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 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. 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. See here for a complete list of exchanges and delays. Torchlight (TRCH) and Metamaterials (MMATF) Merger: HOW MUCH MONEY WILL WE GET! According to META, the 2nd generation manufacturing line is capable of 100,000+ units per month, to support AR and other holographic products, such as automotive HUD displays, laser glare protection, optical filters, diffractive optics, and other photonic applications. Cardano Dogecoin Algorand Bitcoin Litecoin Basic Attention Token Bitcoin Cash. Augmented Reality applications- META has been developing the necessary technology while also acquiring other companies and their patents. Torchlight Energy is engaging in a reverse merger, we believe because it has accepted that its assets are practically worthless. In connection with the proposed merger, Tesla has filed with the SEC a Registration Statement on Form S-4 (Registration Statement No. Theres even room for more lines. as legal advisors. 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. Winkler Project 1,080 gross acres, 12.5% WI (non-operated) under contract for $450k (350k to Torchlight). It did sell its interest in its Winkler Project in November for $450K, but that's not a significant sum. "During the past six months the oil and gas market has softened due to the economic slowdown resulting from the pandemic," stated John Brda, Torchlight's CEO. On December 14, 2020, the companies signed an agreement for the . 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. Torchlight and Metamaterial will prepare a proxy statement/prospectus for Torchlights Shareholders to be filed with the SEC. All rights reserved. Torchlight urges you to consider those risks and uncertainties in evaluating its forward-looking statements. 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. Oil prices are expected to rise to $80-$100 a barrel in the next six months. Recall that the company plans to merge with Metamaterial(OTCMKTS:MMATF), which makes advanced materials. At the time of the merger announcement, on the close of 12/14/20, Metamaterial was valued at much less. However, what the MF article doesn't seem to realize, is that the conversion of debt to equity is part of the merger agreement. All quotes delayed a minimum of 15 minutes. 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). Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. They acquired this land at $10,471 per acre, this land was 74% proved and developed . Higher field strength systems cost much more. We have an over 80% success rate, see our reports at whitediamondresearch.com. If it's a value stock - great. The recent loan from Torchlight does not figure into the numbers below. See here for a complete list of exchanges and delays. META has engaged Hamilton Clark as financial advisor on its behalf. 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 forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known. 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. HALIFAX, NS / ACCESSWIRE / August 5, 2021 / Meta Materials Inc. (the "Company" or "META ") (NASDAQ:MMAT . 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. META has a growing patent portfolio with three core. 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. Is there a short squeeze? 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. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. META's CEO, George Palikaras to be appointed CEO of the Combined Company, along with the appointment of a new CFO. 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. Transformational Deal to Accelerate Growth, Scale and Commercialization of Metamaterials. 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. 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. (Source: Interactive Brokers, using a paper trading account). Additional Information and Where to Find It. The whole stock market depends only on whether there are more shares than idiots or more idiots than shares. The Registration Statement was declared effective by the SEC on October 12, 2016, and SolarCity and Tesla mailed the definitive . Our Standards: The Thomson Reuters Trust Principles. META has a growing patent portfolio with three core technologies; holographic, lithographic, and wireless sensing, designed for high volume applications. 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. 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 . 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 same is happening at the moment with Torchlight. Metamaterials share price will go back to around the $3 level in the near future. In its. 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. TRKA Stock: Have Retail Investors Found a Gem in Troika Media Group? I am not receiving compensation for it (other than from Seeking Alpha). 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.. The purpose of the merger is only so Metamaterial can be listed on the Nasdaq. Torchlight stock closed at $4.95 a share Friday, and Meta Material. META's portfolio comprises 28 patent families, 19 of which are granted. It's a. 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. 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. Metamaterials CEO,George Palikaraswill be appointed CEO of the combined company, along with the appointment ofKenneth L. Riceas CFO and Executive Vice President. SOURCE: Torchlight Energy Resources, Inc. View source version on accesswire.com: https://www.accesswire.com/606985/Torchlight-and-Metamaterial-Announce-Planned-Business-Combination, Bizarre New Materials Could Make Bendy Phones That Work, awarded "Best New Product in Commercial Aviation", META partnered with Airbus to develop and commercialize this technology, META has also partnered with Lockheed Martin and the Canadian Government, https://www.accesswire.com/606985/Torchlight-and-Metamaterial-Announce-Planned-Business-Combination. The reason why investing in short squeezes is a bad idea is because they dont last long. Metamaterial closed at only $0.58 on 12/14/20. Note that the company isn't promoting the business itself, but this is being done by a significant number of retail investors and traders. Note that the company isn't promoting the business itself, but this is being done by a significant number of retail investors and traders. TRKA Stock: Have Retail Investors Found a Gem in Troika Media Group? Sign up below to get this incredible offer! 