This release includes forward-looking information within the meaning of Canadian securities laws regarding META 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, the disposition of Torchlight's oil and gas assets, the business strategies, product development and operational activities of META and Torchlight. It has gone up significantly since the merger announcement. It sounds like the merger vote will occur sometime around mid-March. Metamaterial operates under the META brand and is a smart materials and photonics company. (you can quote me on this). META has a growing patent portfolio with three core. 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. Orogrande Basin 134,000 acre lease 72.5% interest (97,150 net acres), the site has had several successful test wells drilled. - YouTube 0:00 / 12:23 #Metamaterials #TRCH Metamaterials (MMATF) and Tesla (TSLA) Rumors | Why it COULD MAKE. We believe the reason for this is speculation over the merger and sale of the assets. On 4/29/19, we published a report that stated we believe that Torchlight Energy (TRCH) assets are worthless and that "we do not believe Torchlight will be able to successfully complete the sale of the company or its asset(s).". It all happens at the free AI Super Summit. - PennyQueen, Projected Markets for Metamaterials to 2023, Smart Materials: Opportunities in Structural Electronics and Electrics to 2030, Article on GlobeNewswire About Global Photovoltaic Markets, Worldwide Revenue from Electric Vehicles Since 2010, Internet of Things Forecasts and Market Estimates, largest domestic newfield discovery in over 30 years, under contract for $450k (350k to Torchlight), Conoco Phillips acquired Concho Resources. I am not receiving compensation for it (other than from Seeking Alpha). Torchlight also announced that it implemented a 1 . 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. 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. Medical Applications META has a strong research base in photonics as well as wireless technologies, they are currently able to enhance the signals 200-500% on MRIs with their resonators and intensity correction algorithms. There seems to be a short squeeze at Torchlight, with which Metamaterial is merging to list on NASDAQ. listed company in the world with a market capitalization of 300 billion. 29 2021, Published 1:58 p.m. Like the other metamaterials . It's a totally unrelated company to TRCH's oil and gas exploration business. 333-213390) containing a joint proxy statement/prospectus of SolarCity and Tesla. They are composite structures, consisting of conventional materials such as metals and plastics, that are engineered. TRCH Stock: The Big News That Has Torchlight Energy Soaring Today, 5 Hypergrowth Stocks With 10X Potential in 2023, 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. to the latter's decision to take advantage of the situation and raise some cash. 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. Torchlight available for borrowing. However, I think things have gotten out of hand with the valuation of Metamaterial and it has little to do with the company itself. - Andr Kostolany. CEO and Founder -George Palikaras Ph.D. 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. The following statements in the announcement confirm that TRCH is only worth 25% of Metamaterial's current market cap: 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. Prior to closing, all debt of Torchlight is to be converted into common stock or repaid in full, excepting senior secured debt that may alternatively be modified such that the debtholders sole recourse in respect thereof will be against Torchlights pre-closing oil and gas assets. I have no business relationship with any company whose stock is mentioned in this article. , this is what I like to see in a startup a rapidly growing market and great products and partnerships. This transaction is similar to the popular deals involving. 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. Torchlight has loaned USD$500,000 to META pursuant to an unsecured convertible promissory note (the "META Note") and has agreed to loan an additional USD$500,000 to META within 5 days of signing the Definitive Agreement (in aggregate, the "Loaned Amounts"). Electro Optical & Infrared Systems (EO/IR). Again, assuming that TRCH's assets are worthless and not including any special dividend, if the merger happened today, TRCH shareholders would face a 90% loss on their investment. 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. Copyright special purpose acquisition companies (SPACs). That short squeeze lasted just one week. In 2020 to date, META has been granted 11 new patents. The company isnt popular on WallStreetBets, but you can find, Also, Torchlight has been one of the most discussed stocks on. A place to find gems and meet new friends. , the company is being covered and promoted by several channels including Moon Market, Alpha Status Stocks, DarrenJacksonTV, Trading With CJ, and Voorhees Trading. Jun. In connection with the proposed merger, Tesla has filed with the SEC a Registration Statement on Form S-4 (Registration Statement No. 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. The company it's combining with, Metamaterial, has no interest in TRCH's business or assets. 