Nasdaq Recall that the company plans to merge with Metamaterial(OTCMKTS:MMATF), which makes advanced materials. HALIFAX, NS / ACCESSWIRE / August 5, 2021 / Meta Materials Inc. (the "Company" or "META ") (NASDAQ:MMAT . 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. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. How can investors take part in this move? META is headquartered inHalifax, Nova Scotiaand has R&D and Sales offices inLondon, UKand Silicon Valley. 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. Housing Market Crash Alert: Mark Your Calendars for Feb. 28, Dear MULN Stock Fans, Mark Your Calendars for March 7, Dear NIO Stock Fans, Mark Your Calendars for March 1. 3rd party valuation of potential recoverable hydrocarbons, 2. Recall that the company plans to merge with Metamaterial (OTCMKTS: MMATF ), which makes advanced materials. 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. Merger Metals LLC has over 40 years of Industry Experience. 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. Theres even room for more lines. Metamaterial is merging with this company, its valuation has been soaring too. Several seem to see an end to TRCH stock frenzy, in part due to the impending merger and a possible short squeeze ahead of the transaction. Trading on the OTC, TRCH won't be able to command nearly the valuation or attention that it could on the Nasdaq. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by those sections. Metamaterial and it has little to do with the company itself. Biosensors - they are in the development process of a non-puncture blood glucose monitoring system. I wrote this article myself, and it expresses my own opinions. It all happens at the free AI Super Summit. Not only will their loyalty be rewarded with ownership in Metamaterials, they will also retain full value in our oil and gas assets through the Special Dividend.". Additional details will be announced if and when a Definitive Agreement is reached. You can view it, Metamaterial shareholders get 75% of the new company. 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. 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). The following is a summary of the key terms of the Proposed Transaction as contemplated by the LOI. 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. Using that market cap, that puts TRCH's value at only $48M x 25% = $12.12M. Opening a small short position on the CSE could be a good idea. Article printed from InvestorPlace Media, https://investorplace.com/2021/06/trch-stock-the-big-news-that-has-torchlight-energy-soaring-today/. Metamaterial Inc. is also developing unique microwave imaging algorithms in collaboration with King's College . With this in mind, it seems likely that Metamaterials share price will go back to around the $3 level in the near future. There can be no assurances that a transaction will be consummated as a result of the LOI. In December 2020, Torchlight Energy Resources and Metamaterial had announced a definitive agreement was signed for a business combination. 29 2021, Published 1:58 p.m. All articles are my opinion - they are not suggestions to buy or sell any securities. If it's a value stock - great. Which will lower the costs and mass of self-driving vehicles. Torchlight Energy and Metamaterial (MMATF) announced the signing of a definite agreement on 12/14/20 for a business combination. I have no business relationship with any company whose stock is mentioned in this article. 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. 1125 N. Charles St, Baltimore, MD 21201. Please. 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. Is there a short squeeze? Its assets are practically worthless, and the stock is worth a fraction of its current market cap that has runup on the merger agreement. Torchlight Energy Resources, Inc. (TRCH), based inPlano, 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. GameStops January short squeeze lasted just around two weeks and ended just as mainstream media picked up the story. Valuation The value oil drilling acreage is a moving target after the price of crude oil started collapsing in March of 2020. I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. That short squeeze lasted just one week. META partnered with Airbus to develop and commercialize this technology. 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. All articles are my opinion - they are not suggestions to buy or sell any securities. With this, Metamaterials share price is likely to tumble to around $3 per share. No forward-looking statement can be guaranteed. META is currently developing new materials with diverse applications in the automotive, aerospace, consumer electronics and medical industries. Metamaterial ( OTCPK:MMATF) is merging with Torchlight Energy Resources ( TRCH ). 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. The short interest had been steadily increasing over the past few months. The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release. Upon completion of the Proposed Transaction, shareholders of META are expected to hold a 75% interest in the combined entity. That would bring a per share value to TRCH of $12.12M/143M = ~$0.08. ?In this video, I want to talk more about the reverse merger between Torchligh. In its. It could also cause a short squeeze and renewed hype due to the change in events. Do you remember the GameStop (NYSE:GME) short squeeze? Its a win-win situation for both. The following is the 3-month chart for TRCH: TRCH closed at $0.46 on 12/17/20. 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. 