Triton Distribution Systems, Inc. Expands Its Operations
February 07 2011 - 8:00AM
Marketwired
(PINKSHEETS: TTDZ) Triton's Management wishes to inform all
shareholders that the company has secured the takeover of a gold
mine assets operation in Nevada, USA for an undisclosed amount. The
contract will be signed by the end of this week or sooner and will
be made public. The length of the contract will be 5 years. The
Mine has an aggregate mine field of 16 acres. Per an independent
technical consulting report, it has been confirmed that the
exploration activity at the mine is currently at the exploitation
and production stage. The report supports that the initial
operation will start with 2,000 tons of tailings situated on the
ground surface of the mine and can produce an average grade of 3
ounces per ton. This equals approximately $ 8 Million Dollars,
which can be immediately extracted. Additionally, there is
approximately an additional output of more than 200,000 tons of
ores that is estimated to generate $780 Million Dollars to all
companies involved in this project. The full operation will be
fully controlled by Triton. Triton will be responsible to establish
the financing of the operation, mining teams, equipment, Security
Company to protect the extraction of the gold, and the sale of the
gold. The company also wishes to notify the shareholders that its
Chinese partners are processing next week the initial agreed upon
investment in Triton to support Triton's operations, secured by
5,000,000 free trading Common Shares.
Triton is declaring that regarding the business relationship
with AGT, the Company has made public all the documentation signed
between the 2 companies. None of the agreements are demonstrating
that Triton owes any financing to AGT or its officers. The entire
deal was established on exchanging stock between the 2 companies.
Any financing was to be invested by Triton's Chinese partners
secured by Triton's Common Shares. This financing was intended to
establish mining operations in the USA.
The Company will not speculate what happened between the 2
companies. Presently Triton is conducting a very thorough
investigation. Therefore management is not prepared to announce any
results on the matter.
Consequently Triton is continuing to pursue the implementation
of its business plan that was previously announced.
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 Triton Distribution Systems, Inc. Gregory
Lykiardopoulos CEO 415-381-4806
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