On Friday, shares of the global producer of renewable and socially responsible fuel products, Taronis Fuels Inc (OTCPink: TRNF) closed up 28.21 percent at $5.5000 and has been trading between $4.50 and $5.74. Taronis stock has gained 50.68% in the last month, with an average volume of almost 19 thousand shares. Following several announcements on Friday, TRNF stock rose.
How did those developments occur?
Global producer of renewable and environmentally friendly fuels, Tanoris is committed to a sustainable global economy. Providing safe solutions through TRNF is the key to meeting the future economic needs of the commercial, industrial, and residential sectors.
A number of important developments were announced by Taronis on Friday, among them the appointment of Kevin Foti as CEO.
- TRNF also announced that Wilbur Ross has joined the Company’s Board of Directors.
- As part of the transaction, TRNF issued approximately $16.5 million of common stock to institutions and accredited investors in order to allow the company to reduce debt obligations while pursuing several key growth initiatives.
- Investors received shares of TRNF’s common stock at a set price of $3.00, and warrants were not issued.
- The TRNF’s transaction was exclusively placed by Kingswood Capital Markets, a division of Benchmark Investments, Inc. as its agent.
TRNF moving forward:
Nearly two months ago, TRNF put in place a new Board that remains dedicated to investors, employees, customers, and vendors. Taronis (TRNF) will continue to expand profitably as it makes its way to becoming one of the largest industrial gas companies.