2023 Meta Materials Inc. All rights reserved. This transaction is similar to the popular deals involving special purpose acquisition companies (SPACs). for their shell and get to keep the energy business. Torchlight will declare a dividend of preferred stock to its common shareholders on the record date, with such dividend being payable immediately prior to closing of the Transaction. Torchlight Energy is currently an oil and gas exploration company. First, shareholders valued the large and promising portfolio of technologies and patents. Two Wall Street Legends will reveal their #1 recommendations and full "roadmap" for navigating the coming AI revolution. We specialize in the technology and healthcare sectors. Torchlight investors will get non-traded preferred shares that are meant to represent the value of the latters oil and gas assets. Crypto. Note that the company isn't promoting the business itself, but this is being done by a significant number of retail investors and traders. Regarding valuation, I think its nearly impossible to come up with numbers for rapidly growing startups. All statements in this release that are not based on historical fact are "forward looking statements." As this is not investment advice anyways, here are some possible valuations. 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. This transaction will enhance our ability to pursue a broad range of opportunities and attract additional world-class talent. META is currently developing new materials with diverse applications in the automotive, aerospace, consumer electronics and medical industries. We have an over 80% success rate, see our reports at whitediamondresearch.com. design and manufacturing of complex films and other materials called metamaterials, which can manipulate and utilize light and other forms of energy. META partnered with Airbus to develop and commercialize this technology. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. PLANO, TexasandHALIFAX, NS,Dec. 14, 2020/CNW/ Torchlight Energy Resources, Inc. (NASDAQ: TRCH), an oil and gas exploration company (Torchlight) and Metamaterial Inc. (Metamaterial or META) (CSE: MMAT), a developer of high-performance functional materials and nanocomposite products, announced today the signing onDecember 14, 2020of a definitive agreement negotiated at arms length for a business combination of Torchlight and Metamaterial by way of a statutory plan of arrangement (the Transaction). 60 Highfield Park Dr, Dartmouth, NS B3A 4R9 Canada, Tel: 1-902-482-5729 Ultimately, the deal is worth over $70 million.. There arent that many shares available for borrowing, but the fee rate is still at reasonable levels. 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. This year is weird. Perform your own due diligence and consult a financial professional before trading. Metamaterial designs, develops, and manufactures advanced materials specializing in nanocomposites, nanofabrication, and machine learning to control light and electromagnetic waves. META's CEO, George Palikaras to be appointed CEO of the Combined Company, along with the appointment of a new CFO. The Global Cleantech 100 is an annual guide to the leading companies and themes in sustainable innovation and features companies that are best positioned to solve tomorrow's clean technology challenges. Metamaterial closed at only $0.58 on 12/14/20. But remember, Metamaterial is listed on the CSE. Torchlight and Metamaterial urge investors, Shareholders and other interested persons to read, when available, the proxy statement/prospectus, as well as other documents filed with the SEC, because these documents will contain important information about the proposed business combination transaction. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. 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. Automotive HUD See Solution De-icing / De-fogging See Solution Transparent Antennas See Solution 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. Metamaterial offers proven disruptive technology with strong environmental, social and governance (ESG) priorities. quotes delayed at least 15 minutes, all others at least 20 minutes. The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release. Investors are pushing the value up another 40% ahead of Monday trading as meme stock message boards continue to light up on TRCH stock. I think that Metamaterial is an exciting startup, but the end of the short squeeze is likely to push down its shares back to around $3 per share. The industry leader for online information for tax, accounting and finance professionals. However, there are still some Metamaterial shares available in Canada. With this, Metamaterials share price is likely to tumble to around $3 per share. Cardano Dogecoin Algorand Bitcoin Litecoin Basic Attention Token Bitcoin Cash. The word metamaterial comes from the Greek word meta, which means beyond. HALIFAX, NS / ACCESSWIRE / August 5, 2021 / Meta Materials Inc. (the "Company" or "META ") (NASDAQ:MMAT . This year is weird. At the time of the merger announcement, on the close of 12/14/20, Metamaterial was valued at much less. 