Tonbridge Power Inc.

Tonbridge Power Inc.

October 15, 2009 16:42 ET

Proposed Consolidation of Tonbridge Power Inc. Common Shares

TORONTO, ONTARIO--(Marketwire - Oct. 15, 2009) -


Tonbridge Power Inc. (TSX VENTURE:TBZ) ("Tonbridge" or the "Company") announces that it has scheduled a special meeting (the "Meeting") of shareholders for November 4, 2009 whereby shareholders will be asked to provide the board of directors (the "Board") of the Corporation with the authority to amend the articles of the Corporation to provide for the consolidation of the Common Shares of the Corporation (the "Common Shares"), on the basis of one (1) new common share for every ten (10) Common Shares issued and outstanding (the "Consolidation").

If the Consolidation is approved by shareholders and subsequently implemented by the Board, the number of issued and outstanding Common Shares will be reduced from 284,821,107 Common Shares to 28,482,111 Common Shares. Furthermore, each stock option, warrant or other security of the Corporation convertible into pre-consolidation Common Shares (the "Convertible Securities") that has not been exercised or cancelled prior to the effective date of the implementation of the Consolidation will be adjusted pursuant to the terms thereof on the same exchange ratio described above and each holder of pre-consolidation Convertible Securities will become entitled to receive post-consolidation Common Shares pursuant to such adjusted terms.

Management of the Company believes that the consolidation of the Common Shares could enhance their marketability, among other things.

The Consolidation has been conditionally approved by the TSX Venture Exchange and a further press release will be issued in the event the Consolidation receives the approval of the shareholders.

Further details regarding the Consolidation are described in the Company's proxy materials available on

The Company is the 100% controlling shareholder of Montana Alberta Tie Ltd. ("MATL"), which is developing a 300 MW, 230kV transmission line to interconnect the electricity markets of Alberta and the US. Tonbridge is listed on the TSX Venture Exchange and trades under the symbol "TBZ".

Forward Looking Information
Certain information regarding the Company set forth in this document, including the closing of the offering, management's assessment of the Company's future plans and operations and use of proceeds contains forward-looking information that involves substantial known and unknown risks and uncertainties. This forward-looking information is subject to numerous risks and uncertainties, some of which are beyond the Company's and management's control, including but not limited to, the impact of general economic conditions, industry conditions, fluctuation of foreign exchange rates, environmental, construction, regulatory and financing risks, debt and cash requirements, industry competition and performance or achievement could differ materially from those expressed in, or implied by, this forward-looking information and, accordingly, no assurance can be given that any of the events anticipated to occur or transpire from the forward-looking information will provide any benefits.

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

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