SOURCE: Triton Distribution Systems, Inc.

Triton Distribution Systems, Inc.

July 11, 2011 08:00 ET

Triton and Universal Holdings Establish Closing Facility for Previously Agreed Loan Investment

TIBURON, CA--(Marketwire - Jul 11, 2011) - Triton (PINKSHEETS: TTDZ) and Universal Holdings of Beijing announce today the establishment of an escrow account with a Hong Kong bank for the closing of the previously agreed loan investment of $3.2 Million.

Triton will place in the escrow account all the documentation and loan agreements required for both parties, and Universal Holdings will place in the escrow the total amount of $3.2 Million, which was agreed and accepted by both parties together with instructions to be released upon completion of all documentation required.

Escrow will close on August 10, 2011 at 10 a.m. Hong Kong time. Once the escrow account is closed, all funds will be wire transferred to the respective partners.

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