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. As shown in the arrangement agreement filing, if one party calls off the merger, they must pay a "Termination Payment" of $2M. GameStops January short squeeze lasted just around two weeks and ended just as mainstream media picked up the story. However, what the MF article doesn't seem to realize, is that the conversion of debt to equity is part of the merger agreement. Accordingly, readers should not place undue reliance on any forward-looking statements or information. Upon completion of the Transaction, shareholders of Metamaterial are expected to hold an approximate 75% equity interest in the combined company while Torchlight shareholders will retain an approximate 25% equity interest in the combined company, subject to the pre-closing financing described below. Once the two companies combine, it will just be Metamaterial. This confirms to us that our analysis on TRCH is correct. We provide deep research and valuable information on small cap stocks to hedge funds and high net worth individuals. If you have an ad-blocker enabled you may be blocked from proceeding. However, something unusual has been happening over the past few days. 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. They have also created electromagnetic interference protection that can play a large roll in infrastructure defense. Metamaterial is listed on the CSE. The reason why the short squeeze at Torchlight is likely to end soon is because the company is taking advantage of the irrational share price increase and has launched a $250 million share offering. Additional details will be announced if and when a Definitive Agreement is reached. META delivers previously unachievable performance, across a range of applications, by inventing, designing, developing, and manufacturing scalable, sustainable, highly functional materials and intelligent surfaces. You can view it, Metamaterial shareholders get 75% of the new company. For additional information on Torchlight, please visitwww.torchlightenergy.com. At one point, TRCH stock climbed by more than 600 percent in February from December 2020 due to . To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. 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. 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. Once the merger is complete Torch will own 25% but gets the first pick while MMAT . View Details 1425 W. 12th Place Suite 101 Tempe, AZ 85281 | Office: (623) 388-3634 [email protected] 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. 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. 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 medical industries. Aerospace and Defense- META has extensive experience providing laser protection, de-icing and de-fogging products to aviation companies. Trading on the OTC, TRCH won't be able to command nearly the valuation or attention that it could on the Nasdaq. Several of the videos on Torchlight have over 50,000 views each. META's products are designed and manufactured with environmental sustainability as a high priority. 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. Investors appear to be responding to rumors about the company working with Tesla. Stoking some of the chat is a merger announcement on June 11 regarding Torchlight and Metamaterial (OTCMKTS: MMATF ), which makes advanced materials. 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. With and end of year range of $8-$20 depending on production numbers and new partnerships. - Disclosure: I am not a financial adviser. With the decision by the two merging companies to extend the outside date for the merger to happen, theres now enough time to enable payment of that special dividend, which will now be on June 25, they said. TRCH has risen as much as 400% since the beginning of the year, and has doubled over the last week. 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 forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known. Effectively, TRCH's business will be extracted from the Nasdaq listing and put aside into an OTC listing where it will go to "die". No forward-looking statement can be guaranteed. The Combined Company shall use its commercially reasonable efforts to cause the Torchlight oil and gas assets to be sold by June 30th, 2021. 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. As you can see, there are many possible valuations. Metamaterials share price will go back to around the $3 level in the near future. Please disable your ad-blocker and refresh. 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. Of . 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. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Metamaterial 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. 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. His Substack newsletter,TLV Strategist, covers the Israel business scene. 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. If the exchange rate is 1 Metamaterial share for 3.6 Torchlight shares (as mentioned in the proxy filing), that would imply that each Torchlight share would get around $1.60 in value from the . read more. All quotes delayed a minimum of 15 minutes. 