Entire Board and CEO Invest $0.4 Million in Restricted Stock Purchase
PHOENIX, AZ, April 01, 2020 (GLOBE NEWSWIRE) -- Taronis Fuels, Inc., (“Taronis” or “the Company”)(OTC: TRNF), a global producer of renewable and socially responsible fuel products, today announced a block purchase of just over 4 million shares of common stock were sold to insiders of Taronis Fuels. The investment was made in a single transaction in which the CEO and all independent members of the Board of Directors invested in restricted stock of the Company. The transaction was completed on March 30, 2020.
“This transaction is intended to convey the faith and commitment our entire team has in the Company,” commented Scott Mahoney, CEO of Taronis. “As we recently updated, our domestic operations are operating at a high level. Our international business is moving forward on all fronts, despite the challenges presented by COVID-19.”
“We have the highest degree of confidence in our business plan, and we wish to convey our confidence in our collective team by putting our capital to work alongside all other shareholders. The very fact that we purchased restricted stock that is restricted for at least twelve months should speak volumes to our long-term commitment to the future of Taronis Fuels,” concluded Mr. Mahoney.
About Taronis Fuels, Inc.
Taronis Fuels, Inc. is a global producer of renewable and socially responsible fuel products. Our goal is to deliver environmentally sustainable, technology driven alternatives to traditional fossil fuel and carbon-based economy products. We believe our products offer a vastly cleaner solution to legacy acetylene and propane alternatives.
Taronis is also dedicated to providing fundamentally safer solutions to meet the industrial, commercial and residential needs of tomorrow’s global economy. Our products have been rigorously tested and independently validated by global gas authorities as vastly safer than acetylene, the most dangerous industrial gas in use today.
Lastly, we strive to deliver products that offer significant function superiority at a reduced cost to the end consumer. Through these efforts, we support 9 of the 17 United Nations Sustainable Development Goals. For more information, please visit our website at www.taronisfuels.com/
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements relate to future events, including our ability to raise capital, or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
For a discussion of these risks and uncertainties, please see our filings with the Securities and Exchange Commission. Our public filings with the SEC are available from commercial document retrieval services and at the website maintained by the SEC at http://www.sec.gov.
News Release
Investor Contacts:
Michael Khorassani
IR@TaronisFuels.com