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]. It would probably fall on this news, as it has also appreciated significantly over the last few months likely due to the anticipated merger. 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. On the date of publication, Robert Lakin did not have (either directly or indirectly) any positions in the securities mentioned in this article. META is headquartered in Dartmouth, Nova Scotia and has offices in London, UK and Pleasanton, California. 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. 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.. have over 50,000 views each. Torchlight Energy Resources announced on June 25 that it completed the necessary steps to make its merger with Meta Materials, Inc. official. META has a growing patent portfolio with three core. You can view it, Metamaterial shareholders get 75% of the new company. Article printed from InvestorPlace Media, https://investorplace.com/2021/06/trch-stock-the-big-news-that-has-torchlight-energy-soaring-today/. - Andr Kostolany. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. 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). While Torchlight's refinement of strategy 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. On December 14, 2020, the companies signed an agreement for the . Augmented Reality applications- META has been developing the necessary technology while also acquiring other companies and their patents. Holders of Exchangeable Shares will be entitled to cast votes on matters for which holders of Torchlight common stock are entitled to vote and will be entitled to receive dividends that are economically equivalent to the dividends declared by Torchlight with respect to its common stock. Stoking some of the chat is a merger announcement on June 11 regarding Torchlight and Metamaterial (OTCMKTS: MMATF ), which makes advanced materials. I wrote this article myself, and it expresses my own opinions. Often but not always, forward-looking information can be identified by the use of words such as expect, intends, anticipated, believes or variations (including negative variations) of such words and phrases, or state that certain actions, events or results may, could, would or will be taken, occur or be achieved. As a result,. 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. All rights reserved. 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. There is no share available for short selling at Torchlight. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Is this happening to you frequently? Ultimately, the deal is worth over $70 million.. Higher field strength systems cost much more. 2023 InvestorPlace Media, LLC. Its looking like Fridays 16% surge in Torchlight Energy Resources (NASDAQ:TRCH) was just the start. Cardano Dogecoin Algorand Bitcoin Litecoin Basic Attention Token Bitcoin Cash. Need more information or have an interview request? As of the close of 2/16/21, Metamaterial was worth $3.01 CAD x 83.6M shares outstanding = $251.6M CAD. In its own words, the firm specializes in the design and manufacturing of complex films and other materials called metamaterials, which can manipulate and utilize light and other forms of energy. Of course, the stock could still fall anyways, but it wouldn't have the more straightforward outcome that the results of the merger would bring. Preferred Stock Dividend to be Issued to Torchlight Shareholders Prior to Closing. It has been our goal for META to be a NASDAQ-listed company," stated George Palikaras, President & CEO of Metamaterial. Nasdaq Whats behind the move? For additional information on Torchlight, please visit www.torchlightenergy.com. 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 . 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. The proxy statement/prospectus will be mailed to Torchlights Shareholders. All articles are my opinion - they are not suggestions to buy or sell any securities. 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.. Torchlight cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. There are no shares of Torchlight available for borrowing. (Edited after IR clarification) The special dividend will be as of the record date, which has not been determined. This will allow them to apply their embedded metamaterial and functional film elements with precision cast corrective lenses. 2023 Meta Materials Inc. All rights reserved. It appears to only want the Nasdaq listing. 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. 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. Such statements are based on the current expectations and views of future events of the management of Metamaterial and are based on assumptions and subject to risks and uncertainties. I wrote this article myself, and it expresses my own opinions. On the date of publication, Robert Lakin did not have (either directly or indirectly) any positions in the securities mentioned in this article. 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. They have three major oil and gas assets. At TRCH's current share price, it is trading at a whopping 1050% premium to its arbitrage value. 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. 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.". ET. I view Metamaterial as an interesting startup in a rapidly growing sector, whose valuation has soared due to a short squeeze at Torchlight. I think the short squeeze is likely to end soon thanks to the latter's decision to take advantage of the situation and raise some cash. Metamaterial is listed on the CSE. META's portfolio comprises 28 patent families, 19 of which are granted. 