Once these assets are sold their net proceeds will be divided among shareholders in the form of a special dividend. Perform your own due diligence and consult a financial professional before trading. For additional information on META, please visitwww.metamaterial.com, This release includes forward-looking information within the meaning of Canadian securities laws regarding Metamaterial and its business, which may include, but are not limited to, statements with respect to the terms and anticipated timing of the proposed transaction, the intention to raise equity capital, the potential continued listing on the NASDAQ and the benefits thereof, the disposition of Torchlights oil and gas assets, the approval of the Transaction by the shareholders of Metamaterial, the business strategies, product development and operational activities of Metamaterial and Torchlight. Since 2011, approximately CAD $60MM has been invested in META, yielding a sizable IP portfolio. A video interview with both CEO's and Torchlight's Chairman will be available this week and separately announced with links provided. In November 2010, Pole Perfect bought Torchlight Energy and abandoned all of its previous business plans within the health and fitness industries before formally changing its name to Torchlight in 2011. read more. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the companies, including risks regarding the ability of the parties to reach agreement on definitive agreements, the ability of the parties to raise necessary equity capital, approval of the transaction and continued listing by the NASDAQ, approval of the Canadian Securities Exchange, receipt of shareholder approval and required third party and regulatory consents, the risk that Torchlight may not be able to dispose of its oil and gas assets on favorable terms or at all, risks related to the technology industry, market strategic and operational activities, and management's ability to manage and to operate the business. Metamaterial designs, develops, and manufactures advanced materials specializing in nanocomposites, nanofabrication, and machine learning to control light and electromagnetic waves. Automotive HUD See Solution De-icing / De-fogging See Solution Transparent Antennas See Solution Torchlight has engaged Roth Capital Partners as financial advisor and Stikeman Elliott LLP and K&L Gates LLP as legal advisors, and Metamaterial has engaged Hamilton Clark and Cormark Securities as financial advisors and Fasken Martineau DuMoulin LLP andWilson Sonsini Goodrich& Rosati P.C. 2023 Meta Materials Inc. All rights reserved. This will allow them to apply their embedded metamaterial and functional film elements with precision cast corrective lenses. His Substack newsletter,TLV Strategist, covers the Israel business scene. Torchlight is likely to end soon is because the company is taking advantage of the irrational share price increase and has launched a, Brooklyn ImmunoTherapeutics made a similar move. The company, which pushed back the closing of the deal to June 30, upsized its stock offering to $250 million last week from $100 million to take advantage of the share price rally. All statements in this release that are not based on historical fact are "forward looking statements." On YouTube, the company is being covered and promoted by several channels including Moon Market, Alpha Status Stocks, DarrenJacksonTV, Trading With CJ, and Voorhees Trading. As Cathie Wood stated in the last ARK webinar, she is anticipating a bifurcated V-shaped recovery which will reward companies that have invested in innovation rather than in pandering to shareholders. Its a win-win situation for both. It's a totally unrelated company to TRCH's oil and gas exploration business. Although Metamaterial has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. They are composite structures, consisting of conventional materials such as metals and plastics, that are engineered by scientists to exhibit new or enhanced properties. As stated in this recent Motley Fool article: On Feb. 16 Torchlight Energy announced that one of its lenders had converted $1.5 million worth of debt into 1 million shares of the company's stock. But remember, Metamaterial is listed on the CSE. META is changing the way we use, interact with, and benefit from light and other forms of energy. Investors and security holders may obtain more detailed information regarding the names, affiliations and interests of Torchlights directors in its Annual Report on Form 10-K for the fiscal year endedDecember 31, 2019, which was filed with the SEC onMarch 16, 2020. There are no shares of Torchlight available for borrowing. Neither META or Torchlight has incurred any finders fees in association with this transaction. Please disable your ad-blocker and refresh. At TRCH's current share price, Metamaterial would have to have a market cap of around $2B by then in order for longs to make a gain apart from any dividend. As this is not investment advice anyways, here are some possible valuations. Valuation The value oil drilling acreage is a moving target after the price of crude oil started collapsing in March of 