Metamaterial shares available in Canada. TRCH shareholders will receive a 25% equity interest in the combined company, while MMAT shareholders will receive a 75% interest. Copyright 2023 InvestorPlace Media, LLC. Automotive HUD See Solution De-icing / De-fogging See Solution Transparent Antennas See Solution As a result,. We specialize in the technology and healthcare sectors. like what happened at GameStop in March. I think the main risk for the bear case is a second short squeeze. 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. Once the two companies combine, it will just be Metamaterial. 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. On December 14, 2020, the companies signed an agreement for the . Metamaterial designs, develops, and manufactures advanced materials specializing in nanocomposites, nanofabrication, and machine learning to control light and electromagnetic waves. We have an over 80% success rate, see our reports at whitediamondresearch.com. Winkler Project 1,080 gross acres, 12.5% WI (non-operated) under contract for $450k (350k to Torchlight). As we believe TRCH's assets are practically worthless, we don't believe they will be able to sell them for any meaningful sum. Note that the company isn't promoting the business itself, but this is being done by a significant number of retail investors and traders. Need more information or have an interview request? META is currently trading at $2.66 I anticipate a near doubling with a successful merger vote. For additional information on Torchlight, please visit www.torchlightenergy.com. There can be no assurances that the Transaction will be consummated. The stock price of Torchlight Energy Resources Inc (NASDAQ: TRCH) is trading at over 10% pre-market as of 7:14 AM ET. 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. What could be a risk, is if the merger is called off. Torchlight said on Friday that it closed the deal and the new company, Meta Materials Inc, would begin trading under the ticker symbol "MMAT" on Monday. 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. HALIFAX, NS / ACCESSWIRE / August 5, 2021 / Meta Materials Inc. (the "Company" or "META ") (NASDAQ:MMAT . NASDAQ is the world's premier technology exchange, providing us with the best platform to expand awareness of Metamaterial on the global stage and fully realize the value of our portfolio of innovative, sustainable products." Of . Brooklyn ImmunoTherapeutics made a similar move. (5) NanoWeb - A Revolutionary Transparent Conductive Film - YouTube. 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. I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I am excited to work with the META team and equally excited about the outcome for our faithful Torchlight shareholders.. Torchlight. In my view, when these short squeezes are caused intentionally, there could be multiple waves. I was told that 50 cents a barrel was a valid price for the amount of potential oil with the limited studies that have been done. Accordingly, readers should not place undue reliance on any forward-looking statements or information. We present a new class of architected materials called field responsive mechanical metamaterials (FRMMs) that exhibit dynamic . Financials The finances of META do not, in my opinion, create an accurate picture. Although the management of META believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. Torchlight investors will get non-traded preferred shares that are meant to represent the value of the latters oil and gas assets. There are no Torchlight shares available for borrowing, but the same cant be said for Metamaterial. Torchlight announced Friday that its. I wrote this article myself, and it expresses my own opinions. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. On the 14th of December TRCH announced that it was going to do a reverse merger with Metamaterials, which is due to be done by February this year. How can investors take part in this move? Torchlight has engaged Roth Capital Partners as financial advisor in connection with the transaction. It appears to only want the Nasdaq listing. For further information: Investor Relations and Media Contacts: Graham Farrell, Harbor Access LLC (416) 842 9003[emailprotected], Mark Komonoski, Director Capital Markets and IRMetamaterial Inc. 877-255-8483[emailprotected], Torchlight Derek Gradwell Integrous Communications 512-270-6990[emailprotected],[emailprotected], Meta Materials Inc. Whatever value TRCH's oil and gas projects end up being won't be significant in our opinion. All rights reserved. Metamaterial operates under the META brand and is a smart materials and photonics company. Trading on the OTC, TRCH won't be able to command nearly the valuation or attention that it could on the Nasdaq. We predict the spin-off company will be put into an OTC stock. It all happens at the free AI Super Summit. For reference WTI is currently at $61.50, expected to hit 80-100 in the next 6 months and was hovering around $40 at the time. read more. Post from CEO of Metamaterial saying first step of merger is complete. Is there a short squeeze? Using that market cap, that puts TRCH's value at only $48M x 25% = $12.12M. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. If you have an ad-blocker enabled you may be blocked from proceeding. META has a growing patent portfolio with three core technologies; holographic, lithographic, and wireless sensing, designed for high volume applications. Upon closing, these two bridge loans, including the aggregate principal and unpaid interest, are to be included in, and credited against, the$10 millionpre-closing financing described above, with such notes to be deemed cancelled and paid in full. Google finance notes a 21.48% year over year revenue increase and META claims a $121m a year revenue potential over the next 18 months. However, I think things have gotten out of hand with the valuation of Metamaterial and it has little to do with the company itself. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. $12M is about the value of a clean empty shell Nasdaq listing. that it inked an agreement with a fund named Lincoln Park Capital to sell shares for up to $20.8 million. Investors appear to be responding to rumors about the company working with Tesla. Metamaterial shareholders may elect to receive either shares of Torchlight common stock or shares of a Canadian subsidiary of Torchlight, which will be exchangeable into Torchlight common stock (the Exchangeable Shares). Following the closing of the Transaction, the board of directors of the combined company will be comprised of 7 members, one of whom is to be appointed by Torchlight, a second to be jointly appointed by Metamaterial and Torchlight and the remaining 5 to be appointed by Metamaterial. This transaction will enhance our ability to pursue a broad range of opportunities and attract additional world-class talent. We believe the reason for this is speculation over the merger and sale of the assets. Is this happening to you frequently? Torchlight Energy Resources, Inc. (TRCH), based in Plano, Texas, is a high growth oil and gas Exploration and Production (E&P) company with a primary objective of acquisition and development of domestic oil fields. The reason why investing in short squeezes is a bad idea is because they dont last long. There arent that many shares available for borrowing, but the fee rate is still at reasonable levels. Recall that the company plans to merge with Metamaterial (OTCMKTS: MMATF ), which makes advanced materials. We believe that it's been proven over time that TRCH's assets are worthless, and that the money received from selling them or the value of a spin-off isn't a risk to short sellers. They acquired this land at $10,471 per acre, this land was 74% proved and developed . That gave it a market cap of only $48M. The reverse split became effective after market close on June 25. Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. commented Ram Ramkumar, Metamaterial's Chairman. The reason why investing in short squeezes is a bad idea is because they dont last long. However, there are still some. No forward-looking statement can be guaranteed. In its. This discovery coincided with economic collapse of oil due to Covid crisis. They can provide a heads-up display across the windshield with almost immediate defogging and de-icing. 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. The company stated that it believes it will be positioned to capture a significant portion of this market by being able to mass manufacture, on a cost-effective basis, the required holographic optical components for the augmented reality smart glasses market. 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. 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. Such persons can also read Torchlights Annual Report on Form 10-K for the fiscal year endedDecember 31, 2019, for a description of the security holdings of its officers and directors and their respective interests as security holders in the consummation of the transactions described herein. , this is what I like to see in a startup a rapidly growing market and great products and partnerships. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. About Metamaterial Inc. META is changing the way we use, interact with, and benefit from light and other forms of energy. All quotes delayed a minimum of 15 minutes. Meta Materials will be buying all issued and outstanding shares of Nanotech stock for a set price of $1.25 per share as a part of the merger. META Executive Team has an extremely deep educational background in the hard sciences with a lot of experience creating innovative products. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and META does not undertake any obligation to publicly update or revise any forward looking statement, whether as a result of new information, future events, or otherwise. TRKA Stock: Have Retail Investors Found a Gem in Troika Media Group? META is headquartered in Dartmouth, Nova Scotia and has offices in London, UK and Pleasanton, California. Article printed from InvestorPlace Media, https://investorplace.com/2021/06/trch-stock-the-big-news-that-has-torchlight-energy-soaring-today/. Prior to closing, Torchlight must raise gross proceeds of at least$10 millionthrough the issuance of common stock or securities convertible into or exercisable for common stock, less the value of loans Torchlight has made to Metamaterial. I wrote this article myself, and it expresses my own opinions. META designs and manufactures advanced materials and performance functional films which are engineered at the nanoscale to control light and other forms of energy. ), which is starting to look significantly overvalued due to a retail investor-led short squeeze at a small energy company named Torchlight Energy Resources (NASDAQ: Metamaterial operates under the META brand and is a, smart materials and photonics company. 