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. Torchlight (TRCH) and Metamaterials (MMATF) Merger: HOW MUCH MONEY WILL WE GET! Through this reverse merger Torchlight receives a 25% stake in META. Metamaterial designs, develops, and manufactures. Looking forward to March 12th. Oil averaged $40.75 that month, Conoco Phillips acquires Concho resources in 9.7 BN all stock transaction, adding 550,000 acres in the Permian basin and 200,000 b/d. We believe its oil and gas assets are worthless, or worth very little, and that will be confirmed in time if the company won't be able to sell them, as we expect to happen. (5) NanoWeb - A Revolutionary Transparent Conductive Film - YouTube. Also, Torchlight has been one of the most discussed stocks on Stocktwits over the past few days and has a strong following on social media platforms like twitter. I intend to hold my shares for a minimum of two years. CEO and Founder -George Palikaras Ph.D. 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. GameStops January short squeeze lasted just around two weeks and ended just as mainstream media picked up the story. Typically, mechanical metamaterial properties are programmed and set when the architecture is designed and constructed, and do not change in response to shifting environmental conditions or application requirements. However, a termination of the merger would likely a be a bad event for Metamaterial's share price, because then it would be stuck trading on the Canadian exchange and would have to find a new Nasdaq reverse merger candidate. I am long in TRCH at 36K shares and long in MMATF at 60K shares. His Substack newsletter,TLV Strategist, covers the Israel business scene. A short is more appealing when there's a clear endgame in sight. That short squeeze lasted just one week. 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. 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. 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. As a result of the transaction and our recent ATM offerings, META now has over $160 million in cash and a virtually debt free balance sheet with approximately 285 million shares issued and outstanding after the 2 to 1 reverse split. We are very excited to showcase how metamaterials go beyond conventional materials and chemistry, to offer new and highly sustainable solutions with semiconductor precision, at kilometer scale.. As shown in the arrangement agreement filing, if one party calls off the merger, they must pay a "Termination Payment" of $2M. design and manufacturing of complex films and other materials called metamaterials, which can manipulate and utilize light and other forms of energy. That was a huge move for the exploration and production company because it helped to clean up Torchlight's balance sheet. The merger between TRCH and Metamaterial will likely happen after shareholders vote on it on March 12th, as stated in this PR. While they do have revenue and have partnered with major companies (Samsung, Boeing, Airbus), I am thinking of them more in terms of a pre-revenue IPO. There is no share available for short selling at Torchlight. Ultimately, the deal is worth over $70 million.. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Entry into a transaction will be subject to satisfactory completion of due diligence by both parties, negotiation of a Definitive Agreement and audits of Torchlight and META. EMI shielding market projected to be valued at 6.8Bn in 2020 9.2B by 2025 CAGR 6.3% 2020-2025 Source: (Research and Markets). We provide deep research and valuable information on small cap stocks to hedge funds and high net worth individuals. Lorem ipsum dolor sit amet, consectetur adipiscing elit. META has a growing patent portfolio with three core. This year is weird. META shall appoint the 5 remaining members of the Board, which members must include the required number of independent members to maintain the NASDAQ listing requirement. As a result, META has won a number of industry awards and federal government grants for its pioneering work, including being named among the "2019 Global Cleantech 100", by Cleantech Group. It has gone up significantly since the merger announcement. Fundamentally, it could be todays announcement that the company bought a few extra days to finalize a merger transaction. InvestorPlace contributor Robert Lakin is a veteran financial writer and editor, including previous stints with Bloomberg News and as a buyside equity research editor. They acquired this land at $10,471 per acre, this land was 74% proved and developed . META's products are designed and manufactured with environmental sustainability as a high priority. Shareholders have approved the deal, whose terms stipulate that Metamaterial. It's a totally unrelated company to TRCH's oil and gas exploration business. Torchlight. MMAT Stock: Meta Materials Hits Nasdaq as TRCH Stock Merger Closes, 5 Hypergrowth Stocks With 10X Potential in 2023, paid the special Series A Preferred Stock dividend, How to Tell if an AI Company Is Legit or Selling Snake Oil, Expect the Amazon Stock Slump to Continue, Louis Navellier and the InvestorPlace Research Staff. , the company is being covered and promoted by several channels including Moon Market, Alpha Status Stocks, DarrenJacksonTV, Trading With CJ, and Voorhees Trading. And that's AFTER the merger definite agreement was announced. On that date, the company . 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. Torchlight shareholders on the record date will be entitled to receive a preferred stock dividend, payable immediately prior to the closing of the Transaction, that entitles them to their pro rata share of any proceeds resulting from any sale of Torchlights oil and gas assets that occurs on the earlier ofDecember 31, 2021or six months from the closing of the Transaction, and, after such time if such sales are not complete, will be entitled to receive a pro rata equity interest in a spin-off entity that holds Torchlights remaining oil and gas assets, subject to certain conditions. 1125 N. Charles St, Baltimore, MD 21201. Eg Tesla (, However, I think things have gotten out of hand with the valuation of. I am excited to work with the META team and equally excited about the outcome for our faithful Torchlight shareholders.. The purpose of the merger is only so Metamaterial can be listed on the Nasdaq. 