The stock price of Torchlight Energy Resources Inc (NASDAQ: TRCH) is trading at over 10% pre-market as of 7:14 AM ET. "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. that it inked an agreement with a fund named Lincoln Park Capital to sell shares for up to $20.8 million. I am not receiving compensation for it (other than from Seeking Alpha). 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. The last major purchase in the Permian Basin was in October 2020 when Conoco Phillips acquired Concho Resources in a $9.7 BN all stock transaction, adding 550,000 acres in the Permian basin and 200,000 b/d. Neither META or Torchlight has incurred any finders fees in association with this transaction. like what happened at GameStop in March. All articles are my opinion - they are not suggestions to buy or sell any securities. Copyright 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. The company added that capacity could be increased to 200,000 units per month with the addition of a second, eight-hour shift. Valuation The value oil drilling acreage is a moving target after the price of crude oil started collapsing in March of 2020. This transaction is similar to the popular deals involving special purpose acquisition companies (SPACs). MMAT has no desire to keep any of TRCH's assets in the combined company. With this, Metamaterials share price is likely to tumble to around $3 per share. META Executive Team has an extremely deep educational background in the hard sciences with a lot of experience creating innovative products. Special Dividend Intended to be Issued to Torchlight Shareholders at Closing. The recent loan from Torchlight does not figure into the numbers below. 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. However, there are still some Metamaterial shares available in Canada. META has engaged Hamilton Clark as financial advisor on its behalf. Basically, Metamaterial shareholders get 75% of the new company. A place to find gems and meet new friends. 3rd party valuation of potential recoverable hydrocarbons, 2. 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). We believe the reason for this is speculation over the merger and sale of the assets. 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. Metamaterial designs, develops, and manufactures advanced materials specializing in nanocomposites, nanofabrication, and machine learning to control light and electromagnetic waves. Its used to describe any material that is artificially engineered to possess a property that isnt found in naturally occurring materials. Metamaterial is getting a listing on NASDAQ in an easy way, while Torchlight investors get some money. 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 . ", "META's management, led by George Palikaras has built an extraordinary award-winning cleantech company whose proprietary advanced technologies address multiple markets and improve their customer's capabilities," said Greg McCabe, Torchlights Chairman. 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." 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. Fundamentally, it could be todays announcement that the company bought a few extra days to finalize a merger transaction. Theres even room for more lines. I wrote this article myself, and it expresses my own opinions. Although the management of META believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. 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. Post from CEO of Metamaterial saying first step of merger is complete. It appears to only want the Nasdaq listing. That short squeeze lasted just one week. The Registration Statement was declared effective by the SEC on October 12, 2016, and SolarCity and Tesla mailed the definitive . In November 2020, Torchlight extended an existing letter of intent with Metamaterial to work toward a definitive merger agreement. Preferred Stock Dividend to be Issued to Torchlight Shareholders Prior to Closing. Theres even room for more lines. Jun. The merger was analyzed by SA contributor Safety In Value back in March. Torchlight. In my view, when these short squeezes are caused intentionally, there could be multiple waves. The reason why investing in short squeezes is a bad idea is because they dont last long. It also announced plans for the merger of the company to close today. The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release. 29 2021, Published 1:58 p.m. However, what the MF article doesn't seem to realize, is that the conversion of debt to equity is part of the merger agreement. - YouTube 0:00 / 12:23 #Metamaterials #TRCH Metamaterials (MMATF) and Tesla (TSLA) Rumors | Why it COULD MAKE. They can provide a heads-up display across the windshield with almost immediate defogging and de-icing. The market for metamaterials is almost non-existent at the moment but is projected to grow to $10.7 billion SAM by 2030. Please. All statements that address operating performance or events or developments Torchlight expects or anticipates will occur in the future, such as stated objectives or goals, Torchlight's refinement of strategy, Torchlight's attempts to secure additional financing, Torchlight's exploring possible business alternatives, or that are not otherwise historical facts, are forward-looking statements. . To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. The Company quickly made itself known as an expert in the field of high-tech materials. Metamaterial operates under the META brand and is a smart materials and photonics company. Its a win-win situation for both. In its own words, the firm specializes in the design and manufacturing of complex films and other materials called metamaterials, which can manipulate and utilize light and other forms of energy. 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. Torchlight shares will be static, METAs shares will be adjusted to maintain the ratio of 75% META share ownership and 25% Torchlight share ownership. Note that the company isn't promoting the business itself, but this is being done by a significant number of retail investors and traders. Torchlight Energy and Metamaterial (MMATF) announced the signing of a definite agreement on 12/14/20 for a business combination. Our extensive technology platform is software and AI-design driven. 