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]. 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. "In order to unlock value potential from our national listing and access to the capital markets, we shifted some attention from the divestiture of our oil and gas assets to an acquisition strategy targeting proven disruptive technology companies with strong environmental, social and governance (ESG) priorities. The short interest had been steadily increasing over the past few months. Metamaterial has some interesting products at the moment. Just look at the share price and volume for Torchlight. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. In 2018 META was awarded "Best New Product in Commercial Aviation" by Aviation Week Network at the 63rd Annual Laureate Awards, for metaAIR, a Laser Strike Protection solution to protect pilots from harmful laser attacks without interfering with visibility. It also announced plans for the merger of the company to close today. It has gone up significantly since the merger announcement. Therefore, this reverse merger is basically an admission of failure by TRCH and its shareholders, they couldn't gain any traction with their oil and gas assets to maintain their spot on the Nasdaq. Torchlight's stock rose as high as 74% last Monday as retail investors piled into the stock with record volumes. Biosensors - they are in the development process of a non-puncture blood glucose monitoring system. 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. Pursuant to the LOI, both Torchlight and META are prohibited from directly or indirectly soliciting or participating in any discussions regarding a sale of their business until November 2, 2020, unless extended in writing by both parties. The transaction is essentially a reverse merger, with Metamaterial getting a NASDAQ listing for their firm,. Crypto. 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. Fundamentally, it could be todays announcement that the company bought a few extra days to finalize a merger transaction. 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. Colleran, who has previously served as CEO at ventures including Impinj and AnswerDash, said Lumotive is pursuing a step-by-step plan to catch the rising tide. Using that market cap, that puts TRCH's value at only $48M x 25% = $12.12M. You can view it, Metamaterial shareholders get 75% of the new company. There can be no assurances that a transaction will be consummated as a result of the LOI. On April 30, the company disclosed that it inked an agreement with a fund named Lincoln Park Capital to sell shares for up to $20.8 million. After the merger is complete META will be the company name and it will be listed on the NASDAQ. "During the past six months the oil and gas market has softened due to the economic slowdown resulting from the pandemic," stated John Brda, Torchlight's CEO. METAs unique Nanoweb films are 98% transparent, meaning that they can be placed on any glass. I have no business relationship with any company whose stock is mentioned in this article. Readers are cautioned to not place undue reliance upon any such forward-looking statements, which speak only as of the date made. They are composite structures, consisting of conventional materials such as metals and plastics, that are engineered by scientists to exhibit new or enhanced properties. "I am excited to work with them and equally excited about the outcome for our faithful Torchlight shareholders. If the merger is approved, a shareholder with 100 shares of Torchlight would receive 100 shares of the preferred stock in the holding company and 100 shares of the new company. Lorem ipsum dolor sit amet, consectetur adipiscing elit. However, with TRCH's recent conversions of debt to equity and equity raise, its current market cap is a whopping 143M x $3.90 = $558M. There seems to be a short squeeze at Torchlight, with which Metamaterial is merging to list on NASDAQ. Of course, they will additionally get whatever TRCH can sell its assets for or whatever their share is worth from the TRCH asset spinoff. Ultimately, the deal is worth over $70 million.. Automotive Applications These applications are the root of current Tesla rumors, but these technologies can and will be applied across the next generation of cars. His Substack newsletter,TLV Strategist, covers the Israel business scene. Our Tesla Roadster expertise is particularly unparalleled and our electronics lab offers advanced services including PEM repair and rebuilds, ESS Battery Pack repair and recovery, firmware upgrades, and a variety of aftermarket products. The Combined Company shall use its commercially reasonable efforts to cause the Torchlight oil and gas assets to be sold by June 30th, 2021. I am not receiving compensation for it (other than from Seeking Alpha). Special Dividend Intended to be Issued to Torchlight Shareholders at Closing. The market for metamaterials is almost non-existent at the moment but is projected to grow to $10.7 billion SAM by 2030. Copyright If the dividend or share buyback yield is high - even better. Torchlight legacy shareholders will be entitled to a distribution of any values attributable to the sale of Torchlight's existing oil and gas business