TIBURON, CA--(Marketwired - Jan 16, 2014) - Triton Distribution Systems, Inc. (OTC Pink: TTDZ) announced today that it has received a Letter of Intent from a third party that wishes to purchase for an undisclosed amount, selected assets of the company, which include all controlling shares for Triton Distribution Systems currently being held by Mr. Gregory Lykiardopoulos, the company's CEO. At closing, all of the Company's liabilities and assets will be held by a newly formed company that will be owned by Privileged World Travel Club, Inc., which is a subsidiary of Triton Distribution Systems, Inc.
Currently, both parties are working on meeting all conditions and requirements to complete the closing of this transaction. Simultaneously, Triton would like to inform its shareholders and the public that it is in the process of bringing the company status back to "Current." As indicated above as of the date of the Closing (the "Closing Date"), Triton shall have sold, assigned, or otherwise disbursed its assets, and all of its liabilities to a newly formed company that will be owned by Privileged World Travel Club, Inc.
Additional information and updates will be made public in the near future.
ABOUT TRITON DISTRIBUTION SYSTEMS, INC. www.tritonds.com
Triton is a low-cost, business to business internet based travel distribution and procurement solution. Triton provides the electronic distribution of travel inventory from airlines, car rental companies, hotels, tour & cruise operators and other travel vendors to global travel agencies and their clients.
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. Triton disclaims any obligation or intention to update any forward-looking statement.