nnounced today that it has entered into a definitive agreement to be acquired by Enbridge Inc. (TSX:ENB) (“Enbridge”) through a plan of arrangement for $0.54 per share in cash (the “Arrangement”), representing a premium of 116% to Tonbridge’s closing share price of $0.25 on August 8, 2011 and a premium of 74% to the 20-day volume weighted average trading price of $0.31 as of August 8, 2011. The Tonbridge shares were halted from trading at the request of Tonbridge before market open on August 9, 2011.  Pricing in respect of the Arrangement was based, in part, on management’s updated determination that at least US$50 million in additional funding is required to complete the construction of the Corporation’s Montana Alberta Tie Ltd. (“MATL”) transmission line project (the “MATL Project”). The agreement is subject to Tonbridge shareholder approval, regulatory approval and other closing conditions.

TORONTO, ONTARIO – Tonbridge Power Inc. (TSXV-TBZ) (“Tonbridge” or the “Corporation”), a

Tonbridge also announced that it has entered into a settlement agreement with its EPC contractor in respect of construction activities on the MATL Project.  The Corporation is in negotiations with a number of parties in order to effect a resumption of construction as quickly as possible with a view to meeting the Corporation’s goal of delivering an operating transmission line by mid-2012.

 “We are pleased to effect this transaction as it addresses both Tonbridge’s capital and project needs while at the same time giving our shareholders value for their investment. We look forward to completing the MATL Project and accelerating our development of future projects as a part of Enbridge,” said Robert van Beers, Tonbridge Chief Executive Officer.