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. (you can quote me on this). Which will lower the costs and mass of self-driving vehicles. If no sales occur, then they will receive an equity interest in a spin-off entity that holds TRCH remaining oil and gas assets.". Its looking like Fridays 16% surge in Torchlight Energy Resources (NASDAQ:TRCH) was just the start. It has gone up significantly since the merger announcement. 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. There is no share available for short selling at Torchlight. These will be ultra-thin, light, flexible, can be applied to flat or curved surfaces and will be able to add onboard power and charging. "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. 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. You can view it, Metamaterial shareholders get 75% of the new company. quotes delayed at least 15 minutes, all others at least 20 minutes. Stoking some of the chat is a merger announcement on June 11 regarding Torchlight and Metamaterial (OTCMKTS: MMATF ), which makes advanced materials. They have also created electromagnetic interference protection that can play a large roll in infrastructure defense. Eg Tesla (TSLA). 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. Since 2011, approximately CAD $60MM has been invested in META, yielding a sizable IP portfolio. Many emerging technologies have historically been adopted by the automotive industry to improve performance, safety and comfort. ?In this video, I want to talk more about the reverse merger between Torchligh. A video interview with both CEO's and Torchlight's Chairman will be available this week and separately announced with links provided. For additional information on Torchlight, please visit www.torchlightenergy.com. If the dividend or share buyback yield is high - even better. Biosensors - they are in the development process of a non-puncture blood glucose monitoring system. Brooklyn ImmunoTherapeutics made a similar move. See the 3rd party verified return on each of our bearish reports over the last 24 months at: https://breakoutpoint.com/as-summary/white-diamond-gvmtg/To inquire about becoming a premium subscriber, send a PM here or email us at research@whitediamondresearch.com.Follow us on twitter @whiteresearch. META is currently trading at $2.66 I anticipate a near doubling with a successful merger vote. In connection with the Transaction, Torchlight and Metamaterial respectively obtained fairness opinions. Except as otherwise required by the federal securities laws, Torchlight disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in Torchlight's expectations with regard thereto, or any change in events, conditions, or circumstances on which any such statement is based. The short interest had been steadily increasing over the past few months. Whats behind the move? $12M is about the value of a clean empty shell Nasdaq listing. 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. META is an award winning Global Cleantech 100 company with products that support sustainability by doing more with less; they encompass lightweight, sustainable raw materials and processes which consume less energy and offer more performance. Augmented Reality applications- META has been developing the necessary technology while also acquiring other companies and their patents. 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. Article printed from InvestorPlace Media, https://investorplace.com/2021/06/mmat-stock-meta-materials-hits-nasdaq-as-trch-stock-merger-closes/. 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"). which is measured in Tesla (T). Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Torchlight (TRCH) and Metamaterials (MMATF) Merger: HOW MUCH MONEY WILL WE GET! I wrote this article myself, and it expresses my own opinions. At one point, TRCH stock climbed by more than 600 percent in February from December 2020 due to . They made what is considered to be the largest domestic newfield discovery in over 30 years at their Orogrande site. No forward-looking statement can be guaranteed. The Combined Company, formerly known as Torchlight Energy Resources, Inc., will at closing focus its business to align with the current business of META. 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. CTO and Chairman Dr. Waldern founded DigiLens and Retinal Displays, Inc., he holds a PhD in Computer Science Virtual Reality, he has over 170 patents and specializes in waveguides. If parties do not enter into the Definitive Agreement by November 2, 2020, or such later date as agreed in writing, or the Definitive Agreement is terminated, the holder of the META Note will have the right to convert the Loaned Amounts and all accrued interest thereon into META common shares at $0.35 (CAD) per common share. Torchlight has engaged Roth Capital Partners as financial advisor in connection with the transaction. 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. The process will essentially be TRCH starting all over again with the same assets, but not as a Nasdaq company anymore. His Substack newsletter,TLV Strategist, covers the Israel business scene. The company isnt popular on WallStreetBets, but you can find viral posts on the RobinHoodPennyStocks, pennystocks, and smallstreetbets subreddits touting it as a potential short squeeze. Ahead of the merger, Torchlight paid the special Series A Preferred Stock dividend on a 1-for-1 basis to its stockholders of record on June 24. 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.". Torchlight cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Here is a DD write up and estimate by user u/Mr_Delmont. Two of the project sites are under contract to be sold and the largest asset, the Orogrande site, is likely an extension of the Permian Basin and is being marketed to major and super major oil companies. 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. Therefore, they will be spun-off into another company. CFO & EVP - Ken Rice has a JD, MBA and a Master of Laws in taxation, he works as in-house counsel and is charge of financing efforts and progressing Metas medical products initiatives. About Metamaterial Inc. META is changing the way we use, interact with, and benefit from light and other forms of energy. 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