WINNETKA, Calif., March 29, 2014 /PRNewswire/ -- Management of
Green Cures Inc. ("Green Cures") and Triton Distribution Systems,
Inc. (OTC Pink: TTDZ) ("Triton") announced today that following the
closing of the acquisition transaction by Green Cures for
controlling interest in Triton, Green Cures is proceeding with
restructuring of Triton Company with intent to focus on obtaining a
name and ticker symbol change; the cancellation of approximately
300 million common shares owned by Green Cures Inc.; and beginning
the process of acquiring assets (including intellectual property
and products) into the Company.
Management of Green Cures believes a new name and trading symbol
for the Company will help the market to identify the business focus
of the Company following the restructuring and reorganization. The
name of the Company is to be legally changed to "Green Cures and
Botanical Distribution, Inc." Triton's new management and
Green Cures interim CEO Julio
Cubillas, together with their legal counsel, will take the
necessary and required steps to effect the name change, which will
include required filings with FINRA and the State of Colorado. Management anticipates name
change processing time to take approximately 15 days and expects
the Company to receive the new ticker trading symbol associated
with the name change at the same time. Management will make
additional announcements relating to progress of name change and
symbol information as it becomes available.
Triton and Green Cures also announced that Triton plans to
acquire certain assets, including rights to domain names, certain
trademarks with pending registrations and intellectual property,
and certain existing products, which will be used in Triton's
business. The assets to be acquired include AllBotanical.com,
AllCannabis.com, FutureMarijuana.com, CBDoil.us, and
CBDcolorado.com, as well as exclusive licensing rights to all Green
Magic and Green Cures products from Green Cures Inc., in order to
enable the Company to move quickly with business operations
following the restructuring plan completion. Management believes
that acquiring these assets will enable the Company to begin
commercial operations and implement its business plan, while
offering initial products, allowing the Company to move forward
more quickly in this fast-paced industry.
As announced previously in connection with the acquisition
transaction, Green Cures Inc. has agreed to the cancellation of 300
million outstanding shares of the Company's common stock which were
acquired by Green Cures in connection with the acquisition
transaction. Green Cures will work with Triton's management and
transfer agent to finalize the cancellation of the 300 million
common shares as quickly as possible.
In connection with the restructuring, Triton's Transfer Agent
has provided records of Triton's share structure, to Triton's and
Green Cures Management and their professional advisors. According
to the information provided by the Transfer Agent, the number of
shares currently issued and outstanding (prior to cancellation
of the 300 Million shares) is 1,933,695,597 shares of common
stock, which is higher than what had previously been disclosed in
Triton's public reports and to Green Cures.
In response to this higher outstanding share number, and in an
effort to maintain complete transparency, Green Cures management
and Triton are informing the investment community that it does not
plan to conduct a reverse stock split as part of the Company's
restructuring.
Instead, Triton and Green Cures management have decided to
increase the number of Triton's authorized shares by 500 million,
for a total of 2,500,000,00 authorized shares. Management believes
it is crucial to have, in reserve, a minimum of 740 million shares
(following an increase in the authorized capital and the
cancellation of the 300 million shares) in order to provide the
Company flexibility for future potential capital raising
transactions that may be needed for the Company's upcoming
projects.
For example, Green Cures Inc. has recently submitted trademark
applications for the trademark "CBD Centers," under Class Codes 035
(online retail store and retail store services) and 044
(alternative medicine services) with the United States Patent and
Trademark Office. It is important to note that the trademarks for
"CBD Centers," and rights pertaining to the project and future
operations, will be transferred to Triton by Green Cures.
Additionally, Triton's management
anticipates that the website Allbotanical.com will initially
feature a total of 10 products, ready-to-ship, from the Green Magic
line, along with additional products from other distributors. The
Company intends to offer Green Magic Products to the public with an
active Liability, and Packagers Protection Policy; therefore, the
launching of Allbotanical.com is rescheduled for an expected date
of April 14, 2014.
The Company is also providing an update on the previously
announced distribution of the shares of common stock of another
publicly traded company, Privileged World Travel Club, Inc., to
Stockholders of the Company. Management is working to determine the
best time and methods to make such a distribution, while balancing
factors involved, including the costs and time required for
undertaking such a distribution transaction, the performance of
Privileged World Travel Club in the market and more. The Management
would like to provide an expression of gratitude for the support of
Triton Distribution Systems, Inc. Stockholders and will continue to
provide updated information relating to the distribution of these
shares in the near future.
Finally, in closing, the Company would like to inform the
Company's Stockholders that all Executives and Officers who will
work with the Company for the development of business operations
within the medical cannabis and botanical industry are expected to
assume positions on or before April 1,
2014; with public announcements to advise of Executives and
Officers of the Team anticipated on, or before, April 2, 2014.
About Green Cures Inc.: www.greencuresinc.com
Green Cures Inc. operates a diverse portfolio of services and
products within the medical marijuana and botanical industry, as
permitted by law. In this rapidly growing industry of alternative
care products, from production, distribution and management, Green
Cures Inc. also provides online community portals that supply the
public with information and resources regarding the benefits of
cannabis-derived products.
FDA Statement
The statements contained in this document have not been evaluated
or approved by the FDA. The products and statements referenced in
this document are not intended to diagnose, treat, cure, or prevent
any disease.
Forward-looking statement
This press release may contain certain forward-looking statements
and information, as defined within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, and is subject to the Safe Harbor created by
those sections. This material contains statements about expected
future events and/or financial results that are forward-looking in
nature and subject to risks and uncertainties. Forward-looking
statements are identified by wording such as "scheduled (future
sense)" "intend(s)", "plan(s)" "expect(s)", "believe(s)" "will"
"estimate(s)", "forecast", "anticipate(s)", "expect(s)", "may",
"should", "goal", "target", "aim", "may", "would", "could" or
"should" or, in each case, the negative thereof, other variations
thereon, comparable terminology or wording/graphical information
that implies anticipated future results or deliverables.
Investors are cautioned that such forward-looking statements
involve risks and uncertainties, including, without limitation,
progress of products development, acceptance of products, increased
levels of competition, new products and technological changes,
dependence upon third-party suppliers, and intellectual property
rights. You are cautioned not to place any undue reliance on
any forward-looking statement, and Triton expressly disclaims any obligation or
intention to update any forward-looking statement.
SOURCE Triton Distribution Systems, Inc.