Brings Significant Track Record for Managing Rapid Growth and Capital Market Relationships
PHOENIX, AZ, Nov. 05, 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 appointment of Mary Pat Thompson as the Company’s new Chief Financial Officer and Treasurer. The Company’s former CFO, Tyler Wilson, will remain with the Company as its Vice President, General Counsel and Secretary. Mr. Wilson will oversee mergers and acquisitions, strategic initiatives, and critical transactions to accelerate organic growth.
Ms. Thompson brings extensive technical and professional experience to her new role with Taronis Fuels. Most notably, she was the CFO of MWI Veterinary Supply, Inc (Nasdaq: MWIV) (“MWI”) from 2002-2015. During her time with MWI, she played a key role in bringing the company public on Nasdaq and executing 13 acquisitions totaling $962 million in revenue. From 2002-2014, MWI achieved a compounded annual revenue growth rate of over 20% and was repeatedly listed on the Fortune 100 Fastest Growing Companies list. Under her leadership, the company delivered significant shareholder value. This strong financial performance resulted in greater than an 11-fold increase in share price over a ten year period. Ms. Thompson ultimately oversaw the sale of MWI to AmerisourceBergen in 2015 for $2.5 billion.
Beyond her experience with MWI, Ms. Thompson brings a wealth of additional professional experience and expertise. As a certified public accountant, she began her career with Arthur Andersen after completing her Bachelor of Science in Business Accounting from the University of Idaho. Ms. Thompson currently serves as an independent director on the Board of Directors of H&E Equipment Services (Nasdaq: HEES). Ms. Thompson served as the Chairperson of Federal Reserve Bank of San Francisco’s 12th District Economic Advisory Council in 2019, and is a member of the Zions Bank Business Advisory Council.
“We are very excited to announce Ms. Thompson’s acceptance of the position as Chief Financial Officer at Taronis Fuels,” commented Scott Mahoney, CEO of Taronis. “Ms. Thompson was introduced to the Company through several of our largest shareholders, who witnessed first-hand her impressive accomplishments as the former CFO of MWI.”
“Ms. Thompson brings the ideal combination of knowledge, experience, and entrepreneurial spirit to Taronis at a critical inflection point in our business. We have made great strides in strengthening our balance sheet, enhancing our liquidity, and positioning our Company to accelerate our growth plans heading into 2021. She is expected to play an instrumental role in preparing our systems and our team as we look to execute on our growth objectives.”
“I look forward to partnering with the leadership team at Taronis Fuels,” commented Ms. Thompson. “I was introduced to the Company by several former mutual fund managers that I had established long-standing relationships with during my career with MWI. I came away impressed by the underlying technology that is driving the Company’s business model, and I am excited by the growth opportunities in front of Taronis today. I believe I can add meaningful value and experience to the Company as we prepare for a promising 2021 and beyond.”
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 functional 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