TX Holdings hires investment bank for potential private placement

By Sheri Kasprzak

New York, May 11 - TX Holdings, Inc. said it has retained investment bank Brill Securities, Inc. for a potential private placement.

Brill, according to a statement released by TX Thursday morning, will act as financial advisors for the proposed PIPE.

The terms of the offering have not yet been determined.

"This agreement represents a major development for TX Holdings as we move forward with our strategy of acquiring lease and purchase options on properties with proven reserves and current production," said Mark Neuhaus, the company's chairman, in the news release.

"Now that we have a team of experienced oil and gas investment bankers, I am confident that TX Holdings is positioned for future growth with a well-respected and experienced firm."

Based in Miami Beach, Fla., TX Holdings is an oil and natural gas exploration, development and production company focused on properties in Texas, Louisiana and Oklahoma.

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