Engagement of Auditor

Jan 05, 2010, 16:15 ET from AGR Tools Inc.

OTCBB: AGRT

CONROE, TX, Jan. 5 /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, engaged the services of Texas based M&K CPAs, PLLC for the auditing of the company's financial statements. One of the conditions to the closing of the share exchange agreement between AGR Tools, Inc. and AGR Stone & Tools USA, Inc. is that AGR Stone & Tools USA, Inc. provides audited financial statements for its last two years of operations. M&K CPAs, PLLC have been chosen to do the audit work and have begun their engagement.

The company anticipates that shortly after the audit of the financial statements has been completed, the share exchange transaction with AGR Stone & Tools USA, Inc. will close.

    About M&K, CPAs, PLLC
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M&K CPAS, PLLC, is a full service certified public accounting firm focused on serving the audit and financial reporting needs of growing micro and small-cap publicly traded companies. They serve a wide range of privately held companies as well. The firm is supported by responsive partners and staff focused on serving audit and financial reporting needs with the highest levels of integrity and independence while providing the personalized attention clients expect. M&K partners have extensive experience with the financial reporting requirements of federal securities laws, the Sarbanes-Oxley Act of 2002, the Public Company Accounting Oversight Board and generally accepted auditing standards.

    About AGR Stone & Tools USA, Inc.
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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 AGR Tools 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 new 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:
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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.