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. Here is a DD write up and estimate by user u/Mr_Delmont. Metamaterial is getting a listing on NASDAQ in an easy way, while Torchlight investors get some money. That short squeeze lasted just one week. Torchlight shares will be static, METAs shares will be adjusted to maintain the ratio of 75% META share ownership and 25% Torchlight share ownership. (5) NanoWeb - A Revolutionary Transparent Conductive Film - YouTube. Looking like March 12 for merger date? I have no business relationship with any company whose stock is mentioned in this article. Many emerging technologies have historically been adopted by the automotive industry to improve performance, safety and comfort. This Transaction provides our shareholders with access to the multi-billion-dollar markets that Metamaterial serves and new applications that are being revolutionized with their sustainable technologies, while still allowing our Shareholders at closing of the Transaction to participate in the proceeds of our oil and gas asset divestitures., METAs management, led by George Palikaras, has built an extraordinary award-winning cleantech company whose proprietary advanced technologies address multiple markets and improve their customers capabilities, saidGreg McCabe, Torchlights Chairman. With its four full-time employees, Torchlights business doesnt seem like it should attract the sort of social media love that it has. META is currently trading at $2.66 I anticipate a near doubling with a successful merger vote. Although the management of META believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The board of Torchlight realized that their resource rich holdings were not enough to survive and thrive in the changing economy, and that a new path was necessary. META is currently developing new materials with diverse applications in the automotive, aerospace, consumer electronics and medical industries. For additional information on Torchlight, please visit www.torchlightenergy.com. First, shareholders valued the large and promising portfolio of technologies and patents. It would probably fall on this news, as it has also appreciated significantly over the last few months likely due to the anticipated merger. They acquired this land at $10,471 per acre. The difficulty for TRCH investor is in determining the sale value of the oil and gas assets of Torchlight. We present a new class of architected materials called field responsive mechanical metamaterials (FRMMs) that exhibit dynamic . Eg Tesla (, However, I think things have gotten out of hand with the valuation of. Aerospace and Defense- META has extensive experience providing laser protection, de-icing and de-fogging products to aviation companies. Metamaterial operates under the META brand and is a smart materials and photonics company. META designs and manufactures advanced materials and performance functional films which are engineered at the nanoscale to control light and electromagnetic waves. 333-213390) containing a joint proxy statement/prospectus of SolarCity and Tesla. Metamaterial closed at only $0.58 on 12/14/20. Shareholders have approved the deal, whose terms stipulate that Metamaterial. The process will essentially be TRCH starting all over again with the same assets, but not as a Nasdaq company anymore. 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. 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. 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. (you can quote me on this). All quotes delayed a minimum of 15 minutes. ", "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. 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. METAs unique Nanoweb films are 98% transparent, meaning that they can be placed on any glass. After the merger is complete META will be the company name and it will be listed on the NASDAQ. On the date of publication, Robert Lakin did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines. All rights reserved. This will allow them to apply their embedded metamaterial and functional film elements with precision cast corrective lenses. 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. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. 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. This transaction is similar to the popular deals involving. 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. Their technology can allow multiple transparent 5G antennas for IoT integration and their nanomaterials can improve the angular scan range of LIDAR used in self-driving vehicles. 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. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. That was a huge move for the exploration and production company because it helped to clean up Torchlight's balance sheet. How can investors take part in this move? If you have an ad-blocker enabled you may be blocked from proceeding. The webcast link will be made available and announced shortly. 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. Using that market cap, that puts TRCH's value at only $48M x 25% = $12.12M. Torchlights management will remain, in an advisory role focused on winding down Torchlights legacy business and maximizing the value obtained from the divestiture of Torchlights oil and gas assets. GameStops January short squeeze lasted just around two weeks and ended just as mainstream media picked up the story. 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 combined entity will continue to service a clientele of world-class OEM customers for a range of applications in the automotive, aerospace and defense, energy, consumer electronics and medical markets. Just look at the share price and volume for Torchlight. It has appreciated substantially. Please disable your ad-blocker and refresh. Jun. 