Grey Horse Corporation
TSX : GHC

Grey Horse Corporation

September 09, 2009 16:02 ET

Grey Horse Corporation: Normal Course Issuer Bid

TORONTO, ONTARIO--(Marketwire - Sept. 9, 2009) - Grey Horse Corporation ("Grey Horse")(TSX:GHC) announces that the Toronto Stock Exchange has accepted its notice of intention for a normal course issuer bid in respect of its Common Shares. Purchases pursuant to the notice will not commence prior to September 11, 2009 and will not continue beyond September 10, 2010. The notice will enable Grey Horse to acquire up to 333,306 Common Shares for cancellation, representing 5% of the 6,666,126 Common Shares issued and outstanding as at September 3, 2009. The Common Shares will be purchased on the open market from time to time through the facilities of the TSX or other Canadian marketplaces. The purchase of, and payment for, the Common Shares will be made by the Grey Horse in accordance with the requirements of the TSX or other Canadian marketplaces as applicable. The daily purchase restriction will be 1,000 shares, other than block purchase exemptions and all shares purchased under the normal course issuer bid will be cancelled.

This is the second normal course issuer bid undertaken by Grey Horse. The previous normal course issuer bid commenced on January 21, 2008 and continued until November 19, 2008.

Grey Horse acquired and cancelled 450,300 common shares in the previous normal course issuer bid at an average price of $7.49 per common share.

Common Shares will be purchased by Grey Horse for cancellation from time to time pursuant to the Issuer Bid where management is of the view that the acquisition of such Common Shares is the most appropriate use of Grey Horse's funds. It is also expected that the purchase of Common Shares pursuant to the Issuer Bid will enhance the value of the remaining shares of Grey Horse.

About Grey Horse

Through its wholly owned subsidiaries, Grey Horse provides transfer agent, corporate trust, corporate secretary, foreign exchange and limited market dealer services to corporations in North American capital markets. To find out more about Grey Horse Corporation, visit our website at www.greyhorsecorp.com.

Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Grey Horse Corporation
    Kevin Reed
    Vice-Chairman
    (416) 361-0930
    or
    Grey Horse Corporation
    Paul G. Smith
    President & CEO
    (416) 361-0930
    www.greyhorsecorp.com