Shares of AGR Tools Inc. (PINK: AGRT), a company engaged in the development, acquisition and exploration of oil and gas resources vital to the world’s health and welfare, are climbing in trading today.
At last check, AGRT shares were trading 18.75% higher at $0.0950 on above average volume of 2.64 million. The stock gained 27.86% in the last three trading sessions.
AGR Tools shares are soaring after the company announced that its wholly-owned subsidiary, AGR Energy Holding Inc., signed an agreement to acquire a 300 acre oil and gas lease in Navarro County, Texas from Corsicana Oil LLC.
As per the terms of the agreement, AGRT would acquire 100% ownership in the project by paying $100,000 at closing, and up to $200,000 out of revenue produced by the project.
CEO Vern Wilson said that it has always been one of AGRT’s core principles to focus efforts in Texas as the company has strong ties and knowledge within the region.
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