Tory, Ryan & Co. Inc.

January 25, 2010 16:51 ET

Tory, Ryan & Co. Inc. Acquires Securities of Greenock Resources Inc.

TORONTO, ONTARIO--(Marketwire - Jan. 25, 2010) - Tory, Ryan & Co. Inc. ("Tory, Ryan") announces that on December 23, 2009, it acquired ownership of 36 units ("Units") of Greenock Resources Inc. ("Greenock"). Each unit of Greenock consists of 50,000 common shares and 50,000 warrants of common shares in Greenock at a deemed issuance price of $0.07 per common share and three warrants to purchase one common share at an exercise price of $0.12. The three warrants will automatically convert into one common share after June 30, 2010, in the event that the common shares trade at or above $0.15 for a period of twenty consecutive trading days. As a result of this transaction, Tory, Ryan held, as at January 19, 2010, an aggregate of 1,800,000 common shares of Greenock and rights to acquire an additional 600,000 common shares of Greenock upon the exercise of the Warrants, representing a total of 2,400,000 common shares of Greenock, or approximately 11.4% of such shares outstanding as of January 19, 2010, calculated on a partially diluted basis assuming the exercise of the Warrants.

These transactions were made for investment purposes and Tory, Ryan could increase or decrease its investment in Greenock depending on market conditions or any other relevant factor.

Contact Information

  • Tory, Ryan & Co. Inc.
    Lorne H. Albaum
    President
    (416) 304-1474
    (416) 304-0240 (FAX)