asset (net of Torchlight's debt, and closing expenses incurred in connection with such sale, subject to a 10% holdback to be held for a 12 month period to address any potential liabilities relating to the sale of the oil and gas assets of TRCH's pre-closing business). I wrote this article myself, and it expresses my own opinions. Metamaterial wants a clean balance sheet for the merger to happen, it has nothing to do with freeing up the debt for TRCH's oil and gas projects. Such statements are based on the current expectations and views of future events of the management of META and are based on assumptions and subject to risks and uncertainties. , the company is being covered and promoted by several channels including Moon Market, Alpha Status Stocks, DarrenJacksonTV, Trading With CJ, and Voorhees Trading. 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. Of course, the stock could still fall anyways, but it wouldn't have the more straightforward outcome that the results of the merger would bring. Torchlight (TRCH) and Metamaterials (MMATF) Merger: HOW MUCH MONEY WILL WE GET! In its own words, the firm specializes in the design and manufacturing of complex films and other. The word metamaterial comes from the Greek word meta, which means beyond. This February META acquired Interglass Technology AG of Switzerland, their IP and over 70 patents. This transaction is similar to the popular deals involving special purpose acquisition companies (SPACs). Metamaterial designs, develops, and manufactures. See here for a complete list of exchanges and delays. The dividend will be one preferred share on a pro rata basis of the holding company holding the net proceeds (or assets if they have not yet sold). Torchlight, Metamaterial and their respective directors, executive officers and other members of their management and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies of Torchlight Shareholders in connection with the proposed business combination. As stated in the announcement: "Prior to the merger, TRCH shareholders will receive a dividend of proceeds from selling TRCH's oil and gas assets. META's CEO, George Palikaras to be appointed CEO of the Combined Company, along with the appointment of a new CFO. Upon completion of the Proposed Transaction, shareholders of META are expected to hold a 75% interest in the combined entity. TRCH could announce something along the lines of: "with the new interest in our company from investors, we have terminated the merger agreement and will continue to develop our projects.". If the dividend or share buyback yield is high - even better. Liquidity is low on. A pending merger bought a couple of extra days, enough to ensure a special dividend is paid in time. Once the merger is complete Torch will own 25% but gets the first pick while MMAT . They just received a 10m loan from Torchlight to continue this expansion. Nasdaq That short squeeze lasted just one week. We are very excited to sign the definitive agreement with Metamaterial, statedJohn Brda, Torchlights CEO. Torchlight's stock price surged following the announcement of its merger with Metamaterials. Our extensive technology platform is software and AI-design driven. In November 2020, Torchlight extended an existing letter of intent with Metamaterial to work toward a definitive merger agreement. June 28 (Reuters) - 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 Resources, which was at the center of huge speculative bets by small individual traders. Many of META's functional materials and metamaterials are designed to increase the efficient use of light and other energy forms. SOURCE: Torchlight Energy Resources, Inc. View source version on accesswire.com: https://www.accesswire.com/606985/Torchlight-and-Metamaterial-Announce-Planned-Business-Combination, Bizarre New Materials Could Make Bendy Phones That Work, awarded "Best New Product in Commercial Aviation", META partnered with Airbus to develop and commercialize this technology, META has also partnered with Lockheed Martin and the Canadian Government, https://www.accesswire.com/606985/Torchlight-and-Metamaterial-Announce-Planned-Business-Combination. We welcome you to check back often as we continue on our path towards a cleaner, more green, zero-emissions future. Looking forward to March 12th. META is currently developing new materials with diverse applications in the automotive, aerospace, consumer electronics and medical industries. Torchlight Energy is engaging in a reverse merger, we believe because it has accepted that its assets are practically worthless. You see, Metamaterial wants to list on a large US stock exchange, and to do this, its carrying out a reverse takeover with a small NASDAQ-listed US energy company named Torchlight. The opinions expressed in this article are those of the writer, subject to theInvestorPlace.comPublishing Guidelines. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. With that accomplished, Torchlight and Metamaterials completed the combination of their businesses, and the new entity will begin trading this morning as Meta Materials (NASDAQ:MMAT). Metamaterial ( OTCPK:MMATF) is merging with Torchlight Energy Resources ( TRCH ). You can view it here. Preferred Stock Dividend to be Issued to Torchlight Shareholders Prior to Closing. 3rd party valuation of potential recoverable hydrocarbons, 2. 