TAMPA, Florida, February 2, 2017 /PRNewswire/ --

MagneGas Corporation ("MagneGas" or the "Company") (NASDAQ: MNGA), today announced that it has engaged The Ashcroft Law Firm, LLC, founded by former U.S. Attorney General, Governor and Senator John Ashcroft, to investigate potential misconduct by third-parties that could involve illegal short-selling and manipulation of the Company's stock. The Company stands by its corporate governance policies and procedures and plans to vigorously defend itself against any false or misleading allegations.

About The Ashcroft Law Firm, LLC

Former U.S. Attorney General, Governor and Senator John Ashcroft serves as founder and Chairman of The Ashcroft Group and The Ashcroft Law Firm. Together with the select group of seasoned, respected and experienced senior executives he recruited to join him -- many of whom helped to lead the U.S. Department of Justice during a significant time in our nation's history -- the Firm has earned a reputation for integrity and a track record for accelerating successful resolutions of even the most complex matters. Their unique approach blends precise legal analysis with business management expertise to serve all facets of our client's needs.

With a focus on issues of integrity and corporate governance, the Firm provides compliance advice, conducts internal and external investigations, referrals and advocacy with regulators, investigators and prosecutors, and legal and consulting services to world-leading clients, including Fortune 500 companies, multi-national corporations and corporate executives.

From leading prosecutions to providing resolution strategies each member of the Firm brings a depth of experience in high stakes, complex, civil and criminal litigation.

About MagneGas Corporation

MagneGas® Corporation (MNGA) owns a patented process that converts various renewables and liquid wastes into MagneGas fuels. These fuels can be used as an alternative to natural gas or for metal cutting. The Company's testing has shown that its metal cutting fuel "MagneGas2®" is faster, cleaner and more productive than other alternatives on the market. It is also cost effective and safe to use with little changeover costs. The Company currently sells MagneGas2® into the metal working market as a replacement to acetylene.

The Company also sells equipment for the sterilization of bio-contaminated liquid waste for various industrial and agricultural markets. In addition, the Company is developing a variety of ancillary uses for MagneGas® fuels utilizing its high flame temperature for co-combustion of hydrocarbon fuels and other advanced applications. For more information on MagneGas®, please visit the Company's website at http://www.MagneGas.com.

The Company distributes MagneGas2® through Independent Distributors in the U.S and through its wholly owned distributor, ESSI (Equipment Sales and Services, Inc). ESSI has four locations in Florida and distributes MagneGas2®, industrial gases and welding supplies. For more information on ESSI, please visit the company's website at http://www.weldingsupplytampa.com.

The MagneGas IR App is now available for free in Apple's App Store for the iPhone or iPad http://bit.ly/AfLYww and at Google Play http://bit.ly/Km2iyk for Android mobile devices.

To be added to the MagneGas investor email list, please email [email protected] with MNGA in the subject line.

Investor Contacts:
KCSA Strategic Communications
Philip Carlson
+1-212-896-1233
[email protected]

SOURCE MagneGas Corporation