Glacier acquires Pennard

The Board of Directors of Glacier Ventures International Corp. is pleased to announce that Glacier has acquired 100% of the shares of Pennand Inc., a Winnipeg company, which owns and operates a group of community newspapers and related printing operations in Saskatchewan. The purchase price paid was $9 million, subject to adjustment in certain circumstances.

The operations acquired include the Battlefords News Optimist, Optimist/Ad Post, Northwest Neighbours, The Maidstone Mirror, Humboldt Journal, Regional Trader and Turner Warwick Printers. The acquisition includes the real estate used by the publishing operations. The operations have a combined weekly distribution of approximately 30,000.