VANCOUVER, B.C., May 23, 2019 (GLOBE NEWSWIRE) -- Madison Venture Corporation (“Madison”) reports that is has acquired, by private transaction, a total of 10,000,000 common shares of Glacier Media Inc. (“Glacier”) at a price of $0.65 per common share for total consideration of $6,500,000.
Prior to the acquisition, Madison and its affiliates had ownership over 36,209,386 common shares of Glacier, representing approximately 32.97% of the outstanding common shares of Glacier. Following the acquisition, Madison and its affiliates own, directly or indirectly, 46,209,386 common shares of Glacier, which represents approximately 42.1% of Glacier’s outstanding common shares, 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 were acquired for investment purposes. The common shares were acquired by private agreement from two persons, and the applicable consideration paid was not more than 115% of the market price as determined under applicable securities legislation. 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. Bruce Aunger, Director, at 604-708-3283.
About Madison: Madison is a privately held diversified holding company.