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MATL's preference and continued focus remains the negotiation of mutually acceptable terms of access directly with the landowners along its line route. However, in the event that this is not achieved, immediate access to the applicable land and the appropriate compensation to be paid to the landowner for the rights granted, and the impacts associated with the construction and operation of the international transmission line, would then be determined by the SRB in accordance with its governing legislation.
This Order in Council provides certainty to MATL in gaining timely access to the approved right-of-way and provides prompt recourse to the SRB for the landowner as well. The SRB exercises its mandate under authority of the 1972 Surface Rights Act and its process is well-understood given that the board has ruled on numerous utility pipeline and transmission line access and compensation issues within Alberta.
In response to this development Johan van't Hof, CEO, Tonbridge Power, remarked, "This is an important and positive development in the completion of MATL's regulatory progress. We appreciate the support of the Government of Alberta in providing a proven path to resolving landowner issues using trusted mechanisms. Our strong preference though, continues to be developing trusted relationships with landowners through negotiated arrangements."
Should you wish to receive news on Tonbridge via email, please email info@tonbridgepower.com and specify "company news".
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information", within the meaning of applicable Canadian securities legislation, concerning the business, operations and financial performance and condition of the Company. Forward-looking information includes, but is not limited to, statements with respect to financing arrangements and related matters. Generally, this forward-looking information can be identified by the use of forward-looking terminology such as "proposed", "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "should", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks related to the financing or construction of the transmission line and the substation; risks related to the performance of parties contracting for transmission capacity; delays in obtaining governmental approvals, permits or project financing or in the completion of development or construction activities, requirements for additional capital, government regulation, environmental risks as well as those factors discussed in the section entitled "Risk Factors" in the Company's Annual Information Form dated March 31, 2008 for the year ended December 31, 2007, available on www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information that is included herein, except in accordance with applicable securities laws.
SOURCE: Tonbridge Power Inc.
Tonbridge Power Inc. Johan van't Hof Chief Executive Officer (416) 850-2150 Email: jvanthof@tonbridgecorp.com Tonbridge Power Inc. Robert van Beers Chief Operating Officer (416) 850-2150 Email: rvanbeers@tonbridgecorp.com Website: www.tonbridgepower.com Brisco Capital Partners Corp. Graeme A. Dick Investor Relations (403) 313-9663 Email: graeme@briscocapital.com
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