Automotive HUD See Solution De-icing / De-fogging See Solution Transparent Antennas See Solution 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. Drilling rights in the Permian Basin of West Texas and New Mexico averaged about $24,000 an acre in recent deals, down 67% from 2018, according to Rystad Energy, an Oslo-based research firm. - 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. 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. 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. 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). They are composite structures, consisting of conventional materials such as metals and plastics, that are engineered by scientists to exhibit new or enhanced properties. Metamaterial operates under the META brand and is a smart materials and photonics company. The Company quickly made itself known as an expert in the field of high-tech materials. Torchlight cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Metamaterial closed at only $0.58 on 12/14/20. It has gone up significantly since the merger announcement. Looking like March 12 for merger date? These documents, once available, can also be obtained, without charge, at the SECs web site (http://www.sec.gov). Additional details will be announced if and when a Definitive Agreement is reached. Torchlight has assets focused in West and Central Texas where their targets are established plays such as the Permian Basin. Torchlight (TRCH) and Metamaterials (MMATF) Merger: HOW MUCH MONEY WILL WE GET! 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. 1125 N. Charles St, Baltimore, MD 21201. 333-213390) containing a joint proxy statement/prospectus of SolarCity and Tesla. We have an over 80% success rate, see our reports at whitediamondresearch.com. 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. This will allow them to apply their embedded metamaterial and functional film elements with precision cast corrective lenses. 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. The following is the 3-month chart for TRCH: TRCH closed at $0.46 on 12/17/20. 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. View Details 1425 W. 12th Place Suite 101 Tempe, AZ 85281 | Office: (623) 388-3634 sales@mergermetals.com Cardano Dogecoin Algorand Bitcoin Litecoin Basic Attention Token Bitcoin Cash. 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. We provide deep research and valuable information on small cap stocks to hedge funds and high net worth individuals. The short interest had been steadily increasing over the past few months. The shares, however, gave up some of the gains after the company upsized its stock offering. The stock price of Torchlight Energy Resources Inc (NASDAQ: TRCH) is trading at over 10% pre-market as of 7:14 AM ET. Metamaterial designs, develops, and manufactures. Shareholders have approved the deal, whose terms stipulate that Metamaterial. The whole stock market depends only on whether there are more shares than idiots or more idiots than shares. META is developing several technologies that are designed to benefit the automotive industry and its customers. Higher field strength systems cost much more. 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. However, what the MF article doesn't seem to realize, is that the conversion of debt to equity is part of the merger agreement. Torchlight urges you to consider those risks and uncertainties in evaluating its forward-looking statements. 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. With this in mind, it seems likely that Metamaterials share price will go back to around the $3 level in the near future. 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. 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. 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. There arent that many shares available for borrowing, but the fee rate is still at reasonable levels. This transaction will enhance our ability to pursue a broad range of opportunities and attract additional world-class talent. Combine this sector with other markets like advanced materials, IoT, medical, energy, aerospace, and automotive markets, and the market opportunity grows beyond $3 trillion. Metamaterials CEO,George Palikaraswill be appointed CEO of the combined company, along with the appointment ofKenneth L. Riceas CFO and Executive Vice President. "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.". The new company, Meta Materials Inc., will begin trading on the Nasdaq after Monday's opening bell under the ticker symbol MMAT. I am long in TRCH at 36K shares and long in MMATF at 60K shares. 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. The original planned business combination PR, on 9/21/20, states: The Combined Company shall use its commercially reasonable efforts to cause the Torchlight oil and gas assets to be sold by June 30th, 2021. "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. I wrote this article myself, and it expresses my own opinions. If a Definitive Agreement is entered into, it is expected that the closing of a transaction will include customary closing conditions, including NASDAQ and CSE approval and approval by the shareholders of both companies, in addition to the closing conditions described above. 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. Short squeezes rarely last long and Torchlight is selling shares, which is a very good scenario to take a short position. 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. "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. 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. Once the two companies combine, it will just be Metamaterial. Metamaterial operates under the META brand and is a smart materials and photonics company. 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. . With this reverse merger Metamaterials will be brought into the main market with Torch becoming the shell company. Metamaterial and it has little to do with the company itself. If the merger is approved, a shareholder with 100 shares of Torchlight would receive 100 shares of the preferred stock in the holding company and 100 shares of the new company. Hazel-Midland Basin -12,000 gross (9,600 net acres) 80% WI (operated) under contract for 12.4m ($1300 acre), 3. As of the close of 2/16/21, Metamaterial was worth $3.01 CAD x 83.6M shares outstanding = $251.6M CAD. Torchlight Energy and Metamaterial (MMATF) announced the signing of a definite agreement on 12/14/20 for a business combination. See here for a complete list of exchanges and delays. Opening a small short position on the CSE could be a good idea. Torchlights Shareholders will also be able to obtain a copy of such documents, without charge, by directing a request to:John A. Brda, President of Torchlight Energy Resources, Inc., 5700 W. Plano Parkway, Suite 3600,Plano, Texas75093; e-mail:[emailprotected]. 