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. Theres even room for more lines. 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. Special Dividend Intended to be Issued to Torchlight Shareholders at Closing. 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. 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. Effectively, TRCH's business will be extracted from the Nasdaq listing and put aside into an OTC listing where it will go to "die". But remember, Metamaterial is listed on the CSE. 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. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies to Torchlights Shareholders in connection with the proposed business combination will be set forth in the proxy statement/prospectus for the proposed business combination when available. I could not find anyone willing to go on record. I wrote this article myself, and it expresses my own opinions. His Substack newsletter,TLV Strategist, covers the Israel business scene. It appears to only want the Nasdaq listing. Torchlight Energy (TRCH) -5% post-market after announcing a one-for-two reverse stock split and confirming that its merger with Metamaterial will take effect on June 28. Nasdaq Metamaterial operates under the META brand and is a smart materials and photonics company. What could be a risk, is if the merger is called off. Therefore, they will be spun-off into another company. This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Torchlight or Metamaterial, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. quotes delayed at least 15 minutes, all others at least 20 minutes. We are very excited to sign the definitive agreement with Metamaterial, statedJohn Brda, Torchlights CEO. This discovery coincided with economic collapse of oil due to Covid crisis. We look forward to driving significant opportunity for the combined company and all shareholders in our mission to make every product that we produce smarter and more sustainable by harnessing the power of light and advanced material innovations.. 60 Highfield Park Dr, Dartmouth, NS B3A 4R9 Canada, Tel: 1-902-482-5729 Orogrande Basin 134,000 acre lease 72.5% interest (97,150 net acres), the site has had several successful test wells drilled. Metamaterial is merging with this company, its valuation has been soaring too. If you have an ad-blocker enabled you may be blocked from proceeding. The Combined Company shall use its commercially reasonable efforts to cause the Torchlight oil and gas assets to be sold by June 30th, 2021. META is currently developing new materials with diverse applications in the automotive, aerospace, consumer electronics and medical industries. The company it's combining with, Metamaterial, has no interest in TRCH's business or assets. Once these assets are sold their net proceeds will be divided among shareholders in the form of a special dividend. Accordingly, readers should not place undue reliance on any forward-looking statements or information. Valuation The value oil drilling acreage is a moving target after the price of crude oil started collapsing in March of 2020. As well as the conversion of the company's debt to equity. See here for a complete list of exchanges and delays. The company detailed its paying of a special dividend to its shareholders, as well as a reverse stock split. That gave it a market cap of only $48M. Investors appear to be responding to rumors about the company working with Tesla. In December 2020, Torchlight Energy Resources and Metamaterial had announced a definitive agreement was signed for a business combination. All rights reserved. We are here to support any Tesla vehicle with repair services, parts, upgrades, and advanced engineering services. The companys main focus has historically been on the acquisition and development of highly profitable domestic oil fields, with interests in Texas, including the Permian Basin and the Eagle Ford Shale. Torchlight Energy Resources announced on June 25 that it completed the necessary steps to make its merger with Meta Materials, Inc. official. In 2019 META acquired North, Inc and their roll-to-roll holographic manufacturing tech. 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.". The assets of Torchlight energy include three project sites, an experienced management team, access to capital, and a NASDAQ listing. 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 word metamaterial comes from the Greek word meta, which means beyond. 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. As this is not investment advice anyways, here are some possible valuations. They have three major oil and gas assets. TRCH will sell its assets or spin them off before the business combination happens; the combined company will get none of TRCH's assets. Date announced Permian deal Value per acre (USD), March 2018 Concho Resources-RSP Permian $75,504, August 2018 Diamondback Energy-Ajax Resources $33,008, July 2019 Callon Petroleum-Carrizo Oil & Gas $16,547, December 2019 WPX Energy-Felix Energy $11,965, October 2020 ConocoPhillips-Concho Resources $10,471, Plunging shale acreage values may create a new Permian M&A wave 11.12.2020, 2021 Oil and Gas M&A Outlook | Deloitte US. as legal advisors. Sign up below to get this incredible offer! There can be no assurance that the parties will reach agreement on the terms of definitive agreements or that the Proposed Transaction will be completed as currently contemplated or at all. This transaction will enhance our ability to pursue a broad range of opportunities and attract additional world-class talent. 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. Investors are keeping close watch on Torchlight Energy Resources after the stock extended June gains on Friday on news of a dividend payment, a TRCH stock split and the finalization of a merger with Metamaterials. We believe the reason for this is speculation over the merger and sale of the assets. