SOURCE: Triton Distribution Systems, Inc.
TIBURON, CA--(Marketwired - Jan 23, 2014) - Triton Distribution Systems, Inc. (OTC Pink: TTDZ), announced today that it has reached an agreement with a group of investors from Los Angeles, California headed by Mr. David Osegueda, a previously successful business man. The group is forming a new California Company that will assume the submitted letter of intent to Triton, and the commitment to purchase the Triton shell.
Mr. Osegueda and his investors group, will invest an initial $65,000 in Triton in return for the following:
a) The Triton Shell.
b) 450,000,000 shares of Triton.
c) 4,062,500 Shares of Privileged World Travel Club, Inc. (PVCL), priced at $1 a share, and disbursed to all the Triton shareholders as a dividend.
Triton shall file the 3rd quarter 2013 (Ending September 30, 2013) financial reports next week, reflecting all the details of the takeover agreement by Mr. Osegueda and his investors group and bring Triton current on the OTC Markets website.
Additionally Triton will allocate in reserve 740,000,000 shares priced at $0.00405 per share for an additional investment of $3 Million that will be invested in Triton, by an offshore investor for Operating Capital.
It is mutually agreed by Mr. Osegueda and his investors group and the management of Triton that the final, Closing Date of the takeover by the new California Company will be at the end of January 2014.
Meanwhile Gregory Lykiardopoulos Chairman and CEO of Triton shall surrender the following at the closing:
a) One (1) share of restricted Series A Preferred;
b) One Million (1,000,000) shares of restricted Series B Preferred Stock of Triton;
c) Eight Million (8,000,000) shares of restricted Series F Preferred Stock of Triton; and
d) Three Hundred Five Million (305,000,000) shares of restricted Common Stock of Triton.
Also at the Closing Date, Triton shall have sold, assigned, or otherwise disbursed its assets, and all of its liabilities to a different newly formed company that will be owned by Privileged World Travel Club, Inc.
Further information and updates will be made public in the very 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.