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Slide 1. Taronis Technologies, Inc.Water Pilot, LLC
Taronis Technologies, Inc., (Taronis or the Company) (NASDAQ: TRNX), a leading clean technology company in the renewable resources and environmental conservation industry, today announced it has entered into a non-binding letter of intent to acquire a controlling interest in Water Pilot, LLC, based in Aventura, FL. The investment shall be payable in Taronis common stock equivalent to $1.275 million in value, and will include conditional earn-out payments if certain revenue and cash flow metrics are achieved over the first two years of operations post-closing. The acquisition is scheduled to close on or before May 31, 2019.
Taronis Technologies is a technology company that utilizes a plasma based system for the gasification and sterilization of liquid waste. Co. sells two products: its proprietary fuel, MagneGas2, for use in the metal working industry, the machines that produce MagneGas2, known as Plasma Arc Flow refineries. In addition, Co. sells metal cutting fuels and ancillary products through Equipment Sales and Services, Inc., GGNG Enterprises, Inc. and Green Arc Supply, L.L.C. subsidiaries.
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