Grey Horse Corporation
TSX : GHC

Grey Horse Corporation

November 21, 2008 17:12 ET

Grey Horse Reports Sale of GHC Shares by Insiders

TORONTO, ONTARIO--(Marketwire - Nov. 21, 2008) - Grey Horse Corporation (TSX:GHC) ("Grey Horse", "the Corporation" or "GHC"), a Canadian financial services company serving the corporate and institutional markets, reported today that two of its executives recently sold GHC common shares and have completed the appropriate insider filings.

On November 14, 2008, Kevin Reed, GHC's President and Chief Executive Officer, sold 225,000 shares of the Corporation and Paul G. Smith, GHC's Executive Vice-President and Chief Financial Officer, sold 50,000 shares of the Corporation through the facilities of the Toronto Stock Exchange. Following this trade, Mr. Reed and Mr. Smith continue to hold substantial equity positions in the Corporation with each owning approximately 3.6% and 6.2%, respectively, of the number of common shares of the Corporation outstanding as at September 30, 2008. The requisite insider filings were made today on SEDI concurrent with this press release.

In connection with the trades Mr. Reed stated, "These shares were sold out of a margin account. In no way does this divestiture reflect my view of GHC's financial position or of its future performance. Since GHC's inception, I have been and continue to be one of its largest shareholders and my confidence in the company remains strong. I plan to continue to increase my holdings in the future."

Grey Horse's company filings can be found on SEDAR at www.sedar.com and on the Corporation's website at www.greyhorsecorp.com.

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. Learn more at www.greyhorsecorp.com.

Certain information included in this press release may be forward-looking and involve risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Factors that might cause a difference include, but are not limited to, competitive developments, risks associated with Grey Horse's growth, the state of the financial markets, the frequency of large volume transactions, regulatory risks and other factors. Unless otherwise required by applicable securities laws, Grey Horse disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. More detailed information about potential factors that could affect Grey Horse's financial and business results is included in public documents Grey Horse files from time to time with Canadian securities regulatory authorities.

The Toronto Stock Exchange has neither approved nor disapproved the contents of this press release.

Contact Information

  • Grey Horse Corporation
    Kevin Reed
    President & CEO
    (416) 361-0930
    or
    Grey Horse Corporation
    Paul G. Smith
    EVP & CFO
    (416) 361-0930
    Website: www.greyhorsecorp.com