2020. The whole stock market depends only on whether there are more shares than idiots or more idiots than shares. I wrote this article myself, and it expresses my own opinions. The recent loan from Torchlight does not figure into the numbers below. Disclosure: I am/we are short TRCH. Torchlight Energy and Metamaterial (MMATF) announced the signing of a definite agreement on 12/14/20 for a business combination. Torchlight shares will be static, METAs shares will be adjusted to maintain the ratio of 75% META share ownership and 25% Torchlight share ownership. The proxy statement/prospectus will be mailed to Torchlights Shareholders. design and manufacturing of complex films and other materials called metamaterials, which can manipulate and utilize light and other forms of energy. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. META designs and manufactures advanced materials and performance functional films which are engineered at the nanoscale to control light and other forms of energy. The short interest had been steadily increasing over the past few months. There are no Torchlight shares available for borrowing, but the same cant be said for Metamaterial. PLANO, TX and HALIFAX, NS / ACCESSWIRE / September 21, 2020 / Torchlight Energy Resources, Inc. (NASDAQ:TRCH), an oil and gas exploration company ("Torchlight") and Metamaterial Inc. ("META") (CSE:MMAT), a developer of high-performance functional materials and nanocomposite products, announced today the execution of a non-binding letter of intent ("LOI", signed on September 15, 2020), for Torchlight to acquire 100% of META and to divest within the first half of 2021 Torchlight's oil and gas assets for the benefit of Torchlight's legacy shareholders (the "Proposed Transaction"). In 2020 to date, META has been granted 11 new patents. META is changing the way we use, interact and benefit from light. Torchlight Energy Resources announced on June 25 that it completed the necessary steps to make its merger with Meta Materials, Inc. official. META is developing several technologies that are designed to benefit the automotive industry and its customers. GameStops January short squeeze lasted just around two weeks and ended just as mainstream media picked up the story. Readers are cautioned to not place undue reliance upon any such forward-looking statements, which speak only as of the date made. In a reverse takeover to list on the Nasdaq and access the U.S. capital markets, Metamaterial Inc, a smart materials and photonics company, last year agreed to merge with Torchlight, an oil and gas producer. I wrote this article myself, and it expresses my own opinions. There has been a worldwide influx of retail, investors and this has led to unusual developments involving meme stocks, short squeezes, and the rise of the infamous WallStreetBets subreddit. Torchlight's management is to remain in an advisory role focused on winding down the Torchlight legacy business and maximizing the value obtained from the divestiture of the Torchlight oil and gas assets. Shareholders have approved the deal, whose terms stipulate that Metamaterial shareholders will own 75% of the combined company, while Torchlight shareholders get 25%. Forward-looking statements involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements as a result of various factors, including risks associated with Torchlights ability to obtain additional capital in the future to fund planned expansion, the demand for oil and natural gas which demand could be materially affected by the economic impacts of COVID-19 and possible increases in supply fromRussiaand OPEC, the proposed business combination transaction with Metamaterial, general economic factors, competition in the industry and other factors that could cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Lorem ipsum dolor sit amet, consectetur adipiscing elit. I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. 1125 N. Charles St, Baltimore, MD 21201. Financials The finances of META do not, in my opinion, create an accurate picture. . It's a. The difficulty for TRCH investor is in determining the sale value of the oil and gas assets of Torchlight. This transaction will enhance our ability to pursue a broad range of opportunities and attract additional world-class talent. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. In my view, when these short squeezes are caused intentionally, there could be multiple waves. While Torchlight's refinement of strategy management has based any forward-looking statements included in this release on its current expectations, the information on which such expectations were based may change. The story is narrative-driven and its not prudent to use traditional metrics such as P/S, P/E, or EV/EBITDA. The reason why investing in short squeezes is a bad idea is because they dont last long. Forward-looking statements involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements as a result of various factors, including those risks and uncertainties described in or implied by the Risk Factors and in Management's Discussion and Analysis of Financial Condition and Results of Operations sections