Taronis Fuels, Inc. announced that it has entered into a note purchase agreement for a private placement of convertible promissory notes for gross proceeds of $2,500,000 on August 19, 2021. The transaction included participation from an institutional investor. The notes, which carry a 1% annual interest rate and mature on August 19, 2028, are convertible into shares of the company’s common stock at $7 per share at the option of the holder.