Whitecastle Private Equity Partners Fund LP Purchases Shares of Grey Horse
Corporation

TORONTO, Dec. 15 /CNW/ - Whitecastle Private Equity Partners Fund LP ("Whitecastle") announced today that it has purchased 111,500 common shares of Grey Horse Corporation (TSX: GHC) ("Grey Horse") through the facilities of the Toronto Stock Exchange. The 111,500 common shares purchased by Whitecastle represent approximately 1.67% of the issued and outstanding common shares of Grey Horse. The price paid for the Grey Horse common shares was $4.99 per share.

Prior to the transaction, Whitecastle owned or exercised control or direction over 633,100 common shares, or approximately 9.46% of the issued and outstanding common shares of Grey Horse. As a result of the transaction, Whitecastle owns or exercises control or direction over 744,600 common shares, or approximately 11.13% of the issued and outstanding common shares of Grey Horse.

The common shares of Grey Horse were acquired for investment purposes. Whitecastle may acquire additional shares of Grey Horse, subject to price and availability.

SOURCE WHITECASTLE PRIVATE EQUITY PARTNERS FUND LP

For further information: For further information: Whitecastle Private Equity Partners Fund LP, Elmer Kim, Managing Director, (416) 961-5355

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WHITECASTLE PRIVATE EQUITY PARTNERS FUND LP

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