AUSTIN, TX, May 21 /PRNewswire-FirstCall/ -- AGR Tools, Inc. is pleased to announce that it has finalized all the corporate documentation necessary to complete its acquisition of AGR Stone & Tools USA, Inc. ("AGR USA"). Pursuant to the share exchange agreement between the companies dated October 29, 2009, AGR Tools has adopted corporate resolutions to issue 46,186,516 shares of its common stock to the shareholders of AGR USA, and AGR USA will become its wholly owned subsidiary effective May 25, 2010. Twenty-five million shares of the Company's common stock held by a former officer have been surrendered for cancellation.
The public company will continue to trade under the symbol AGRT and operate as AGR Tools, Inc. Its wholly owned subsidiary will continue to operate under the name AGR Stone & Tools USA, Inc.
"We are excited that the going public process has been completed successfully," stated Rock Rutherford, the President and CEO of both AGR Tools and AGR USA. "We are looking forward to developing the business of AGR USA as a public company. As management, we can only feel proud of the efforts of our team in helping this come to fruition."
About AGR Tools, Inc. ---------------------
AGR Tools, Inc. is a public company with its common stock quoted on the OTC Bulletin Board under the symbol AGRT and the Berlin and Stuttgart Stock Exchanges under the symbol LVSA.
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.
More information on AGR Stone & Tools USA, Inc. can be found at: http://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.
AGR Tools Inc.
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