3rd party valuation of potential recoverable hydrocarbons, 2. 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. 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. We are very excited to sign the definitive agreement with Metamaterial, statedJohn Brda, Torchlights CEO. This confirms to us that our analysis on TRCH is correct. 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. Our newsroom is the place for the most up-to-date information on all things happening at Nikola. They are composite structures, consisting of conventional materials such as metals and plastics, that are engineered. 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. like what happened at GameStop in March. I am not receiving compensation for it (other than from Seeking Alpha). 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. 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. Two Wall Street Legends will reveal their #1 recommendations and full "roadmap" for navigating the coming AI revolution. However, something unusual has been happening over the past few days. valued at much less. Metamaterial shares available in Canada. 2023 InvestorPlace Media, LLC. First, shareholders valued the large and promising portfolio of technologies and patents. With and end of year range of $8-$20 depending on production numbers and new partnerships. Eg Tesla (TSLA). 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. Disclosure: I am/we are short TRCH. GameStop Moderna Pfizer Johnson & Johnson AstraZeneca Walgreens Best Buy Novavax SpaceX Tesla. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Additional risks and uncertainties are described in or implied by the Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of Operations sections of Torchlights 2019 Annual Report on Form 10-K, filed onMarch 16, 2020and other reports filed from time to time with the SEC. Like the other metamaterials . Through this reverse merger Torchlight receives a 25% stake in META. 134,000 acres *72.5% interest at $1000 acre=97.15m + 12.75m (Hazel/Winkler) =109.9m/143.6m shares= 76.5 cent share, Medium Case estimate 3.7 billion recoverable barrels * 72.5% interest at 5 cents per barrel= 134m+12.75m (Hazel/Winkler) =146.75m= $1.00 per share, 134,000 acres *72.5% interest at $1300 acre=126.3m +12.75m (Hazel/Winkler) =126.3m/143.6m shares=96 cent share, 134,000 acres *72.5% interest at $2500 acre=242.88m +12.75m (Hazel/Winkler) =255.63m/143.6m shares= $1.78 per share, 134,000 acres *72.5% interest at $5000 acre=485.75m+12.75m (Hazel/Winkler) =500.25/143.6m shares=$3.48 per share, 134,000 acres *72.5% interest at $7500 acre=728.63m+12.75m (Hazel/Winkler) =741.38/143.6m shares=$5.16 per share, Medium Case estimate 3.7 billion recoverable barrels * 72.5% interest at 50 cents per barrel= 1.34bn+12.75m (Hazel/Winkler) =1.3527b = $9.42 per share, High Case estimate 5.0 billion recoverable barrels * 72.5% interest at 50 cents per barrel= 3.625+12.75m (Hazel/Winkler) =3.638b =$25.33 per share. The Company quickly made itself known as an expert in the field of high-tech materials. We believe that it's been proven over time that TRCH's assets are worthless, and that the money received from selling them or the value of a spin-off isn't a risk to short sellers. Although the management of Metamaterial believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. Torchlight Energy Resources announced on June 25 that it completed the necessary steps to make its merger with Meta Materials, Inc. official. Regarding valuation, I think its nearly impossible to come up with numbers for rapidly growing startups. I think the main risk for the bear case is a second short squeeze, like what happened at GameStop in March. The market for metamaterials is almost non-existent at the moment but is projected to grow to $10.7 billion SAM by 2030. With this reverse merger Metamaterials will be brought into the main market with Torch becoming the shell company. Many of META's functional materials and metamaterials are designed to increase the efficient use of light and other energy forms. have over 50,000 views each. Metamaterial shareholders may elect to receive either shares of Torchlight common stock or shares of a Canadian subsidiary of Torchlight, which will be exchangeable into Torchlight common stock (the Exchangeable Shares). "We look forward to driving significant value for shareholders in our mission to make every product smarter and more sustainable by utilizing the power of light and advanced materials.". 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. 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. 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. Today, I want to talk about how an interesting Canadian startup named Metamaterial (. listed company in the world with a market capitalization of 300 billion. I am not receiving compensation for it (other than from Seeking Alpha). 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. They have three major oil and gas assets. Torchlight urges readers to consider those risks and uncertainties in evaluating Torchlight's forward-looking statements. For TRCH stock investors, the new focus adds an unfamiliar dimension to what had been an oil and gas exploration and production company based out of Plano, Texas, with a total of four full-time employees. Wall Street Legends will reveal their # 1 recommendations and full `` roadmap '' for navigating coming! 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