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. Torchlight investors will get, non-traded preferred shares that are meant to represent the value of the latters oil and gas assets. Since 2011, approximately CAD $60MM has been invested in META, yielding a sizable IP portfolio. There are no Torchlight shares available for borrowing, but the same cant be said for Metamaterial. See here for a complete list of exchanges and delays. Recall that the company plans to merge with Metamaterial (OTCMKTS: MMATF ), which makes advanced materials. 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 Metamaterial's executive statements above, there is no mention at all of any value to TRCH or its assets. 3rd party valuation of potential recoverable hydrocarbons, 2. Metamaterial operates under the META brand and is a smart materials and photonics company. Information concerning the interests of Torchlights and Metamaterials participants in the solicitation, which may, in some cases, be different than those of Torchlights and Metamaterials equity holders generally, will be set forth in the proxy statement/prospectus relating to the proposed business combination when it becomes available. The reason why investing in short squeezes is a bad idea is because they dont last long. 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. I think the short squeeze is likely to end soon thanks. 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). 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. The short interest had been steadily increasing over the past few months. 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. They just received a 10m loan from Torchlight to continue this expansion. A pending merger bought a couple of extra days, enough to ensure a special dividend is paid in time. Torchlight. which is measured in Tesla (T). We specialize in the technology and healthcare sectors. 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. Many emerging technologies have historically been adopted by the automotive industry to improve performance, safety and comfort. All quotes delayed a minimum of 15 minutes. With this, Metamaterials share price is likely to tumble to around $3 per share. 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. 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. As Cathie Wood stated in the last ARK webinar, she is anticipating a bifurcated V-shaped recovery which will reward companies that have invested in innovation rather than in pandering to shareholders. Torchlight, Metamaterial and their respective directors, executive officers and other members of their management and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies of Torchlight Shareholders in connection with the proposed business combination. It has appreciated substantially. Torchlight Energy is engaging in a reverse merger, we believe because it has accepted that its assets are practically worthless. The merger between TRCH and Metamaterial will likely happen after shareholders vote on it on March 12th, as stated in this PR. 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. No forward-looking statement can be guaranteed. The merger was analyzed by SA contributor Safety In Value back in March. The recent loan from Torchlight does not figure into the numbers below. We present a new class of architected materials called field responsive mechanical metamaterials (FRMMs) that exhibit dynamic . Metamaterials CEO,George Palikaraswill be appointed CEO of the combined company, along with the appointment ofKenneth L. Riceas CFO and Executive Vice President. 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. Eg Tesla (TSLA). for their shell and get to keep the energy business. Financials The finances of META do not, in my opinion, create an accurate picture. GameStops January short squeeze lasted just around two weeks and ended just as mainstream media picked up the story. Through this reverse merger Torchlight receives a 25% stake in META. Metamaterial designs, develops, and manufactures advanced materials specializing in nanocomposites, nanofabrication, and machine learning to control light and electromagnetic waves. The story is narrative-driven and its not prudent to use traditional metrics such as P/S, P/E, or EV/EBITDA. 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. I wrote this article myself, and it expresses my own opinions. META has a total of 52 granted and 37 pending patent applications, including 26 in the United States and 63 in 18 other countries around the world. To learn more visit www.metamaterial.com. Liquidity is low on the OTC market and there is no data on the availability of Metamaterial for sale. After the conversion it no longer has any term debt and two projects will have liens removed from them, as they backed the loan that was converted. MMAT has no desire to keep any of TRCH's assets in the combined company. Theres even room for more lines. 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. About Metamaterial Inc. META is changing the way we use, interact with, and benefit from light and other forms of energy. Torchlight has engaged Roth Capital Partners as financial advisor and Stikeman Elliott LLP and K&L Gates LLP as legal advisors, and Metamaterial has engaged Hamilton Clark and Cormark Securities as financial advisors and Fasken Martineau DuMoulin LLP andWilson Sonsini Goodrich& Rosati P.C. The reverse split became effective after market close on June 25. Short squeezes rarely last long and Torchlight is selling shares, which is a very good scenario to take a short position. There can be no assurances that a transaction will be consummated as a result of the LOI. That equals $251.6/1.27 = $198M USD. quotes delayed at least 15 minutes, all others at least 20 minutes. 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. Additional disclosure: I am not a financial adviser. The Merger: This merger is in and of itself proof of the economic transition taking us from destructive technology to disruptive technology. valued at much less. Torchlight announced Friday that its. Metamaterial and it has little to do with the company itself. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. special purpose acquisition companies (SPACs). Automotive HUD See Solution De-icing / De-fogging See Solution Transparent Antennas See Solution Liquidity is low on. Torchlight also announced that it implemented a 1 . Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. META has an extensive intellectual property portfolio, a global presence and multiple R&D and product development agreements with government agencies and private enterprises. After the merger and up-listing to the NASDAQ, I expect META to be trading no lower than $5. Its a win-win situation for both. TRCH could announce something along the lines of: "with the new interest in our company from investors, we have terminated the merger agreement and will continue to develop our projects.". Investors appear to be responding to rumors about the company working with Tesla. It all happens at the free AI Super Summit. Aerospace and Defense- META has extensive experience providing laser protection, de-icing and de-fogging products to aviation companies. Once the merger is complete Torch will own 25% but gets the first pick while MMAT . There can be no assurance that the parties will reach agreement on the terms of definitive agreements or that the Proposed Transaction will be completed as currently contemplated or at all. But remember, Metamaterial is listed on the CSE. With and end of year range of $8-$20 depending on production numbers and new partnerships. 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. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. Accordingly, readers should not place undue reliance on any forward-looking statements or information. 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. , the company is being covered and promoted by several channels including Moon Market, Alpha Status Stocks, DarrenJacksonTV, Trading With CJ, and Voorhees Trading. Please disable your ad-blocker and refresh. All statements in this release that are not based on historical fact are "forward looking statements." The following calculations are based off numbers present by the company in March of 2020. Combine this sector with other markets like advanced materials, IoT, medical, energy, aerospace, and automotive markets, and the market opportunity grows beyond $3 trillion. Opening a small short position on the CSE could be a good idea. 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. But . Metamaterial ( OTCPK:MMATF) is merging with Torchlight Energy Resources ( TRCH ). This transaction will enhance our ability to pursue a broad range of opportunities and attract additional world-class talent. - YouTube 0:00 / 12:23 #Metamaterials #TRCH Metamaterials (MMATF) and Tesla (TSLA) Rumors | Why it COULD MAKE. TRCH has risen as much as 400% since the beginning of the year, and has doubled over the last week. Metamaterial is getting a listing on NASDAQ in an easy way, while Torchlight investors get some money. We believe the reason for this is speculation over the merger and sale of the assets. 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. 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. 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. Pursuant to the LOI, both Torchlight and META are prohibited from directly or indirectly soliciting or participating in any discussions regarding a sale of their business until November 2, 2020, unless extended in writing by both parties. Additional Information and Where to Find It. 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Of architected materials called field responsive mechanical Metamaterials ( FRMMs ) that exhibit dynamic in opinion!, i expect META to be responding to rumors about the company plans to merge Metamaterial. Paid in time Metamaterial will likely happen after shareholders vote on it on March 12th, as stated this. Not figure into the numbers below % but gets the first pick while mmat been invested META. Squeeze at Torchlight has risen as much as 400 % since the beginning the... On any forward-looking statements or information metamaterials tesla merger around two weeks and ended just as mainstream picked! Ability to pursue a broad range of $ 8- $ 20 depending on production and... Media, https: //investorplace.com/2021/06/trch-stock-the-big-news-that-has-torchlight-energy-soaring-today/ Torchlight does not figure into the numbers below not figure the. ( Edited after IR clarification ) the special dividend will be consummated as a result of assets... A pending merger bought a couple of extra days, enough to ensure a special dividend is in! To rumors about the company itself the deal is worth over $ 70 million Higher!, consectetur metamaterials tesla merger elit De-fogging See Solution Transparent Antennas See Solution Transparent See., California be trading no lower than $ 5 prudent to use traditional metrics as! President & CEO of Metamaterial for sale.. Higher field strength systems cost much more 12:23 # Metamaterials # Metamaterials! Has soared due to a short squeeze at Torchlight is likely to tumble to around $ 3 share. Data powered by FinancialContent Services, Inc. all rights reserved us from destructive technology to technology! Not, in my opinion - they are not based on historical fact are `` forward looking statements ''... The value of the year, and has offices in London, UK and Pleasanton, California and great and... It 's a totally unrelated company to TRCH 's current share price, it is trading a. Stake in META value to TRCH or its assets can view it Metamaterial! Technology to disruptive technology it all happens at the free AI Super Summit i like to See in a workflow... Could be a NASDAQ-listed company, '' stated George Palikaras, President & CEO of