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. Founded META in 2011, prior to that he founded MediWise, a wireless medical sensor company, he was also an antenna design engineer with AceAxis. 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. 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. Copyright 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. We are very excited to sign the definitive agreement with Metamaterial, statedJohn Brda, Torchlights CEO. The company it's combining with, Metamaterial, has no interest in TRCH's business or assets. META is changing the way we use, interact and benefit from light. Metamaterials are a subset of functional materials, according to the company. Oil prices are expected to rise to $80-$100 a barrel in the next six months. They just received a 10m loan from Torchlight to continue this expansion. Torchlight is likely to end soon is because the company is taking advantage of the irrational share price increase and has launched a, Brooklyn ImmunoTherapeutics made a similar move. read more. At the time of the merger announcement, on the close of 12/14/20, Metamaterial was valued at much less. The preferred share will provide shareholders of record, the right of participation in the net proceeds of the sale of Torchlights oil and gas assets, subject to certain holdbacks and time constraints. Oil averaged $40.75 that month. Torchlight investors will get non-traded preferred shares that are meant to represent the value of the latters oil and gas assets. It has gone up significantly since the merger announcement. Two Wall Street Legends will reveal their #1 recommendations and full "roadmap" for navigating the coming AI revolution. Metamaterial closed at only $0.58 on 12/14/20. META is currently developing new materials with diverse applications in the automotive, aerospace, consumer electronics and medical industries. The company added that capacity could be increased to 200,000 units per month with the addition of a second, eight-hour shift. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. For additional information on Torchlight, please visitwww.torchlightenergy.com. 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. InvestorPlace contributor Robert Lakin is a veteran financial writer and editor, including previous stints with Bloomberg News and as a buyside equity research editor. At TRCH's current share price, it is trading at a whopping 1050% premium to its arbitrage value. 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. Ultimately, the deal is worth over $70 million.. Regarding valuation, I think its nearly impossible to come up with numbers for rapidly growing startups. META has also partnered with Lockheed Martin and the Canadian Government's Sustainable Development Technology Canada (SDTC) fund to develop metaSOLARTM a new solar energy product suitable for the transportation industry. The company isnt popular on WallStreetBets, but you can find, Also, Torchlight has been one of the most discussed stocks on. There are no shares of Torchlight available for borrowing. 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. like what happened at GameStop in March. If the dividend or share buyback yield is high - even better. as legal advisors. Our Standards: The Thomson Reuters Trust Principles. I could not find anyone willing to go on record. If no sales occur, then they will receive an equity interest in a spin-off entity that holds TRCH remaining oil and gas assets.". This transaction is similar to the popular deals involving special purpose acquisition companies (SPACs). Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. A non-puncture blood glucose monitoring system $ 12.12M/143M = ~ $ 0.08 protection, de-icing metamaterials tesla merger de-fogging to... They acquired this land at $ 2.66 i anticipate a near doubling with a successful vote... 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Stock is mentioned in this article myself, and no plans to initiate any positions within next!, which makes advanced materials and performance functional films which are engineered at the time of the latters oil gas. Charles St, Baltimore, MD 21201, aerospace, consumer electronics and medical industries wo... Way we use, interact and benefit from light details will be listed the. Hold a 75 % interest in TRCH 's current share price, it is trading at a whopping 1050 premium... Transaction will be the company itself proxy statement/prospectus of SolarCity and Tesla made available and shortly... Ever-Expanding tax and compliance needs for the exploration and production company because it helped clean... Interest in the automotive, aerospace, consumer electronics and medical industries MD 21201,... Investors will get non-traded preferred shares that are meant to represent the value oil drilling acreage is a summary the. Are many possible valuations popular on WallStreetBets, but you can view it, Metamaterial shareholders get 75 of. We present a new class of architected materials called field responsive mechanical metamaterials FRMMs! Offices inLondon, UKand Silicon Valley good idea attention that it could also cause a short squeeze lasted just two... The signing of a definite agreement on 12/14/20 for a business combination Proposed as! 10M loan from Torchlight to continue this expansion volume for Torchlight Metals LLC has over years! Following is the 3-month chart for TRCH investor is in determining the value! A DD write up and estimate by user u/Mr_Delmont will be made and. Price is likely to tumble to around $ 3 per share rights reserved historically been adopted by the automotive to..., and industry defining technology it 's combining with, Metamaterial shareholders get 75 % interest in TRCH 's or... Trch ) `` roadmap '' for navigating the coming AI revolution the oil and gas assets Torchlight.