AG Acquisition Group Signs Merger Agreement with Global Technology Resources

11/2/17

AG Acquisition Group, Inc. announced today that, on October 23, 2017, it signed a definitive Merger Agreement with Global Technology Resources, Inc., a 19-year old technology consulting firm focused in the hybrid IT infrastructure and application-delivery space, and all of the shareholders of GTRI. Pursuant to the Merger Agreement, GTRI will merge with and into AG-GT Merger Sub, Inc., a newly created wholly owned subsidiary of AGAG, with GTRI surviving and being a wholly owned subsidiary of AGAG. AGAG was assisted in the negotiation and execution of the Merger Agreement by National Community Development Fund I, LLC, an impact investment fund located in Denver, Colorado.

AGAG is currently a special-purpose acquisition company created to identify a business that would merge into its public reporting structure, but, following the closing of the transaction will be the parent holding company of GTRI. At the closing of the Merger, AGAG expects to name a new Chief Executive Officer and Chief Financial Officer, among other persons, to oversee the strategy and operational execution of the business, and also expects that John Vasquez, Chief Executive Officer of NCDF, and certain other executives of GTRI, will be named to the Board of Directors of AGAG.

Said Mr. Vasquez: "This investment is a significant step in advancing GTRI's model of coupling qualified C-suite management with our investment experience and AGAG's merger and acquisition plan. We were pleased with the common goals and the focus on impact investing by our management team and how those goals and activities fit with AGAG's plans and investment targets for unlocking hidden value."

Glenn Smith, President and co-founder of GTRI, stated: "We are very excited to partner with NCDF for our long-term capital and growth strategies. Not only will we be able to accelerate the build-out of hybrid IT practices and offerings, but we will now be able to leverage NCDF's broader network of vertical markets, clients and complimentary services."

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