Private Placement Key Component of Attracting
Institutional Investors, Enhancing Uplisting Process
PHOENIX, AZ, June 18, 2020 (GLOBE NEWSWIRE) -- Taronis Fuels, Inc., (“Taronis” or the “Company”) (OTCQB: TRNF), a global producer of renewable and socially responsible fuel products, today announced the Company has successfully completed a $0.9 million equity capital raise with strategic investors. The Company’s private placement was offered to a select group of well-respected high net worth investors and successful microcap fund managers within the microcap investment community.
The offering is part of a comprehensive plan to expand the Company’s existing shareholder base to include sophisticated money managers, fund managers, and additional ultra-high net worth investors for follow-on open market investments. The Company believes this is a critical next step in its effort to attract institutional investors as part of the overall uplisting process.
In the offering, the Company only sold shares of restricted common stock to the investors. The offering did not include any warrants, residual participation rights or any other form of consideration.
“We are very pleased to take this first step to enhancing our shareholder base,” commented Scott Mahoney, CEO of Taronis Fuels. “The Company already benefits from a deep and supportive shareholder base. We have a very active and liquid currency in our common stock, particularly for a newly traded company.”
“This private placement represents far more to the Company than just a simple capital infusion. This is part of a broader plan. We believe that our technology will allow us to quickly scale our revenues, generate scaling EBITDA, and should translate into significant shareholder value. We want to position the Company to attract high quality institutional investors, which we believe will maximize shareholder value for many years to come,” 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.
Investor Contacts:
Michael Khorassani
IR@Taronisfuels.com