VANCOUVER, British Columbia, March 31, 2021 (GLOBE NEWSWIRE) -- Madison Venture Corporation (“Madison”) reports that it has entered into a purchase agreement to acquire, by private transaction, of a total of 5,000,000 common shares of Glacier Media Inc. (“Glacier”) at a price of $0.41 per common share for total consideration of $2,050,000.

Prior to the acquisition, Madison and its affiliates had ownership over 62,555,632 common shares of Glacier, representing approximately 49.96% of the outstanding common shares of Glacier. Following the acquisition, Madison and its affiliates will own, directly or indirectly, 67,555,632 common shares of Glacier, which represents approximately 50.9% of Glacier’s outstanding common shares following completion of Glacier’s share exchange transaction with GVIC Communications Corp. which Glacier announced is closing today, and own warrants to acquire an additional 1,115,000 common shares of Glacier at a price of $4.48 per share.

The common shares will be acquired for investment purposes. Madison may acquire additional securities of Glacier in the future on the open market or in private transactions.

For further information, or to obtain a copy of the acquisition report filed under securities legislation, please contact Mr. Dino Di Marco, Executive Vice President and Chief Financial Officer, at 604-638-5272.

About Madison: Madison is a privately held diversified holding company.