Glacier Ventures International Corp.
TSX : GVC

Glacier Ventures International Corp.

October 17, 2006 12:35 ET

Glacier Completes Common Share Offering

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 17, 2006) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES

Glacier Ventures International Corp. ("Glacier" or the "Company") (TSX:GVC) announces that it has closed a private placement of 4,000,000 Common Shares at a price of $3.00 per Common Share, raising $12 million of equity.

The private placement was arranged by a syndicate of investment dealers co-led by Raymond James and BMO Nesbitt Burns Inc., together with Canaccord Capital Corporation, Haywood Securities Inc. and Sprott Securities Inc.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States or to a U.S. person absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.

Shares in Glacier are 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

  • Glacier Ventures International Corp.
    Mr. Jonathon Kennedy
    (604) 872-8565
    or
    Glacier Ventures International Corp.
    Mr. Orest Smysnuik
    (604) 872-8565
    Website: www.glacierventures.com