Augusta Enters Into Agreement With New York University

Augusta Industries Inc. (the "Corporation") (AAO) is pleased to announce that its wholly owned subsidiary, FOX TEK Canada Inc. ("Fox Tek"), has entered into an agreement (the "Agreement") with the Office of Industrial Liaison at New York University ("NYU"), to explore the development of advanced fiber-optical strain sensors for use in the oil and gas and civil infrastructure sectors. The patented fiber-optic loop-sensor technology was originally developed by Dr. Nikhil Gupta, at NYU's Polytechnic School of Engineering.

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