SOURCE: Triton Distribution Systems, Inc.

Triton Distribution Systems, Inc.

March 11, 2011 08:00 ET

Triton Concludes Joint Venture Contracts and Secures Funding Commitment for the Nevada Project With Universal Holdings

TIBURON, CA--(Marketwire - March 11, 2011) - Following yesterday's press release -- Triton's (PINKSHEETS: TTDZ) Management is proud to announce that the company concluded all contracts for the Joint Venture. All documents have been signed and recorded with the Nevada proper authorities. The documentation included the following:

1. LLC Agreement. 2. Organizational Consent. 3. Management Services Agreement. 4. First Amendment to Agreement. 5. Bank Account Board Resolution. 6. Assignment of Mine "A" Lease. 7. Mine "A" Lease. 8. Mine "B" Lease. 9. Recording of 14 Claims of Mine "A" with the BLM. 10. Recording of 4 Claims of Mine "B" with the BLM. 11. Sample Test of Minerals. 12. Budgets for both Mines. Pursuant to this list, Management is making public samples of the documents stated.

It is with great pleasure to also announce to all shareholders that Universal Holdings' Board of Directors has accepted to invest in the Triton Joint Venture. Universal Holdings will become an active participant and a substantial shareholder in Triton and the Joint Venture. In the following 2 weeks, attorneys from both sides will draft and present to both parties shareholders subscription agreements and all security documentation needed. General details of the investment will be made public at a later date.

Due to the above mentioned excellent news, Management anticipates to release additional news in the forthcoming week and beyond.

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