Madison Venture Corporation

August 28, 2012 17:33 ET

Madison Venture Announces Reorganization of Shareholdings in Glacier Media

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 28, 2012) - Madison Venture Corporation ("Madison") announces that a special purpose investment entity controlled by Madison has been reorganized. The investment entity had in 2007 acquired 6,403,323 common shares of Glacier Media Inc. ("Glacier") (TSX:GVC). Due to certain estate planning needs, the investment entity has been wound-up and the common shares of Glacier held by the investment entity have been distributed to the ultimate shareholders. Accordingly, Madison no longer has control over 6,403,323 common shares of Glacier previously held by the investment entity. Madison has not disposed of any of the 24,202,042 common shares of Glacier which are owned directly or indirectly by Madison. Accordingly, following the reorganization, Madison continues to own directly or indirectly approximately 27.1% of Glacier's outstanding common shares. The majority of the Glacier common shares distributed by the special purpose investment entity were received by shareholders of Madison and their associates and have not been sold.

For further information, or to obtain a copy of the acquisition report filed under securities legislation, please contact Bruce Aunger at (604) 708-3283.

Contact Information

  • Bruce Aunger
    (604) 708-3283