of Torchlight's 2019 Annual Report on Form 10-K, filed on March 16, 2020 and Torchlight's other reports filed from time to time with the Securities and Exchange Commission. TRCH has risen as much as 400% since the beginning of the year, and has doubled over the last week. Regarding valuation, I think its nearly impossible to come up with numbers for rapidly growing startups. META's products are designed and manufactured with environmental sustainability as a high priority. After the merger is complete META will be the company name and it will be listed on the NASDAQ. All statements in this release that are not based on historical fact are forward looking statements. These statements may be identified by words such as estimates, anticipates, projects, plans, strategy, goal, or planned, seeks, may, might, will, expects, intends, believes, should, and similar expressions, or the negative versions thereof, and which also may be identified by their context. META has a growing patent portfolio and is currently developing new materials with diverse applications in concert with companies in the automotive, aerospace, energy, consumer electronics and. Please. Sign up below to get this incredible offer! which is measured in Tesla (T). We don't think the spinoff will end up being worth much more than what TRCH shares were worth in November, which was about $0.25-$0.40 per share. META's portfolio comprises 28 patent families, 19 of which are granted. Recall that the company plans to merge with Metamaterial (OTCMKTS: MMATF ), which makes advanced materials. Torchlight Energy is engaging in a reverse merger, we believe because it has accepted that its assets are practically worthless. These include a transparent window film that transforms outdoor 5G coverage; an invisible antenna that can enhance indoor 5G and digital TV reception; and a nano-heater that can provide deicing and defogging for autonomous vehicle sensors. Its assets are practically worthless, and the stock is worth a fraction of its current market cap that has runup on the merger agreement. Meta Materials' (META) stock faced a lot of praise and headwinds in 2021. I wrote this article myself, and it expresses my own opinions. It also announced plans for the merger of the company to close today. Several seem to see an end to TRCH stock frenzy, in part due to the impending merger and a possible short squeeze ahead of the transaction. In 2013 Metamaterial Technologies USA, Inc (formerly Rolith Inc and now META's subsidiary in Silicon Valley) received "Best Manufacturing Technology" award at the tenth annual IDTechEx printed electronics industry event. TRCH will sell its assets or spin them off before the business combination happens; the combined company will get none of TRCH's assets. For additional information on Torchlight, please visit www.torchlightenergy.com. (Source: Interactive Brokers, using a paper trading account). Metamaterial is merging with this company, its valuation has been soaring too. HALIFAX, NS / ACCESSWIRE / August 5, 2021 / Meta Materials Inc. (the "Company" or "META ") (NASDAQ:MMAT . There arent that many shares available for borrowing, but the fee rate is still at reasonable levels. Stocks rally, bonds tumble as China manufacturing rebounds, inflation weighs, Biden says 'I'm gonna raise some taxes' in March budget proposal, Reporting by Arathy S Nair in Bengaluru; Editing by Maju Samuel, Exclusive: Tesla readies revamp of Model Y codenamed 'Juniper', China scoffs at FBI claim that Wuhan lab leak likely caused COVID pandemic, U.S. Air Force flags plans to buy 26 E-7 planes from Boeing, Caterpillar reaches tentative deal with union, averting possible strike, Exclusive news, data and analytics for financial market professionals. META is currently trading at $2.66 I anticipate a near doubling with a successful merger vote. 3rd party valuation of potential recoverable hydrocarbons, 2. Metamaterial closed at only $0.58 on 12/14/20. META designs and manufactures advanced materials and performance functional films which are engineered at the nanoscale to control light and other forms of energy. Through this reverse merger Torchlight receives a 25% stake in META. special purpose acquisition companies (SPACs). Therefore, the current value to TRCH shareholders is only 25% of that of Metamaterial's current market cap plus the value of TRCH's oil and gas assets. As a result,. After the conversion it no longer has any term debt and two projects will have liens removed from them, as they backed the loan that was converted. Looking like March 12 for merger date? This transaction is similar to the popular deals involving special purpose acquisition companies (SPACs). CEO and Founder -George Palikaras Ph.D. Stoking some of the chat is a merger announcement on June 11 regarding Torchlight and Metamaterial (OTCMKTS: MMATF ), which makes advanced materials. Torchlights Shareholders will also be able to obtain a copy of such documents, without charge, by directing a request to:John A. Brda, President of Torchlight Energy Resources, Inc., 5700 W. Plano Parkway, Suite 3600,Plano, Texas75093; e-mail:[emailprotected]. Its a win-win situation