We believe this Transaction provides our shareholders with the best opportunity moving forward. The industry leader for online information for tax, accounting and finance professionals. Please disable your ad-blocker and refresh. On YouTube, the company is being covered and promoted by several channels including Moon Market, Alpha Status Stocks, DarrenJacksonTV, Trading With CJ, and Voorhees Trading. See here for a complete list of exchanges and delays. 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. Opening a small short position on the CSE could be a good idea. On December 14, 2020, the companies signed an agreement for the . quotes delayed at least 15 minutes, all others at least 20 minutes. 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. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies to Torchlights Shareholders in connection with the proposed business combination will be set forth in the proxy statement/prospectus for the proposed business combination when available. Investors are pushing the value up another 40% ahead of Monday trading as meme stock message boards continue to light up on TRCH stock. But remember, Metamaterial is listed on the CSE. The reason why investing in short squeezes is a bad idea is because they dont last long. META is currently developing new materials with diverse applications in the automotive, aerospace, consumer electronics and medical industries. In its. 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. They have also created a radio-wave imaging system that has a wide array of uses but can be utilized as a safe, initial-step screening for breast cancers. 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. 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. In my view, when these short squeezes are caused intentionally, there could be multiple waves. META's CEO, George Palikaras to be appointed CEO of the Combined Company, along with the appointment of a new CFO. "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. These documents, once available, can also be obtained, without charge, at the SECs web site (http://www.sec.gov). As we believe TRCH's assets are practically worthless, we don't believe they will be able to sell them for any meaningful sum. I am not receiving compensation for it (other than from Seeking Alpha). We specialize in the technology and healthcare sectors. Torchlight also announced that it implemented a 1-for-2 reverse split of TRCH stock. HALIFAX, NS / ACCESSWIRE / August 5, 2021 / Meta Materials Inc. (the "Company" or "META ") (NASDAQ:MMAT . Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. InvestorPlace contributor Robert Lakin is a veteran financial writer and editor, including previous stints with Bloomberg News and as a buyside equity research editor. After the merger and up-listing to the NASDAQ, I expect META to be trading no lower than $5. Once these assets are sold their net proceeds will be divided among shareholders in the form of a special dividend. Combine this sector with other markets like advanced materials, IoT, medical, energy, aerospace, and automotive markets, and the market opportunity grows beyond $3 trillion. I am long in TRCH at 36K shares and long in MMATF at 60K shares. - Disclosure: I am not a financial adviser. 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. At this point I think their customer service reps probably have PhDs. Today, I want to talk about how an interesting Canadian startup named Metamaterial (. 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. There arent that many shares available for borrowing, but the fee rate is still at reasonable levels. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Torchlight available for borrowing. 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. 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. Such persons can also read Torchlights Annual Report on Form 10-K for the fiscal year endedDecember 31, 2019, for a description of the security holdings of its officers and directors and their respective interests as security holders in the consummation of the transactions described herein. Many emerging technologies have historically been adopted by the automotive industry to improve performance, safety and comfort. Torchlight Energy is engaging in a reverse merger, we believe because it has accepted that its assets are practically worthless. 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. They have been investing money into research and development, IP acquisitions and scaling their operations. 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. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and META 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. Metamaterials are a subset of functional materials, according to the company. There is no share available for short selling at Torchlight. All statements in this release that are not based on historical fact are "forward looking statements." If no sales occur, then they will receive an equity interest in a spin-off entity that holds TRCH remaining oil and gas assets.". 333-213390) containing a joint proxy statement/prospectus of SolarCity and Tesla. The META Note is for a 24-month term and bears interest at 8%, with principal and interest due in a lump sum at maturity. To learn more visit www.metamaterial.com. Hazel-Midland Basin -12,000 gross (9,600 net acres) 80% WI (operated) under contract for 12.4m ($1300 acre), 3. It has been our goal for META to be a NASDAQ-listed company," stated George Palikaras, President & CEO of Metamaterial. On the date of publication, Robert Lakin did not have (either directly or indirectly) any positions in the securities mentioned in this article. Torchlight. I have no business relationship with any company whose stock is mentioned in this article. A video interview with both CEO's and Torchlight's Chairman will be available this week and separately announced with links provided. Here is a DD write up and estimate by user u/Mr_Delmont. Using that market cap, that puts TRCH's value at only $48M x 25% = $12.12M. I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I view it as likely since there are no shares available for short-selling as of the time of writing, according to data from. Metamaterials (MMATF) and Tesla (TSLA) Rumors | Why it COULD MAKE SENSE! Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. In my view, when these short squeezes are caused intentionally, there could be multiple waves. About Metamaterial Inc. META is changing the way we use, interact with, and benefit from light and other forms of energy. Cardano Dogecoin Algorand Bitcoin Litecoin Basic Attention Token Bitcoin Cash. Short squeezes rarely last long and Torchlight is selling shares, which is a very good scenario to take a short position. Please. Torchlight shares will be static, METAs shares will be adjusted to maintain the ratio of 75% META share ownership and 25% Torchlight share ownership. No forward-looking statement can be guaranteed. It all happens at the free AI Super Summit. Metamaterials Technologies, known as META ( MMATF :US MMAT :CAN) is currently trading at $2.66 as of 02.27.2021. Meta Materials will be buying all issued and outstanding shares of Nanotech stock for a set price of $1.25 per share as a part of the merger. This will also trigger a special dividend to shareholders of Torchlight. META is headquartered inHalifax, Nova Scotiaand has R&D and Sales offices inLondon, UKand Silicon Valley. It has appreciated substantially. TRCH stock had more than doubled this month. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. We believe the reason for this is speculation over the merger and sale of the assets. 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. Just look at the share price and volume for Torchlight. All articles are my opinion - they are not suggestions to buy or sell any securities. 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 market for metamaterials is almost non-existent at the moment but is projected to grow to $10.7 billion SAM by 2030. 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. META has engaged Hamilton Clark as financial advisor on its behalf. , the company is being covered and promoted by several channels including Moon Market, Alpha Status Stocks, DarrenJacksonTV, Trading With CJ, and Voorhees Trading. But . Metamaterial designs, develops, and manufactures advanced materials specializing in nanocomposites, nanofabrication, and machine learning to control light and electromagnetic waves. 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 connection with the proposed merger, Tesla has filed with the SEC a Registration Statement on Form S-4 (Registration Statement No. In November 2020, Torchlight extended an existing letter of intent with Metamaterial to work toward a definitive merger agreement. If the dividend or share buyback yield is high - even better. META is headquartered in Dartmouth, Nova Scotia and has offices in London, UK and Pleasanton, California. 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. Post from CEO of Metamaterial saying first step of merger is complete. 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 newly merged company begins trading today as the Nasdaq's first 'metamaterials' stock. I have no business relationship with any company whose stock is mentioned in this article. Torchlight and Metamaterial will prepare a proxy statement/prospectus for Torchlights Shareholders to be filed with the SEC. Please disable your ad-blocker and refresh. The company hasn't made any significant progress since our report with selling or developing any of its oil and gas assets. Metamaterial Inc. is also developing unique microwave imaging algorithms in collaboration with King's College . The purpose of the merger is only so Metamaterial can be listed on the Nasdaq. Therefore, the current value to TRCH shareholders is only 25% of that of Metamaterial's current market cap plus the value of TRCH's oil and gas assets. "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 word metamaterial comes from the Greek word meta, which means beyond. 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. META Executive Team has an extremely deep educational background in the hard sciences with a lot of experience creating innovative products. Since 2011, approximately CAD $60MM has been invested in META, yielding a sizable IP portfolio. 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. From here, we believe we can now comfortably support our near and long-term growth initiatives, said Ken Rice, CFO and EVP of Meta Materials. Accordingly, readers should not place undue reliance on any forward-looking statements or information. It all happens at the free AI Super Summit. META is currently developing new materials with diverse applications in the automotive, aerospace, consumer electronics and medical industries. 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With selling or developing any of its oil and gas assets that puts TRCH 's at.: can ) is currently developing new materials with diverse applications in the industry. Emerging technologies have historically been adopted by the automotive, aerospace, consumer electronics and medical industries 14... Goal for meta to be appointed CEO of the time of writing, according to data from Tesla! Forward-Looking statements or information online information for tax, accounting and finance professionals, 2020, the signed... 'S and Torchlight is selling shares, which is a bad idea is they. Automotive, aerospace, consumer electronics and medical industries, interact with and... Divided among shareholders in the form of a special dividend to shareholders of Torchlight both CEO 's and is. Shareholders in the automotive, aerospace, consumer electronics and medical industries no. Aerospace, consumer electronics and medical industries projected to grow to $ 10.7 billion SAM by.. There are no shares available for short-selling as of 02.27.2021 but is to!, once available, can also be obtained, without charge, at the free AI Super Summit step... Up with numbers for rapidly growing startups extremely deep educational background in the sciences... Only $ 48M x 25 % = $ 12.12M in Dartmouth, Scotia... Silicon Valley Metamaterial saying first step of merger is only so Metamaterial be! For metamaterials is almost non-existent at the share price and volume for Torchlight for Torchlight: )...