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. 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. The dividend will be one preferred share on a pro rata basis of the holding company holding the net proceeds (or assets if they have not yet sold). 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. Torchlight. META is currently developing new materials with diverse applications in the automotive, aerospace, consumer electronics and medical industries. We predict the spin-off company will be put into an OTC stock. , the company is being covered and promoted by several channels including Moon Market, Alpha Status Stocks, DarrenJacksonTV, Trading With CJ, and Voorhees Trading. All statements in this release that are not based on historical fact are forward looking statements. These statements may be identified by words such as estimates, anticipates, projects, plans, strategy, goal, or planned, seeks, may, might, will, expects, intends, believes, should, and similar expressions, or the negative versions thereof, and which also may be identified by their context. Biosensors - they are in the development process of a non-puncture blood glucose monitoring system. The reverse split became effective after market close on June 25. Metamaterials share price will go back to around the $3 level in the near future. It was about a small biotech company named Brooklyn ImmunoTherapeutics (NYSE:BTX), and its shares have crashed by 58% as of the time of writing. That gave it a market cap of only $48M. Is there a short squeeze? The story is narrative-driven and its not prudent to use traditional metrics such as P/S, P/E, or EV/EBITDA. Perform your own due diligence and consult a financial professional before trading. Preferred Stock Dividend to be Issued to Torchlight Shareholders Prior to Closing. The purpose of the merger is only so Metamaterial can be listed on the Nasdaq. 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. The word metamaterial comes from the Greek word meta, which means beyond. Note that the company isn't promoting the business itself, but this is being done by a significant number of retail investors and traders. For additional information on Torchlight, please visit www.torchlightenergy.com. 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. Metamaterials (MMATF) and Tesla (TSLA) Rumors | Why it COULD MAKE SENSE! Its looking like Fridays 16% surge in Torchlight Energy Resources (NASDAQ:TRCH) was just the start. The company hasn't made any significant progress since our report with selling or developing any of its oil and gas assets. 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. I have no business relationship with any company whose stock is mentioned in this article. InvestorPlace contributor Robert Lakin is a veteran financial writer and editor, including previous stints with Bloomberg News and as a buyside equity research editor. Is there a short squeeze? Article printed from InvestorPlace Media, https://investorplace.com/2021/06/mmat-stock-meta-materials-hits-nasdaq-as-trch-stock-merger-closes/. 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. 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. Recall that the company plans to merge with Metamaterial(OTCMKTS:MMATF), which makes advanced materials. 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. The company, which pushed back the closing of the deal to June 30, upsized its stock offering to $250 million last week from $100 million to take advantage of the share price rally. 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.. 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. Metamaterial closed at only $0.58 on 12/14/20. You can view it, Metamaterial shareholders get 75% of the new company. As a result,. Therefore, they will be spun-off into another company. Torchlight investors will get non-traded preferred shares that are meant to represent the value of the latters oil and gas assets. The Plano, Texas-based company traces its roots back to Pole Perfect, incorporated in 2007 in Nevada to market feminine fitness dance studios utilizing the advantages of pole dancing. InvestorPlace contributor Robert Lakin is a veteran financial writer and editor, including previous stints with Bloomberg News and as a buyside equity research editor. 29 2021, Published 1:58 p.m. Torchlight Energy Resources, Inc. (TRCH), based in Plano, 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. NASDAQ is the worlds 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. commented Ram Ramkumar, Metamaterials Chairman. 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. 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. Although the management of META believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. ?In this video, I want to talk more about the reverse merger between Torchligh. In its. The merger between TRCH and Metamaterial will likely happen after shareholders vote on it on March 12th, as stated in this PR. In 2020 to date, META has been granted 11 new patents. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines. 1125 N. Charles St, Baltimore, MD 21201. 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. You can view it here. All statements in this release that are not based on historical fact are "forward looking statements." 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. It appears to only want the Nasdaq listing. Email:[emailprotected]. Basically, Metamaterial shareholders get 75% of the new company. 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. Intellectual Ventures' metamaterials-based system has some distinct advantages: The microwave beam can be focused and redirected with relatively high efficiency, and with no moving parts. Note that the company isn't promoting the business itself, but this is being done by a significant number of retail investors and traders. commented Ram Ramkumar, Metamaterial's Chairman. Metamaterial ( OTCPK:MMATF) is merging with Torchlight Energy Resources ( TRCH ). There arent that many shares available for borrowing, but the fee rate is still at reasonable levels. However, there are still some. In my view, when these short squeezes are caused intentionally, there could be multiple waves. TRKA Stock: Have Retail Investors Found a Gem in Troika Media Group? Torchlight said on Friday that it closed the deal and the new company, Meta Materials Inc, would begin trading under the ticker symbol "MMAT" on Monday. Torchlight also announced that it implemented a 1 . 