Fortress International Group, Inc. Becomes TSS, Inc.
COLUMBIA, Md., June 7, 2013 /PRNewswire/ -- Fortress
International Group, Inc. (Other OTC: FIGI), a provider of
consulting and engineering, construction management, system
integration and site services for mission-critical facilities,
today announced that its stockholders have approved changing its
corporate name to TSS, Inc. Total Site Solutions, or more commonly
TSS, is the company's primary operating unit, and the company
anticipates strengthening its brand recognition by making TSS, Inc.
the name of the parent public company.
(Logo:
http://photos.prnewswire.com/prnh/20130607/CL28473LOGO)
The company will trade as "TSSI" on the OTCQB marketplace
when trading commences on Monday, June
10th, 2013.
Anthony Angelini, Chief Executive
Officer for TSS, Inc., states, "We are excited that our
stockholders have approved the name change and look forward to the
new market opportunities that continue to develop for TSS.
The consolidation and new presentation of the TSS brand will
accurately reflect our commitment to provide our clients with
integrated, end-to-end solutions."
The company also announced grants of inducement stock options to
purchase an aggregate of 604,000 shares of the company's common
stock to eleven employees who were hired by the company in
connection with the acquisition of the data center integration
services business announced on May 21,
2013. All of the company's independent directors approved
these grants, which were not made under any compensation plan
approved by the company's stockholders. The exercise price per
share for these stock options is equal to the average of the high
and low bid prices for the company's common stock reported daily on
the OTCQB marketplace during the 20 trading days following the
grant date. These stock options become exercisable in equal annual
installments on the first, second, and third anniversaries of the
grant date.
About TSS, Inc.
TSS is leading mission-critical facilities into a new era of
maximum uptime and efficiency. TSS provides consulting and
engineering, construction management, system integration and
24/7/365 site services for the world's most technology dependent
organizations. Serving as a trusted advisor, TSS delivers the
strategic guidance and pre-planning that makes every stage of the
critical facility lifecycle more efficient. TSS services include
facility and energy assessments of existing traditional data
centers, design, engineering and construction management for new
and expansion projects, deployment and post deployment services for
modular data center projects, systems integration and 24/7/365
operations and maintenance of client facilities that optimize
performance and reduce cost.
TSS is headquartered in Maryland, with offices throughout the U.S. For
more information, visit: www.totalsitesolutions.com or call
888-321-4877.
Forward Looking Statements
This press release may contain "forward-looking statements" --
that is, statements related to future -- not past -- events, plans,
and prospects. In this context, forward-looking statements may
address matters such as our expected future business and financial
performance, and often contain words such as "guidance," "expects,"
"anticipates," "intends," "plans," "believes," "seeks," "should,"
or "will." Forward-looking statements by their nature address
matters that are, to different degrees, uncertain. Particular
uncertainties that could adversely or positively affect the
Company's future results include: the Company's reliance on a
significant portion of its revenues from a limited number of
customers; risks relating to operating in a highly competitive
industry; actual or potential conflicts of interest between the
Company and members of the Company's senior management; risks
relating to rapid technological, structural, and competitive
changes affecting the industries the Company serves; the
uncertainty as to whether the Company can replace its backlog;
risks involved in properly managing complex projects; risks
relating the possible cancellation of customer contracts on short
notice; risks relating our ability to continue to implement our
strategy, including having sufficient financial resources to carry
out that strategy; risks relating to our ability to meet all of the
terms and conditions of our debt obligations; uncertainty related
to current economic conditions and the related impact on demand for
our services; and other risks and uncertainties disclosed in the
Company's filings with the Securities and Exchange Commission,
including the Annual Report on Form 10-K for the fiscal year ended
December 31, 2012. These
uncertainties may cause the Company's actual future results to be
materially different than those expressed in the Company's
forward-looking statements. The Company does not undertake to
update its forward-looking statements.
SOURCE Fortress International Group, Inc.