CONROE, TX, Jan. 14 /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 the Biography Channel. CEO Clips is a series of short corporate profiles on North American companies that will feature AGR Stone & Tools USA, Inc. beginning on January 18, 2010 throughout the days and evenings. The profile will also be posted on Yahoo Finance Canada, www.stockhouse.com, MSN Money and www.ceoclips.com, as well as www.agrtools.com.
AGR Stone & Tools USA, Inc. was also recently featured on Business Television, or BTV. Its profile on BTV 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 potential dealers.
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. "We are satisfied with the progress of our expansion and feel that our appearance on CEO Clips on the Biography Channel will increase our market exposure," stated Rock Rutherford, the CEO of AGR Stone & Tools USA, Inc. "We expect the profile to raise the level of interest in our company and bring us closer to realizing our goal of capturing 25% of the diamond tool market."
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. 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 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 Current Report on Form 8-K filed on November 2, 2009 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.