EXHIBIT 99.1
Abilene, Texas--(Business Wire)-- TX Holdings, Inc. (PINK SHEETS: TXHG-NEWS) has
received a $7,500.000 letter of commitment from its investment banker, the Baron
Group, Ltd.
According to the terms of the agreement, the Baron Group has already begun its
efforts to raise short-term bridge financing of up to $500,000 plus $2,000,000
equity financing. These financings will be priced on a structure agreed to by TX
Holdings and the investor(s). In addition, the Baron Group has already started
working with its lenders to facilitate a $5,000,000 energy loan based on the
company's reserves. All financing is to be done on a best effort basis.
The Company first announced its investment and merchant banking relationship
with the Baron Group on November 20, 2006.
