Voss Capital Publishes Letter to Thunderbird Shareholders - Seite 2

As we stated in our earlier press release on November 18, 2022, our singular objective for Thunderbird is to reconstitute the Board with truly independent directors capable of objectively overseeing the changes necessary to put the Company on the right path towards unlocking its full potential and creating value for all stakeholders. We believe the election of our highly qualified director candidates at the Meeting will accomplish that objective and welcome the opportunity to continue to discuss our candidates with shareholders.

We are eager for shareholders to voice their opinions as soon as possible through their votes at the Meeting, as is their right under the Company’s own Articles and the Business Corporations Act (British Columbia) (the “BCBCA”). In our view, the Board’s needless postponement of the Meeting and lack of willingness to recognize shareholder disapproval of its performance is a distraction for the Company and is wasting shareholder time and money. We had previously proposed that the date for the Meeting be set for December 28, 2022, in accordance with the BCBCA and the Company’s own Articles, which require that Thunderbird hold the Meeting in 2022, and we call on the Board to publicly announce a prompt date for the Meeting as soon as possible. We reserve all rights with respect to the Meeting and potential action to ensure the Meeting is promptly held.

Sincerely,
Travis Cocke
Chief Investment Officer
Voss Capital, LLC

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward‐looking statements. All statements contained in this filing that are not clearly historical in nature or that necessarily depend on future events are forward‐looking, and the words “anticipate,” “believe,” “expect,” “estimate,” “plan,” and similar expressions are generally intended to identify forward‐looking statements. These statements are based on current expectations of Voss and currently available information. They are not guarantees of future performance, involve certain risks and uncertainties that are difficult to predict, and are based upon assumptions as to future events that may not prove to be accurate. Voss does not assume any obligation to update any forward‐looking statements contained in this press release.