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Press Release Source: Triton Distribution Systems, Inc. On Thursday February 17, 2011, 8:00 am
TIBURON, CA--(Marketwire - 02/17/11) - Triton's (Pinksheets:TTDZ - News) Management proudly announces today the signing of a definitive and binding Joint Venture and Strategic Alliance agreement with GEO, Inc. of Nevada.
There are a multitude of additional agreements that are going to be signed following this announcement and the formation of the Incorporation of the Joint Venture. Additionally there will be a need to establish the necessary teams to start operations on the acquired mine.
Triton will own 50% equity of the Joint Venture and the right to appoint majority management personnel to manage the Joint Venture for an initial investment of US $2.7 Million. This investment is agreed and accepted by Universal Holdings of Beijing, China, and it is expected to be transferred to the Joint Venture immediately.
This agreement contains several addendums that are not available publicly due to confidentiality and security reasons. It is absolutely imperative that sensitive information remains confidential for the safety and well being of the operating officers of each company.
"We are delighted and enthusiastic to participate as investors in this Joint Venture project with Triton and GEO and we are ready to act swiftly and rapidly to meet all the necessary financing needed to make this operation very successful. We trust and know Mr. Lykiardopoulos very well for many years and we have had previously several successful business dealings with him," said William Chan, Vice President of Business Development for Universal Holdings.
It is estimated that this project will generate upwards of US $800 Million to all companies involved, for several years to come.
Management wishes to thank all the shareholders that have contacted the company and complained about the negative messages circulating on the message boards. We respectfully advise them to pay no attention to these negative messages and those that are spreading them. Triton's management is very much focused on the project at hand and making the company successful.
Due to the sensitivity of the confidential information included in the agreement that needs approval by all parties, Triton is unable to release publicly the agreement prior to obtaining consent from all parties involved.
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.
