CONROE, TX, Jan. 28 /PRNewswire-FirstCall/ - AGR Tools, Inc. is pleased to announce that AGR Stone & Tools USA, Inc., with which AGR Tools, Inc. has entered into a binding share exchange agreement, is scheduled to be featured on CEO Clips airing on CBC News Network (formerly CBC Newsworld). CEO Clips is a series of short corporate profiles on North American companies that will feature AGR Stone & Tools USA, Inc. on CBC News Network during the weeks of February 1 and February 8, 2010. The company's profile will also be posted on Yahoo Finance Canada, www.stockhouse.ca, MSN Finance and www.ceoclips.ca, as well as www.agrtools.com.
AGR Stone & Tools USA, Inc.'s profile was also recently featured on the Business News Network, Business Television and the FOX Business News Network. This exposure resulted in an influx of inquiries from a number of potential distributors and retailers, and the company is currently in negotiations with several of these.
As the only major manufacturer of diamond tools that markets and distributes its' products directly to their customers, AGR Stone & Tools USA, Inc. has a major advantage over its' competition. By selling directly, it plans to control a quarter of the approximately $8 billion North American diamond tool market. "The recent appearance of our corporate profile on a number of television networks has generated a great deal of exposure for AGR, and we hope to maintain our momentum by capitalizing on the CBC News Network's broadcasting reach," noted Rock Rutherford, the CEO of AGR Stone & Tools USA, Inc. "Our goal is to capture 25% of the North American diamond tool market, and we would like to achieve this by expanding our business further into Canada."
About AGR Stone & Tools USA, Inc. ---------------------------------
AGR Stone & Tools USA, Inc. is a major supplier of diamond tools and adhesives. It specializes in producing consumable tools for the natural stone, engineered stone, concrete and masonry industries, and its goal is to provide its clients with superior quality products, excellent customer service and the most competitive prices in the diamond tool industry. The company has completed extensive research and testing, and uses the latest technologies to assure it is at the forefront of the diamond tool industry. The company also employs some of the world's top scientists, engineers and metallurgists to produce the highest quality diamond tools for the construction industry.
On October 29, 2009, AGR Tools, Inc. and AGR Stone & Tools USA, Inc. entered into a binding share exchange agreement. See AGR Tools, Inc.'s November 2, 2009 Current Report on Form 8-K regarding the share exchange agreement with AGR Stone & Tools USA, Inc. for details on various conditions which must be met before the share exchange between the two companies closes. There can be no assurance that the share exchange will close. AGR Tools, Inc. must issue 46,186,516 shares of its common stock to the current shareholders of AGR Stone & Tools USA, Inc. in order to complete the share exchange. Accounting for the anticipated cancellation of 25,000,000 shares of its common stock, upon the closing of the share exchange AGR Tools, Inc. will have 81,186,516 shares of common stock issued and outstanding.
More information on AGR Stone & Tools USA, Inc. can be found at: www.agrtools.com
Forward-Looking Statements: ---------------------------
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties. See AGR Tools, Inc.'s filings with the United States Securities and Exchange Commission which may identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.
SOURCE AGR Tools Inc.