"We are pleased that some of our creditors have agreed to convert their debt into our common stock at a premium to the current market value of our shares," commented Rock Rutherford, the President and CEO of AGR. "The creditors converting their debt are also shareholders, and this demonstrates their commitment to our company and will allow us to substantially reduce the current liabilities on our balance sheet. As a result of the debt settlement, we are well-positioned to complete the private offering we are currently working on and to continue to grow our business."
The shares to be issued in connection with the debt conversion and private offering have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws and, unless so registered, may not be offered or sold in
This announcement shall not constitute an offer to sell or the solicitation of an offer to buy the shares nor shall there be any sale of the shares in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act.
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
More information on AGR and AGR USA 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.