SOURCE: Triton Distribution Systems, Inc.

Triton Distribution Systems, Inc.

January 18, 2011 08:00 ET

"AGT" is Now a Wholly Owned Subsidiary of Triton Distribution Systems, Inc.

TIBURON, CA--(Marketwire - January 18, 2011) - Triton's (PINKSHEETS: TTDZ) management is pleased to announce the highly anticipated purchase of 51% of the outstanding equity of Advanced Gold Technology ("AGT"). On Friday January 14, 2011, Triton, AGT and Universal Holdings executed final purchase agreements and exchanged instructions for issuance of stock certificates to each company. "We are very excited to be in this partnership with Triton and Universal. We have planned a very ambitious and achievable business plan that we feel we can be successful executing, now that we have the management and guidance of Triton and the backing of Universal," said Edward Rubenstein, AGT's Chief Executive Officer.

In addition to the expertise in the mining industry, AGT brings sizable relationships in equipment manufacturing for mining and established functioning producing mines in the Russian Federation. AGT's contract with "ITOMAK" from Novosibirsk, Russia, allows AGT the opportunity to establish exclusive manufacturing of mining equipment in the United States for International sales all over the world. "For the first time ever this technology will be available for manufacturing in the United States," said Gregory Yudashkin, Chief Engineer and President of AGT USA.

Based on the 51% equity purchase of AGT, Triton is preparing to file initially the end of the year 2010 financial reports as well as work to upgrade the company to the OTC Bulletin Board and file the adjusted financial reports that will specify the AGT ownership and the preceding ownership of AGT in OJSC Berezovskoe mines in Russia.

It is estimated that in the next 5 years the 3 mines owned by Berezovskoe can produce 408,784 ounces of gold valued at a total price of $572,297,600 on the International gold market. Of that amount $280,425,824 will be credited to AGT and further $143,017,170 will be credited to Triton and be recorded on its balance sheet.

Triton's Board of Directors have also decided to plan for future recognition of Triton with a new corporate Name and Brand to reflect the progress into multiple areas and future growth. "While not moving away from our ability to use and produce always new technology in software that will continue to grow over the coming years we would like to re-brand our company to move into multiple beneficial areas for our shareholders. The new name and branding is being worked on at this time and is expected to be rolled out in the coming month in a future press release," said Gregory E. Lykiardopoulos, Chief Executive Officer of Triton Distribution Systems, Inc.

FORWARD-LOOKING STATEMENTS This news release includes forward-looking statements. While these statements are made to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. The company's operations and business prospects are always subject to risk and uncertainties.

Contact Information

  • Contact
    Triton Distribution Systems, Inc.
    Gregory Lykiardopoulos
    CEO
    415-381-4806