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. Brooklyn ImmunoTherapeutics made a similar move. I have no preference for sectors or countries - I'm as comfortable owning a part of a cement miner in Peru as holding shares in a wheat farming firm in Bulgaria. META is currently trading at $2.66 I anticipate a near doubling with a successful merger vote. Torchlight cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. For additional information on Torchlight, please visitwww.torchlightenergy.com. Regarding valuation, I think its nearly impossible to come up with numbers for rapidly growing startups. The recent loan from Torchlight does not figure into the numbers below. GameStop Moderna Pfizer Johnson & Johnson AstraZeneca Walgreens Best Buy Novavax SpaceX Tesla. In its. 29 2021, Published 1:58 p.m. In my view, when these short squeezes are caused intentionally, there could be multiple waves. Cardano Dogecoin Algorand Bitcoin Litecoin Basic Attention Token Bitcoin Cash. Like I explained in my article on KULR Technology Group (KULR), this is what I like to see in a startup a rapidly growing market and great products and partnerships. Perform your own due diligence and consult a financial professional before trading. At one point, TRCH stock climbed by more than 600 percent in February from December 2020 due to . Its a win-win situation for both. Augmented Reality applications- META has been developing the necessary technology while also acquiring other companies and their patents. Torchlight and Metamaterial will be combined such that at closing, the former equity holders of Torchlight would own approximately 25% of the combined company with the former equity holders of Metamaterial owning the remaining approximately 75% of the combined company. The reason why investing in short squeezes is a bad idea is because they dont last long. It sounds like the merger vote will occur sometime around mid-March. However, there are still some Metamaterial shares available in Canada. 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. for their shell and get to keep the energy business. "NASDAQ is the world's premier technology exchange, providing us with the best platform to expand awareness of META on the global stage and fully realize the value of our portfolio of innovative sustainable products. 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"). Readers are cautioned to not place undue reliance upon any such forward-looking statements, which speak only as of the date made. Article printed from InvestorPlace Media, https://investorplace.com/2021/06/trch-stock-the-big-news-that-has-torchlight-energy-soaring-today/. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. However, I think things have gotten out of hand with the valuation of Metamaterial and it has little to do with the company itself. There is no share available for short selling at Torchlight. This transaction is similar to the popular deals involving. Biosensors - they are in the development process of a non-puncture blood glucose monitoring system. Only the Nasdaq listing. The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release. Following the Closing of the Transaction the board of directors of the combined company shall be comprised of 7 members (a) one of whom shall be appointed by Torchlight , subject to the approval of META and (b) one of whom shall be jointly agreed to by META and Torchlight . Metamaterial Inc. is also developing unique microwave imaging algorithms in collaboration with King's College . 3rd party valuation of potential recoverable hydrocarbons, 2. Short squeezes rarely last long and Torchlight is selling shares, which is a very good scenario to take a short position. Before GameStop, the most famous case was in 2008 when German auto giant Volkswagen (OTCPK:VLKAF) briefly became the most valuable listed company in the world with a market capitalization of 300 billion. On the date of publication, Robert Lakin did not have (either directly or indirectly) any positions in the securities mentioned in this article. META designs and manufactures advanced materials and performance functional films which are engineered at the nanoscale to control light and other forms of energy. It would probably fall on this news, as it has also appreciated significantly over the last few months likely due to the anticipated merger. Torchlight to acquire META through the issuance of common stock, such that at closing, the former equity holders of Torchlight would own 25% of the combined company (the "Combined Company") with the former equity holders of META owning the remaining 75% and META becoming a wholly-owned subsidiary of Torchlight. 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. It will likely be spun off onto the OTC exchange. It has been our goal for META to be a NASDAQ-listed company, stated George Palikaras, President & CEO of Metamaterial. 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. Pertinent deal terms are as follows: Torchlight and Metamaterial invite all interested parties to view a webcast introduction of George Palikaras, CEO of META and an overview on META. Accordingly, readers should not place undue reliance on any forward-looking statements or information. Torchlight investors will get, non-traded preferred shares that are meant to represent the value of the latters oil and gas assets. Metamaterial offers proven disruptive technology with strong environmental, social and governance (ESG) priorities. commented Ram Ramkumar, Metamaterial's Chairman. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Crypto. 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. 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. special purpose acquisition companies (SPACs). META is headquartered in Dartmouth, Nova Scotia and has offices in London, UK and Pleasanton, California. With this reverse merger Metamaterials will be brought into the main market with Torch becoming the shell company. 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). There can be no assurances that a transaction will be consummated as a result of the LOI. Jun. The oil and gas exploration and production company based out of Plano, Texas, has become something of a regular on meme chats and threads, likeReddits r/WallStreetBets and other subreddits, in recent weeks. After the merger and up-listing to the NASDAQ, I expect META to be trading no lower than $5. Although META 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. 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