This Letter Details Years of Mismanagement at Taronis Fuels from A Board Unwilling To Hold Management Accountable While Being All Too Willing to Dilute Shareholders
The Board Issues 3.4 Million Shares, Or More Than 51% of the Outstanding Shares, in the Last Few Weeks to Entrench Itself and Avoid Shareholder Accountability
While the SEC Investigates the Company, The Board Has Refused to Provide Any Public Updates or Prevent Additional Harm to Shareholders
The Concerned Shareholders Urge Taronis Shareholders to Provide Their Consents on The WHITE Consent Card to Reconstitute the Board with Five Highly-Qualified And Independent Director Candidates
They Have A Simple Plan to Improve the Company’s Organic Growth and Profitability
NEW YORK, March 15, 2021 (GLOBE NEWSWIRE) -- Thomas Wetherald and Tobias Welo (together, the “Concerned Shareholders”, “we”, “our” or “us”), who owned more than 16.2% of the outstanding shares before the Board of Directors’ recent defensive and dilutive entrenchment maneuvers, today announced that they have sent a letter to the shareholders of Taronis Fuels, Inc. (OTCQB: TRNF) detailing the value destructive history of CEO Scott Mahoney and the Taronis board, as well as outlining their immediate plan to right the ship at Taronis and generate value for all Taronis shareholders and create a better Taronis for its employees and other stakeholders.
The Concerned Shareholders have launched a consent solicitation seeking to remove the incumbent board and elect a slate of significantly more qualified and aligned individuals to save Taronis and create long term sustainable value. Do not be misled. Time is of the essence. We urge Taronis stockholders to read the following letter and to vote only on the WHITE Consent Card. Voting the Taronis Green revocation card, even as a protest against Scott Mahoney and the Board, will cancel your previously cast vote to consent on the WHITE Consent Card. Only your latest dated card counts.
You may view the embedded letter below:
http://ml.globenewswire.com/Resource/Download/20ae9212-4436-4cba-8bc4-2e872733208f
Investors:
Saratoga Proxy Consulting LLC
John Ferguson / Ann Marie Mellone
(212) 257-1311
info@saratogaproxy.com
