SOURCE: Triton Distribution Systems, Inc.
TIBURON, CA--(Marketwire - Jul 19, 2012) - Triton Distribution Systems, Inc. (PINKSHEETS: TTDZ) announced today that on July 18, 2012, Mr. Gregory Lykiardopoulos, Chairman and CEO of Triton Distribution Systems, Inc., entered into a share purchase agreement with APEX 4, Inc., a publicly reporting company, for the purchase of 10,000,000 shares of common stock of APEX 4, constituting 100% of the outstanding shares of APEX 4, from its sole shareholder.
Mr Lykiardopoulos had previously been appointed as a director of APEX 4. Following the purchase of the shares, Richard Chiang, the other director and sole officer of APEX 4, resigned from all positions with the Company.
Mr. Lykiardopoulos intends to transfer the 10,000,000 shares to Triton, which will make Triton the sole shareholder of APEX 4.
Mr. Lykiardopoulos also announced that he intends to change the name of APEX 4 to reflect the new business of the public company. Following this purchase APEX 4 will change its name to "Privileged World Travel Club."
Effective immediately Triton owns 100% of APEX 4 that will now be named "Privileged World Travel Club." Triton is also licensing its proprietary Travel Reservation System's technology: "Reservation Expert System™" (RES), to APEX 4/Privileged for an initial annual royalty of $2 Million. The license agreement is for an initial term of two years, and thereafter it will be renegotiated annually based upon customary performance clauses.
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.