TRNF - Harvey Boshart to Vote 62500 Taronis Shares in Support of Concerned Shareholder Proposals
BOSTON, March 22, 2021 (GLOBE NEWSWIRE) -- Harvey Boshart today announced that he will vote 100% of his 62,500 shares of Taronis Fuels, Inc. (“Taronis” or “the Company”) (OTCQB: TRNF) in support of each of Tobias Welo and Thomas Wetherald’s (the “Concerned Shareholders”) proposals on the WHITE Consent Card .
Mr. Boshart believes that the recent anti-shareholder actions by the incumbent Board, including the issuance of 3.4 million shares or more than 51% of the outstanding shares and handing out $10m golden parachute packages to management, serve to further entrench a Board of Directors that is unwilling to hold Taronis management accountable for destroying shareholder value through poor financial management and corporate governance.
Mr. Boshart commented, “I believe the Taronis Board’s incentives are not aligned with shareholders and that they are driven by their own self-interests. Further, they lack the industry experience necessary to take the Company forward. More importantly, they continue to mislead investors and have not made shareholders aware of, nor denied, an SEC investigation into the Company. I urge the Board to stop wasting shareholders' money and cease any further steps to entrench themselves or Taronis management and destroy shareholder value.
The Concerned Shareholders’ slate of Director candidates is an impressive group of extremely qualified industry professionals who will oversee the implementation of a superior corporate strategy to unlock shareholder value. They have laid out a clear nine-point strategic plan to allow the company to achieve its maximum potential. For these reasons, I intend to vote the WHITE Consent Card in support of the Concerned Shareholders of Taronis, and I encourage other shareholders to do the same.”
Forward Looking Statements
Any statements contained herein that do not describe historical facts, including future operations, are neither promises nor guarantees and may constitute “forward-looking statements” as that term is defined in the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements may include words such as “may,” “might,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” or “continue,” the negative of these terms and other comparable terminology. There is no assurance or guarantee with respect to the prices at which any securities of the Issuer will trade, and such securities may not trade at prices that are stated, estimated or implied herein. Any such forward-looking statements contained herein are based on current assumptions, estimates and expectations, but are subject to a number of known and unknown risks and significant business, economic and competitive uncertainties that may cause actual results to differ materially from expectations. Numerous factors could cause actual future results to differ materially from current expectations expressed or implied by such forward-looking statements, including the risks and other risk factors detailed in various publicly available documents filed by the Issuer from time to time with the Securities and Exchange Commission (SEC), which are available at www.sec.gov, including but not limited to, such information appearing under the caption “Risk Factors” in Issuer’s Annual Report. Harvey Boshart cautions readers not to rely on any such forward-looking statements, which speak only as of the date they are made. Harvey Boshart disclaims any intent or obligation to publicly update or revise any such forward-looking statements to reflect any change in Issuer expectations or future events, conditions or circumstances on which any such forward-looking statements may be based, or that may affect the likelihood that actual results may differ from those set forth in such forward-looking statements.
Contact
Harvey Boshart
hrboshart@gmail.com