We study F-theory on elliptic Calatbi-Yau three-folds near colliding s
ingularities. We demonstrate that resolutions of those singularities g
enerically correspond to transitions to phases characterized by new te
nsor multiplets and enhanced gauge symmetry, These are governed by the
dynamics of tensionless strings. We also find new transition points w
hich are associated with several small instantons simultaneously shrin
king to zero size. (C) 1997 Elsevier Science B.V.