Glacier Ventures International Corp.
TSX : GVC

Glacier Ventures International Corp.

April 30, 2007 16:20 ET

Glacier Announces Results of Shareholder Meeting

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 30, 2007) - Glacier Ventures International Corp. ("Glacier" or the "Company") (TSX:GVC) reported that its previously announced agreement with GVIC Publications Ltd. ("GVIC") (in which Glacier acquired an equity interest during 2006) whereby Glacier agreed to sell substantially all of its assets to GVIC in exchange for GVIC shares and a $15 million note payable has now been completed. This restructuring transaction was subject to Glacier shareholder approval, which was obtained today at the Annual and Special Meeting of Glacier shareholders. Votes cast in favour of the transaction were well in excess of the required approval under the Canada Business Corporations Act.

Under the transaction, Glacier acquired 8,402,900,972 Class C Non-Voting Shares ("Non-Voting Shares") of GVIC, representing approximately 97.2% of the Non-Voting Shares of GVIC. The Non-Voting Shares were acquired in exchange for Glacier's assets at a price equal to $0.0369 per share. The transaction values the Glacier assets at $325 million net of debt outstanding and GVIC at $9.5 million. Under the transaction, GVIC has assumed all liabilities of Glacier related to the Glacier assets including any indebtedness for borrowed money. As a result of the transaction, Glacier now directly and indirectly holds 8,640,079,529 Non-Voting Shares of GVIC which represents approximately 99.9% of the Non-Voting Shares of GVIC.

Shares in Glacier can be traded on the Toronto Stock Exchange under the symbol GVC.

About the Company: Glacier Ventures International Corp. is an information communications company focused on expanding across North America through both internal growth and the strategic acquisition of information communications companies that provide essential information and related services through print, electronic and online media. Glacier is currently pursuing this strategy through two core business segments: 1) the business and professional information markets and 2) the newspaper and trade publication markets.

Forward-Looking Statements

Certain statements in this press release are not historical and may constitute forward-looking statements reflecting financial performance. Investors are cautioned that all forward-looking statements involve risks and uncertainties. Forward-looking statements are based on management's estimates, beliefs and opinions on the date the statements are made. Glacier assumes no obligation to update forward-looking statements if circumstances should change. Additional information on these and other potential factors that could affect Glacier's financial results are detailed in documents filed from time to time with the applicable Canadian securities regulatory authorities.

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