material change on January 28, 2026 through the facilities of PR Newswire and subsequently filed a copy of the news release on SEDAR+ at www.sedarplus.ca under the Corporation's issuer profile.
Item 4. Summary of Material Change
On January 28, 2026, the Corporation completed its previously announced acquisition of Thunderbird pursuant to a statutory plan of arrangement under the Business Corporations Act (British Columbia) (the "Acquisition").
Item 5.1. Full Description of Material Change
On January 28, 2026, the Corporation completed the Acquisition pursuant to the terms of an arrangement agreement between the Corporation and Thunderbird dated November 25, 2025, a copy of which is available on SEDAR+ under the Corporation's profile at www.sedarplus.ca. The Corporation issued an aggregate of 5,857,979 subordinate voting shares of the Corporation and paid \$40 million in cash to former shareholders of Thunderbird as consideration under the Acquisition.
As a result of the Acquisition, Thunderbird became a wholly-owned subsidiary of the Corporation. Following the completion of the Acquisition, the common shares of Thunderbird were delisted from the TSX Venture Exchange and ceased to be quoted on the OTCQX Market as of the close of markets on January 30, 2026.
In connection with the Acquisition, the Corporation appointed one new director, David Lazzarato, to the board of directors of the Corporation.
Item 5.2. Disclosure for Restructuring Transactions
Not applicable.
Item 6. Reliance on subsection 7.1(2) of National Instrument 51-102
Not applicable.
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Item 7. Omitted Information
Not applicable.
Item 8. Executive Officer
Astrid Zimmer Chief Legal Officer & Corporate Secretary [email protected] 416-646-4434
Item 9. Date of Report
February 6, 2026