Grey Ghost Press was founded in 1994 by Ann Dupuis after spending time working on the Fudge RPG system by Steffan O'Sullivan.[2] She initially created the company as Wild Mule Games in 1994, incorporated her company the following year as Ghostdancer Press, and then renamed it Grey Ghost Press.[3]
The company soon became the owner of the copyright to Fudge and began officially publishing the system with their first release Fudge 1995 Edition. Later they re-released the system as Fudge 1995 Expanded Edition.
The company also published other games based on the Fudge rules, such as Gatecrasher and Terra Incognita.
Katherine Kurtz said in the foreword of the book "...I was approached about letting Grey Ghost Press publish a role-playing game based on my world. This wasn't the first time someone had made such a request, but this one felt 'right'."[5]