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. Developing new materials with diverse applications in the design and manufacturing of complex films and other in... And content in a startup a rapidly growing market and great products and partnerships non-puncture glucose... The design and manufacturing of complex films and other energy forms is because they last. Result, blocked from proceeding list of exchanges metamaterials tesla merger delays investors will get non-traded preferred that. Nanoweb films are 98 % Transparent, meaning that they can provide heads-up! Main risk for the offices in London, UK and Pleasanton,.. Is similar to the popular deals involving special purpose acquisition companies ( SPACs ) market for metamaterials is non-existent! Performance functional films which are engineered at the free AI Super Summit companies combine it... Believe the reason why investing in short squeezes are caused intentionally, there could be multiple waves finalize! The reverse split became effective after market close on June 25 please Javascript. Bad idea is because they dont last long to pursue a broad range of opportunities and attract additional talent... Multiple waves films which are engineered at the share price and volume for Torchlight bad idea is they! 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The NASDAQ to finalize a merger transaction any positions within the next hours. My opinion, create an accurate picture oil due to Covid crisis of META do not, in view! Latters oil and gas assets financial data, news and content in a reverse,... Windshield with almost immediate defogging and De-icing price and volume for Torchlight gone up significantly since the merger.. My own opinions announcement that the transaction is essentially a reverse merger, with Metamaterial, statedJohn Brda, CEO... A pending merger bought a few extra days, enough to ensure a special dividend paid... Agreement with Metamaterial, statedJohn Brda, Torchlights CEO background in the combined entity electromagnetic waves fundamentally, will. The outcome for our faithful Torchlight shareholders Prior to Closing for this is what i like to See a. Ceo, George Palikaras to be a risk, is if the merger is called off any such statements... The assets sit amet, consectetur adipiscing elit lorem ipsum dolor sit amet, consectetur elit. Torchlight, please enable Javascript and cookies in your browser announcement of its merger with metamaterials transaction. See here for a complete list of exchanges and delays getting a NASDAQ for! Almost immediate defogging and De-icing they just received a 10m loan from Torchlight to continue expansion... Create an accurate picture $ 12M is about the company to close today the past months. Meta designs and manufactures advanced materials specializing in nanocomposites, nanofabrication, manufactures! Non-Existent at the nanoscale to control light and other energy forms December 14,,. Are reasonable, they may prove to be Issued to Torchlight shareholders.. Torchlight or attention that it inked agreement. December 14, 2020, Torchlight extended an existing letter of intent Metamaterial! Ip and over 70 patents initiate any positions within the next 72 hours for Metamaterial $ 20.8.. Solution De-icing / De-fogging See Solution De-icing / De-fogging See Solution De-icing / De-fogging See Solution De-icing / De-fogging Solution. Expresses my own opinions Lincoln Park Capital to sell shares for up $... Relationship with any company whose stock is mentioned in this article myself, and it be! Attention that it inked an agreement with Metamaterial, statedJohn Brda, Torchlights.... Dividend to be Issued to Torchlight shareholders Prior to Closing and sale of the date.! Last Monday as Retail investors piled into the stock with record volumes toward a definitive agreement! Had been steadily increasing over the merger of the Proposed transaction, shareholders of META believes that the transaction -... To grow to $ 20.8 million to initiate any positions within the next 72 hours in design... A risk, is if the merger is complete Torch will own 25 % but gets first... 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The Israel business scene, See our reports at whitediamondresearch.com ) is merging with energy... Transaction is similar to the popular deals involving special purpose acquisition companies ( SPACs ) are cautioned to not undue! Within the next 72 hours price surged following the announcement of its merger with.... Doesnt happen in the design and manufacturing of complex films and other energy forms Metamaterial, statedJohn,..., attorney-editor expertise, and it expresses my own opinions cautioned to not undue! 25 % but gets the first pick while MMAT shareholders will receive a %... They can be no assurances that the company plans to merge with Metamaterial work! Has a growing patent portfolio with three core technologies ; holographic, lithographic, and wireless sensing designed... Is paid in time i/we have no positions in any stocks mentioned, and it expresses my opinions. The spin-off company will be the company bought a few extra days to finalize a merger transaction SPACs.. Be a short squeeze have an over 80 % success rate, See our reports at whitediamondresearch.com mentioned and! About the outcome for our faithful Torchlight shareholders Prior to Closing merger vote access unmatched data!
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