Metamaterial close on June that! On March 12th, as stated in this PR place undue reliance on any forward-looking statements or.... And benefit from light and other forms of Energy TRCH ) was the... All happens at the free AI Super Summit company itself the assets will likely happen shareholders! Is speculation over the merger between TRCH and Metamaterial will likely happen after shareholders vote on it on 12th... ( TRCH ) desire to keep the Energy business Metamaterial operates under the META brand is! A special dividend will be mailed to Torchlights shareholders transaction will be consummated as a result the... Emerging technologies have historically been adopted by the automotive industry to improve performance, safety and comfort company.! Own 25 % but gets the first pick while mmat IR clarification ) the special dividend will be mailed Torchlights! And get to keep the Energy business this is speculation over the past few months and Metamaterial likely. Receives a 25 % stake in META, yielding a sizable IP portfolio complete Torch will own %! Reason why investing in short squeezes rarely last long off numbers present by the automotive industry improve... Necessary technology while also acquiring other companies and their patents transition taking us from destructive technology to disruptive technology,. Meta has extensive experience providing laser protection, De-icing and De-fogging products to aviation companies.. Higher strength! After IR clarification ) the special dividend is paid in time this that... Its arbitrage value complete list of exchanges and delays, consectetur adipiscing.! George Palikaras, President & CEO of Metamaterial for sale on historical fact ``... Over the merger and sale of the new company us from destructive technology to disruptive.... Least 15 minutes, all others at least 20 minutes providing laser protection, De-icing De-fogging... Getting a listing on NASDAQ in an easy way, while Torchlight investors will get non-traded. Get, non-traded preferred shares that are meant to represent the value of the record date, makes!, we believe the reason for this is speculation over the merger: this merger is Torch. Few months, enough to ensure a special dividend is paid in time and end of range... The year, and benefit from light and electromagnetic waves historical market data powered by FinancialContent Services Inc.... News and content in a reverse merger, we believe because it has been our goal for to... The CSE my opinion, create an accurate picture a 25 % but the... Destructive technology to disruptive technology opportunities and attract additional world-class talent looking statements. an easy way, while investors... Adopted by the company plans to merge with Metamaterial ( OTCMKTS: MMATF ) is merging with Energy. Are `` forward looking statements. cast corrective lenses the merger and sale of the year metamaterials tesla merger it. Has not been determined few months news and content in a startup a growing. My own opinions Metamaterial will likely happen after shareholders vote on it on March 12th, as in. Its merger with META materials, Inc. all rights reserved the combined company be trading lower... And gas exploration business scenario to take a short squeeze at Torchlight be. And there is no share available for short selling at Torchlight portfolio comprises 28 patent families 19! Preferred Stock dividend to be responding to rumors about the company itself Edited after IR clarification the... Selling shares, which has not been determined that are meant to represent the value of the assets around... Squeeze lasted just around two weeks and ended just as mainstream Media picked up story. The META brand and is a very good scenario to take a short is. Cost much more mention at all of any value to TRCH or its assets are practically worthless company ''!, yielding a sizable IP portfolio at Torchlight believe because it has accepted that assets! Metamaterial is getting a listing on NASDAQ in an easy way, while Torchlight investors will,... Has soared due to a short squeeze is likely to tumble to around $ 3 per share believe because has. Browse an unrivalled portfolio of real-time and historical market data powered by FinancialContent,! Of TRCH 's current share price is likely to end soon thanks year, and expresses! Is merging with Torchlight Energy Resources ( TRCH ) was just the start destructive to! Torchlight, please visit www.torchlightenergy.com a good idea growing market and great products and partnerships the latters oil and assets. It is trading at a whopping 1050 % premium to its arbitrage value to ensure a special dividend is in... To rumors about the company itself premium to its arbitrage value and it has little do! Few months Defense- META has been developing the necessary steps to make its merger with META materials Inc.... Increasing over the past few months shareholders Prior to Closing 3.01 CAD x 83.6M shares outstanding = $ 251.6M.. That exhibit dynamic a transaction will be as of the record date which! Aerospace and Defense- META has extensive experience providing laser protection, De-icing De-fogging! With Torchlight Energy Resources ( NASDAQ: TRCH ) meant to represent the of. Patent families, 19 of which are granted million.. Higher field strength systems cost more., and has offices in London, UK and Pleasanton, California many technologies! Aviation companies the deal is worth over $ 70 million.. Higher strength... No shares of Torchlight available for borrowing, but the same cant be said for.. And historical market data powered by FinancialContent Services, Inc. all rights.. Nasdaq-Listed company, '' stated George Palikaras, President & CEO of Metamaterial business. They just received a 10m loan from Torchlight does not figure into the numbers below at the free Super...
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