for both. It all happens at the free AI Super Summit. This February META acquired Interglass Technology AG of Switzerland, their IP and over 70 patents. The closing of the Transaction is subject to the satisfaction or waiver of customary closing conditions, including approvals by NASDAQ and the Canadian Securities Exchange (CSE), Canadian court approval, and approval by the shareholders of both companies. Drilling rights in the Permian Basin of West Texas and New Mexico averaged about $24,000 an acre in recent deals, down 67% from 2018, according to Rystad Energy, an Oslo-based research firm. 2023 InvestorPlace Media, LLC. Days later, on June 14, Torchlight declared a special dividend of Series A Preferred Stock, to be issued on a one-for-0ne basis to common stock holders on June 24. Shares of Meta Material Inc (MMAT.O) gave up premarket gains to fall 20% on Monday, the first day of trading after a merger that saw the niche hi-tech materials maker swallow Torchlight Energy . Please. Metamaterials Technologies, known as META ( MMATF :US MMAT :CAN) is currently trading at $2.66 as of 02.27.2021. While management has based any forward-looking statements included in this release on its current expectations, the information on which such expectations were based may change. Metamaterial offers proven disruptive technology with strong environmental, social and governance (ESG) priorities. It is intended to reposition Torchlight into the multi-billion-dollar Advanced Materials market1 as a global cleantech and technology leader. Although the management of META believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. listed company in the world with a market capitalization of 300 billion. I was also advised that the merger and acquisition market for oil and gas companies is still soft but that is expected to change quickly with the rise in oil demand and subsequent price. I view Metamaterial as an interesting startup in a rapidly growing sector, whose valuation has soared due to a short squeeze at, Torchlight. If the dividend or share buyback yield is high - even better. Housing Market Crash Alert: Mark Your Calendars for Feb. 28, Dear MULN Stock Fans, Mark Your Calendars for March 7, Dear NIO Stock Fans, Mark Your Calendars for March 1. The following is a summary of the key terms of the Proposed Transaction as contemplated by the LOI. The combined company, formerly known as Torchlight Energy Resources, Inc., will change its name and focus its business to align with the current business of Metamaterial. But . Torchlight also said on Friday it paid a special dividend to its stockholders of record on June 24 and that it implemented a previously approved 1 for 2 reverse stock split. When the business combination with Torchlight closes, obtaining a national exchange listing inthe United Statesis anticipated to provide META with significant value and increased access to global capital markets., This Transaction will expand our business reach and attract additional world-class talent. Torchlight has assets focused in West and Central Texas where their targets are established plays such as the Permian Basin. Transformational Deal to Accelerate Growth, Scale and Commercialization of Metamaterials. It has been our goal for META to be a NASDAQ-listed company," stated George Palikaras, President & CEO of Metamaterial. Energy Applications META is currently working with Lockheed Martin and MTI to create metaSolar a NanoWeb based solar thin films that will increase solar cell efficiency by capturing light from all angles and light that would otherwise be reflected. Torchlight will loan to Metamaterial an additionalUS$500,000, in exchange for an unsecured promissory note in substantially the same form as the 8% unsecured convertible promissory note that evidences Torchlights loan to Metamaterial ofUS$500,000onSeptember 20, 2020. This is an arranged marriage of sorts, it is the catalyst that will allow META to bring their disruptive technology to the forefront of several growing sectors, each at or near their inflection point. Shareholders have approved the deal, whose terms stipulate that Metamaterial. META's innovations have been reported in popular technology magazines such as Wired.com "Bizarre New Materials Could Make Bendy Phones That Work" and the Financial Times which listed the category of metamaterials in their "50 Ideas To Change The World" in a special annual report. Brokers, using a paper trading account ) of opportunities and attract additional world-class talent Switzerland their. Our ability to pursue a broad range of opportunities and attract additional world-class talent in association with this,. Is in determining the sale value of the Proposed transaction as contemplated by the LOI additional world-class.... 2.66 as of the oil and gas assets of Torchlight listed company in the of! Meta believes that the company name and it expresses my own opinions and its not prudent to use metrics... 11 new patents ) is currently trading at $ 2.66 as of key. Statements are reasonable, they may prove to be a NASDAQ-listed company, its valuation been! 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