Tonbridge Issues Common Shares to Directors under Plan Approved by Shareholders as Approved by the TSX Venture Exchange
August 27 2010 - 7:46PM
PR Newswire (Canada)
TORONTO, Aug. 27 /CNW/ -- TORONTO, Aug. 27 /CNW/ - Tonbridge Power
Inc. ("Tonbridge") listed on the TSX Venture Exchange as TBZ,
controlling shareholder of the Montana Alberta Tie Ltd. ("MATL")
transmission line project to interconnect the electricity markets
of Alberta and the US through a 300 MW transmission line, announces
that it has issued common shares to 8 directors and 1 advisor to
the Board ("Directors") of Tonbridge as payment for Directors' fees
earned between July 1, 2009 and June 30, 2010. On August 19, 2010,
Tonbridge announced intent to issue shares as compensation to the
directors for fees earned during the last twelve months. On August
25, 2010, Tonbridge received approval from the TSX Venture Exchange
to issue 119,049 shares, calculated at $2.07 per share. These
shares were issued to extinguish an amount owing of $246,431.43.
Securities have been issued with a hold period expiring on December
27, 2010. Tonbridge Power Inc. is a Toronto-based investor in power
projects, whose principal asset is a controlling interest in
Montana Alberta Tie Ltd. Shares of Tonbridge became publicly listed
on the TSX Venture Exchange on July 7, 2005 and are traded under
the symbol "TBZ". Should you wish to receive company news via email
please email info@tonbridgepower.com and specify "company news".
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
%SEDAR: 00020056E Tonbridge Power Inc., Johan van't Hof, Chief
Executive Officer, Tel: (416) 850-2150, Email:
jvanthof@tonbridgepower.com; Or Tonbridge Power Inc., Robert
McFarlane, Chief Business Officer, Tel: (416) 850-2150, Email:
rmcfarlane@tonbridgepower.com; Or Investor Relations: Brisco
Capital Partners Corp., Graeme A. Dick, Tel: (403) 561-8989, Email:
graeme@briscocapital.com
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