Taronis Amends Shelf Filing
October 18 2019 - 4:00PM
Taronis Technologies, Inc., (“Taronis” or “the Company”) (NASDAQ:
TRNX), a leading clean technology company in the renewable
resources and environmental conservation industry, today announced
that it has amended its currently filed shelf offering on file with
the Securities and Exchange Commission. The amendment is to enable
the Company to issue debt securities.
“We have been emphatic with shareholders that we
want to grow and expand our business with the least possible
dilution,” commented Scott Mahoney, CEO of Taronis. “We have relied
entirely on equity capital to fund our growth in the past two
years. Today, we have a much larger, more mature company. With the
pending $165 million Turkey contract, we believe we can source
superior debt capital that could enable us to accelerate our growth
plans. We feel that using such capital would be beneficial for all
of our shareholders as we execute our business model.”
About Taronis Technologies,
Inc.
Taronis Technologies, Inc. (TRNX) owns a
patented plasma arc technology that enables two primary end use
applications for fuel generation and water decontamination.
The Company’s fuel technology enables a wide use
of hydrocarbon feedstocks to be readily converted to fossil fuel
substitutes. The Company is developing a wide range of end market
uses for these fuels, including replacement products for propane,
compressed natural gas and liquid natural gas. The Company
currently markets a proprietary metal cutting fuel that is highly
competitive with acetylene. The Company distributes its proprietary
metal cutting fuel through independent distributors in the US and
through its wholly owned distributors doing business as “MagneGas
Welding Supply”. The Company operates 22 locations across
California, Texas, Louisiana, and Florida.
The Company’s technology can also be implemented
for the decontamination of waste water, including sterilizing
water, eradicating all pathogens. The technology is being tested to
determine if it can completely eliminate pharmaceutical
contaminants such as antibiotics, hormones and other soluble drugs
suspended in contaminated water. Lastly, the technology process is
capable of reducing or eliminating other contaminants, such as
harmful metals, as well as nitrogen, phosphorus, and potassium
levels that trigger toxic algae blooms. The technology has
prospective commercial applications in the agricultural,
pharmaceutical, and municipal waste markets. For more information
on Taronis, please visit the Company's website at
http://www.TaronisTech.com.
Taronis also owns a controlling interest in
Water Pilot, LLC. The WATER PILOT® System immediately reduces water
consumption and provides you with live remote consumption
monitoring for long term leak protection and water asset
management. An integral, client based alarm and notification system
that reports to any mobile device. Water Pilot may be appropriate
for a wide range of businesses or properties with a water meter.
For more information, please visit our website at
www.gowaterpilot.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 KhorassaniIR@TaronisTech.com
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