GridSense Completes Transfer of Assets and Sale of Control

GridSense Systems Inc. ("GridSense" or the "Company") (TSX VENTURE:GSN)
announced today that it has completed a transaction, previously announced on
October 17, 2008, involving the transfer of all of the shares in its operating
subsidiaries, CHK GridSense Pty. Ltd. (Australia) and GridSense Inc.
(California) (together, the "Subsidiaries"), to GridSense Proprietary Limited
("GPL"), a private entity owned by certain management and other significant
shareholders (the "Management Shareholders") of the Company. In consideration
for the shares of the Subsidiaries, GPL assumed all of the liabilities of the
Company. Closing of the transaction was effective June 15, 2009.


Concurrent with the transfer of the shares of the Subsidiaries, the Management
Shareholders sold their stake in the Company, being approximately 51.9% of the
Company's issued and outstanding shares, to a newly incorporated British
Columbia entity ("Newco") and its nominees.


With the completion of the asset transfer, the shareholder group represented by
Newco proposes to cause the Company to effect the up to 10 (old) for 1 (new)
share consolidation, and the change of the Company's name to "Joss Ventures
Inc." or such other name as may be approved by the directors of the Company in
their sole discretion and is acceptable to the applicable regulatory
authorities, both of which were approved at the special meeting of shareholders
of the Company held on February 19, 2009. A 10 for 1 share consolidation would
result in the number of issued and outstanding shares of the Company being
reduced from 67,098,671 common shares without par value to 6,709,867 common
shares without par value. The share consolidation is subject to TSX Venture
Exchange approval.