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Microcap & Penny Stocks : TSIG.com TIGI (formerly TSIG) -- Ignore unavailable to you. Want to Upgrade?

To: Suzanne Newsome who wrote (39880)	3/2/2000 5:08:00 PM
From: Ditchdigger	Read Replies (1) \| Respond to of 44908

OH NO MR BILL...who would have thunk it--lets hear you folks put the spin on this one...DD ST. PETERSBURG, Fla.--(BUSINESS WIRE)--Feb. 29, 2000-- TeleServices Internet Group Inc. (OTCBB:TSIG - news), known as TSIG.com, today announced that it has entered into a letter agreement engaging a prominent New York based investment banking firm as its exclusive agent for a private placement financing of up to $40 million. Most likely floorless SEC rules prohibit the company from identifying the investment banking firm. It is contemplated that the proposed private placement would be for a common stock equity line of credit. The securities will not be registered under the Securities Act and may not be offered or sold absent a registration or an applicable exemption from registration, but the investors would have registration rights. Other terms of the offering are unknown at this time. The bank has advised TSIG.com that before this financing can be completed, the company must restructure its existing capitalization by reducing the number of shares of common stock outstanding.(REVERSE SPLIT) The company plans a shareholder meeting on March 27, 2000, to consider such restructuring.