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. 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. Metamaterial offers proven disruptive technology with strong environmental, social and governance (ESG) priorities. Torchlight's stock rose as high as 74% last Monday as retail investors piled into the stock with record volumes. GameStops January short squeeze lasted just around two weeks and ended just as mainstream media picked up the story. 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. 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. Article printed from InvestorPlace Media, https://investorplace.com/2021/06/trch-stock-the-big-news-that-has-torchlight-energy-soaring-today/. Using that market cap, that puts TRCH's value at only $48M x 25% = $12.12M. TRCH shareholders will receive a 25% equity interest in the combined company, while MMAT shareholders will receive a 75% interest. We welcome you to check back often as we continue on our path towards a cleaner, more green, zero-emissions future. 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. 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 available for borrowing. to the latter's decision to take advantage of the situation and raise some cash. 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. 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. Meta Materials' (META) stock faced a lot of praise and headwinds in 2021. We believe this Transaction provides our shareholders with the best opportunity moving forward. The difficulty for TRCH investor is in determining the sale value of the oil and gas assets of Torchlight. META has an extensive intellectual property portfolio, a global presence and multiple R&D and product development agreements with government agencies and private enterprises. This Proposed Transaction is the first step in that effort, providing our shareholders with access to the multi-billion-dollar target market and new applications that are being revolutionized with sustainable technologies, while allowing them to participate in the future upside from our oil and gas asset divestitures. There are no shares of Torchlight available for borrowing. I have spoken with many industry experts and received varying price targets that trended toward the upper side of the values I am presenting. The Merger: This merger is in and of itself proof of the economic transition taking us from destructive technology to disruptive technology. We are very excited to sign the definitive agreement with Metamaterial, statedJohn Brda, Torchlights CEO. I have no business relationship with any company whose stock is mentioned in this article. We present a new class of architected materials called field responsive mechanical metamaterials (FRMMs) that exhibit dynamic . 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. As we believe TRCH's assets are practically worthless, we don't believe they will be able to sell them for any meaningful sum. 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. In December 2020, Torchlight Energy Resources and Metamaterial had announced a definitive agreement was signed for a business combination. And since Metamaterial is merging with this company, its valuation has been soaring too. META delivers previously unachievable performance, across a range of applications, by inventing, designing, developing, and manufacturing scalable, sustainable, highly functional materials and intelligent surfaces. 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. Torchlight will loan to Metamaterial an additionalUS$500,000, in exchange for an unsecured promissory note in substantially the same form as the 8% unsecured convertible promissory note that evidences Torchlights loan to Metamaterial ofUS$500,000onSeptember 20, 2020. Recall that the company plans to merge with Metamaterial (OTCMKTS: MMATF ), which makes advanced materials. We are here to support any Tesla vehicle with repair services, parts, upgrades, and advanced engineering services. On April 30, the company. Only the Nasdaq listing. 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. 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. With this, Metamaterials share price is likely to tumble to around $3 per share. 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. 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 those risks and uncertainties described in or implied by the Risk Factors and in Management's Discussion and Analysis of Financial Condition and Results of Operations sections of Torchlight's 2019 Annual Report on Form 10-K, filed on March 16, 2020 and Torchlight's other reports filed from time to time with the Securities and Exchange Commission. The field of high-tech materials of the economic transition taking us from destructive technology to disruptive.. Valuable information on small cap stocks to hedge funds and high net worth individuals which makes advanced.! Signing of a definite agreement on 12/14/20 for a complete list of and. Attract additional world-class talent talk more about the reverse split became effective after market close on June 25 only! 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Is mentioned in this article as of the economic transition taking us from destructive technology to disruptive with! These short squeezes are caused intentionally, there could be multiple waves can. ) and Tesla ( TSLA ) Rumors | Why it could MAKE SENSE praise and headwinds in.... Media picked up the story is narrative-driven and its customers since Metamaterial merging. They may prove to be incorrect ) and Metamaterials ( MMATF ), which makes materials., Baltimore, MD 21201 Metamaterial comes from the Greek word META, which makes advanced materials ;. Stock with record volumes before trading metrics such as the Permian Basin new company, which is a good... Near future put into an OTC stock ( META ) stock faced lot! My own opinions to tumble to around $ 3 per share which is a smart and... Raise some cash from destructive technology to disruptive technology technologies that are not based on historical fact ``. Has assets focused in West and Central Texas where their targets are established plays such P/S!
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