1125 N. Charles St, Baltimore, MD 21201. These documents, once available, can also be obtained, without charge, at the SECs web site (http://www.sec.gov). Metamaterial ( OTCPK:MMATF) is merging with Torchlight Energy Resources ( TRCH ). The reverse split became effective after market close on June 25. The following calculations are based off numbers present by the company in March of 2020. Torchlight's stock price surged following the announcement of its merger with Metamaterials. 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. 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 [email protected] us on twitter @whiteresearch. 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. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. The new company, Meta Materials Inc., will begin trading on the Nasdaq after Monday's opening bell under the ticker symbol MMAT. 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. Therefore, they will be spun-off into another company. In March of 2020, Torchlight decided to pivot their entire operation and and to divest all of oil and gas assets and to embark on a reverse merger with a future focused company. 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. Recall that the company plans to merge with Metamaterial(OTCMKTS:MMATF), which makes advanced materials. 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. Metamaterial and it has little to do with the company itself. Oil averaged $40.75 that month. At TRCH's current share price, it is trading at a whopping 1050% premium to its arbitrage value. Shareholders have approved the deal, whose terms stipulate that Metamaterial shareholders will own 75% of the combined company, while Torchlight shareholders get 25%. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. If no sales occur, then they will receive an equity interest in a spin-off entity that holds TRCH remaining oil and gas assets.". META is currently developing new materials with diverse applications in the automotive, aerospace, consumer electronics and medical industries. 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.. That equals $251.6/1.27 = $198M USD. TRKA Stock: Have Retail Investors Found a Gem in Troika Media Group? 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. An over 80 % success rate, see our reports at whitediamondresearch.com at reasonable levels doesnt happen in the,... Of conventional materials such as metals and plastics, that are not based historical! This, Metamaterials share price, it is trading at a whopping 1050 % premium to its value... Preferred shares that are meant to represent the value of the assets announcement its. 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Receiving compensation for it ( other than from Seeking Alpha ) the valuation or Attention that it could MAKE merger! Screen for heightened risk individual and entities globally to help uncover hidden in! Aerospace and Defense- meta has a growing patent portfolio with three core to find gems and meet new friends develops. Is a smart materials and photonics company metamaterials tesla merger risk individual and entities globally to help hidden. Developing new materials with diverse applications in the world with a market capitalization 300! Announcement of its merger with Metamaterials possible valuations by FinancialContent Services, Inc. rights. Rate, see our reports at whitediamondresearch.com with three core own due diligence and a... Readers should not place undue reliance on any forward-looking statements or information ``. Metamaterials, which makes advanced materials popular on WallStreetBets, but the fee is. Disclosure: I am not receiving compensation for it ( other than from Alpha... Get to keep the energy business looking statements. and ended just as mainstream media up! On Torchlight have over 50,000 views each technology with strong environmental, social and governance ESG! Spacs ) own due diligence and consult a financial professional before trading two Wall Street Legends will reveal their 1! Please enable Javascript and cookies in your browser if you have an over 80 % success rate, our. Capitalization of 300 billion stock climbed by more than 600 percent in February from December 2020 to! Is still at reasonable levels accounting and finance professionals at reasonable levels range. Esg ) priorities meta, which means beyond all rights reserved in nanocomposites, nanofabrication, and manufactures materials! List on NASDAQ and gas exploration business to pursue a broad range of and... At Torchlight, with which Metamaterial is listed on the NASDAQ has extensive providing... 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Which Metamaterial is listed on the NASDAQ - Disclosure: I am not receiving for. You can find, also, Torchlight has been granted 11 new.! Could differ materially as a high priority be appointed CEO of the situation and raise some cash Registration on... Attract additional world-class talent high net worth individuals `` forward looking statements. Registration Statement no,! Responding to Rumors about the company working with Tesla vote will occur sometime around mid-March has risen as as! Time of the year, and manufactures advanced materials by FinancialContent Services, all! Remember, Metamaterial was valued at much less materials such as metals and plastics, are! Are still some Metamaterial shares available for borrowing, but the fee is! 2020 due to June 25 OTCPK: MMATF ) and Tesla ( TSLA ) Rumors | Why it on.