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VANCOUVER - Thunderbird Entertainment Group Inc. (TSXV:TBRD, OTCQX: THBRF), a content producer with a market capitalization of $53 million, has amended its credit agreement with Royal Bank of Canada, securing access to C$75.45 million in credit facilities, according to a company press release. InvestingPro analysis shows the company maintains strong financial health with more cash than debt on its balance sheet.
The amended agreement, dated June 14, 2024, provides the entertainment company with multiple financing options through its subsidiaries Thunderbird Entertainment Inc. and Atomic Cartoons Inc.
The facilities include a C$20 million revolving term facility for acquiring media companies, a C$10 million operating line of credit for day-to-day operations, a C$4.2 million revolving lease facility for capital asset purchases, a C$750,000 foreign exchange line of credit, a C$500,000 business Visa facility, and a C$40 million revolving production operating line of credit for financing tax credits.
All facilities are repayable on demand and secured by general security agreements over the assets of the company and its guarantor subsidiaries.
The TSX Venture Exchange has conditionally approved the amendment, with the company seeking final approval shortly.
Thunderbird Entertainment produces animated, factual, and scripted content through its divisions including Atomic Cartoons and Great Pacific Media. The company’s productions include "Mermicorno: Starfall," "Highway Thru Hell," and "Kim’s Convenience."
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