SOURCE: Triton Distribution Systems, Inc.
TIBURON, CA--(Marketwire - Jun 27, 2012) - Triton Distribution Systems, Inc. (PINKSHEETS: TTDZ) announced today that its wholly owned subsidiary, "Privileged, Inc.," is in negotiations to acquire the controlling interest in a publicly trading company on the OTC Markets Exchange. Privileged, Inc., is planning and is arranging to merge with the public company following the acquisition.
Triton and Privileged have agreed to commemorate this event by offering to all Triton's shareholders a one-year, Imperatorial level Membership in Privileged Travel Club free of charge, valued at $150.00 per person annually, in appreciation for their long-time support of Triton. All shareholders of record as of July 16, 2012, will be eligible to receive this bonus. Additional information will be provided to shareholders about the Travel Club Membership and this offer in the very near future.
Triton owns 100% of Privileged, Inc. and will also license its proprietary Travel Reservation System's technology: "Reservation Expert System™" (RES), to Privileged, Inc. for an initial annual royalty of $2 Million. The license agreement will be 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.