Glacier Ventures International Corp.
TSX : GVC

Glacier Ventures International Corp.

June 10, 2005 19:31 ET

Glacier Announces Shareholder Approval of Madison Publishing Acquisition

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 10, 2005) - Glacier Ventures International Corp. ("Glacier") (TSX:GVC) is pleased to announce that it received approval today of 99.95% of the non-related shareholders for the previously-announced acquisition by Glacier from Madison Venture Corporation and its associates ("Madison") of the controlling shares, interests and assets of the entities that comprise the Madison Publishing Group ("Madison Publishing") held directly or indirectly by Madison.

The acquisition from Madison required the approval of the majority of the shareholders of Glacier other than Madison, its associates, affiliates, directors and officers pursuant to certain securities rules and the rules of the Toronto Stock Exchange.

Glacier is also concurrently negotiating the acquisition of substantially all of the balance of the shares and interests of other parties owning minority interests in the Madison Publishing entities.

It is anticipated that the transaction will be completed in early July 2005 with an effective date of July 1, 2005.

Madison Publishing is comprised of two operating divisions: 1) the Community Newspaper Group, which publishes community newspapers and related publications in Whistler, Squamish, Lillooet, and the Sunshine Coast (Sechelt and Powell River), which are located in the coastal areas adjacent to Vancouver, British Columbia and 2) the Business in Vancouver Media Group ("BIVMG"), which publishes Business in Vancouver (a weekly business newspaper) and related specialty magazines, the Western Investor (a commercial and industrial real estate publication), the Employment Paper, the Better Business Bureau Pages (a telephone directory) and the Visitor's Choice tourist magazines. The BIVMG publications are primarily based in the Vancouver area, except for the Western Investor which is distributed across western Canada. The Madison Publishing publications have a combined distribution of approximately 2.4 million copies.

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.

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.

The Toronto Stock Exchange has neither approved nor disapproved the form or content of this release.

Contact Information