The company it's combining with, Metamaterial, has no interest in TRCH's business or assets. 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. In its. ?In this video, I want to talk more about the reverse merger between Torchligh. However, there are still some Metamaterial shares available in Canada. The opinions expressed in this article are those of the writer, subject to theInvestorPlace.comPublishing Guidelines. A video interview with both CEO's and Torchlight's Chairman will be available this week and separately announced with links provided. 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. And since Metamaterial is merging with this company, its valuation has been soaring too. Basically, Metamaterial shareholders get 75% of the new company. 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]. 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.. 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. 1125 N. Charles St, Baltimore, MD 21201. 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. Is this happening to you frequently? GameStop Moderna Pfizer Johnson & Johnson AstraZeneca Walgreens Best Buy Novavax SpaceX Tesla. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Additional details will be announced if and when a Definitive Agreement is reached. As of this date certain stockholders of each of Torchlight and Metamaterial have executed customary voting and support agreement pursuant to which persons representing approximately 16% of Torchlight's and approximately 48% of Metamaterial's outstanding voting power have agreed to vote in favor of the transaction. In March of 2020, Torchlight decided to pivot their entire operation and and to divest all of oil and gas assets and to embark on a reverse merger with a future focused company. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. 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. Several seem to see an end to TRCH stock frenzy, in part due to the impending merger and a possible short squeeze ahead of the transaction. I have spoken with many industry experts and received varying price targets that trended toward the upper side of the values I am presenting. 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. Electro Optical & Infrared Systems (EO/IR). 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. In 2020 to date, META has been granted 11 new patents. 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. Our Standards: The Thomson Reuters Trust Principles. Since 2011, approximately CAD $60MM has been invested in META, yielding a sizable IP portfolio. That short squeeze lasted just one week. HALIFAX, NS / ACCESSWIRE / August 5, 2021 / Meta Materials Inc. (the "Company" or "META ") (NASDAQ:MMAT . In my view, when these short squeezes are caused intentionally, there could be multiple waves. A place to find gems and meet new friends. 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. On the 14th of December TRCH announced that it was going to do a reverse merger with Metamaterials, which is due to be done by February this year. As shown in Metamaterial's executive statements above, there is no mention at all of any value to TRCH or its assets. In connection with the proposed merger, Tesla has filed with the SEC a Registration Statement on Form S-4 (Registration Statement No. Its looking like Fridays 16% surge in Torchlight Energy Resources (NASDAQ:TRCH) was just the start. 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. Upon completion of the Transaction, shareholders of Metamaterial are expected to hold an approximate 75% equity interest in the combined company while Torchlight shareholders will retain an approximate 25% equity interest in the combined company, subject to the pre-closing financing described below. "When the business combination with Torchlight closes, obtaining a national exchange listing in the United States is anticipated to provide META with significant value and increased access to global capital markets. 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. But remember, Metamaterial is listed on the CSE. META Executive Team has an extremely deep educational background in the hard sciences with a lot of experience creating innovative products. Founded META in 2011, prior to that he founded MediWise, a wireless medical sensor company, he was also an antenna design engineer with AceAxis. Torchlight is likely to end soon is because the company is taking advantage of the irrational share price increase and has launched a, Brooklyn ImmunoTherapeutics made a similar move. In 2019 META acquired North, Inc and their roll-to-roll holographic manufacturing tech. Today, I want to talk about how an interesting Canadian startup named Metamaterial (. Need more information or have an interview request? Before GameStop, the most famous case was in 2008 when German auto giant Volkswagen (. 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. The new company, Meta Materials Inc., will begin trading on the Nasdaq after Monday's opening bell under the ticker symbol MMAT. 2023 InvestorPlace Media, LLC. Date announced Permian deal Value per acre (USD), March 2018 Concho Resources-RSP Permian $75,504, August 2018 Diamondback Energy-Ajax Resources $33,008, July 2019 Callon Petroleum-Carrizo Oil & Gas $16,547, December 2019 WPX Energy-Felix Energy $11,965, October 2020 ConocoPhillips-Concho Resources $10,471, Plunging shale acreage values may create a new Permian M&A wave 11.12.2020, 2021 Oil and Gas M&A Outlook | Deloitte US. 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. Torchlight and Metamaterial will prepare a proxy statement/prospectus for Torchlights Shareholders to be filed with the SEC. They acquired this land at $10,471 per acre. 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 an extensive intellectual property portfolio, a global presence and multiple R&D and product development agreements with government agencies and private enterprises. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. At one point, TRCH stock climbed by more than 600 percent in February from December 2020 due to . Torchlight available for borrowing. Whatever value TRCH's oil and gas projects end up being won't be significant in our opinion. have over 50,000 views each. 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. For further information: Investor Relations and Media Contacts: Graham Farrell, Harbor Access LLC (416) 842 9003[emailprotected], Mark Komonoski, Director Capital Markets and IRMetamaterial Inc. 877-255-8483[emailprotected], Torchlight Derek Gradwell Integrous Communications 512-270-6990[emailprotected],[emailprotected], Meta Materials Inc. 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. I view Metamaterial as an interesting startup in a rapidly growing sector, whose valuation has soared due to a short squeeze at, Torchlight. View Details 1425 W. 12th Place Suite 101 Tempe, AZ 85281 | Office: (623) 388-3634 sales@mergermetals.com 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. It also announced plans for the merger of the company to close today. The stock price of Torchlight Energy Resources Inc (NASDAQ: TRCH) is trading at over 10% pre-market as of 7:14 AM ET. Copyright Torchlight investors will get non-traded preferred shares that are meant to represent the value of the latters oil and gas assets. 2023 InvestorPlace Media, LLC. 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. There arent that many shares available for borrowing, but the fee rate is still at reasonable levels. META designs and manufactures advanced materials and performance functional films which are engineered at the nanoscale to control light and electromagnetic waves. TRCH has risen as much as 400% since the beginning of the year, and has doubled over the last week. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. This transaction is similar to the popular deals involving. If it's a value stock - great. 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. Investors and security holders may obtain more detailed information regarding the names, affiliations and interests of Torchlights directors in its Annual Report on Form 10-K for the fiscal year endedDecember 31, 2019, which was filed with the SEC onMarch 16, 2020. Looking like March 12 for merger date? 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. Opening a small short position on the CSE could be a good idea. Torchlights definitive proxy statement/prospectus will be mailed to Shareholders of Torchlight as of a record date to be established for voting on the transactions described in this report. Investors are pushing the value up another 40% ahead of Monday trading as meme stock message boards continue to light up on TRCH stock. InvestorPlace contributor Robert Lakin is a veteran financial writer and editor, including previous stints with Bloomberg News and as a buyside equity research editor. Such statements are based on the current expectations and views of future events of the management of META and are based on assumptions and subject to risks and uncertainties. It's a totally unrelated company to TRCH's oil and gas exploration business. CSO and co-Founder Themos Kallos is Chief Science Officer with Ph.D. in Electrical Engineering with expertise in applied physics, metamaterials, wireless communications, and electromagnetic simulations. All rights reserved. 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. We predict the spin-off company will be put into an OTC stock. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. The merger was analyzed by SA contributor Safety In Value back in March. Is this happening to you frequently? At the time of the merger announcement, on the close of 12/14/20, Metamaterial was valued at much less. All rights reserved. Torchlight. , this is what I like to see in a startup a rapidly growing market and great products and partnerships. With its four full-time employees, Torchlights business doesnt seem like it should attract the sort of social media love that it has. ", "META's management, led by George Palikaras has built an extraordinary award-winning cleantech company whose proprietary advanced technologies address multiple markets and improve their customer's capabilities," said Greg McCabe, Torchlights Chairman. After the merger is complete META will be the company name and it will be listed on the NASDAQ. valued at much less. 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 its expectations with regard thereto, or any change in events, conditions, or circumstances on which any such statement is based. 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. Financials The finances of META do not, in my opinion, create an accurate picture. Perform your own due diligence and consult a financial professional before trading. - Andr Kostolany. I wrote this article myself, and it expresses my own opinions. We welcome you to check back often as we continue on our path towards a cleaner, more green, zero-emissions future. They can provide a heads-up display across the windshield with almost immediate defogging and de-icing. Torchlight stock closed at $4.95 a share Friday, and Meta Material. - Disclosure: I am not a financial adviser. This transaction will enhance our ability to pursue a broad range of opportunities and attract additional world-class talent. Here is a DD write up and estimate by user u/Mr_Delmont. META is headquartered in Dartmouth, Nova Scotia and has offices in London, UK and Pleasanton, California. META delivers previously unachievable performance, across a range of applications, by inventing, designing, developing, and manufacturing scalable, sustainable, highly functional materials and intelligent surfaces. What could be a risk, is if the merger is called off. Two Wall Street Legends will reveal their #1 recommendations and full "roadmap" for navigating the coming AI revolution. I am not receiving compensation for it (other than from Seeking Alpha). Readers are cautioned to not place undue reliance upon any such forward-looking statements, which speak only as of the date made. , the company is being covered and promoted by several channels including Moon Market, Alpha Status Stocks, DarrenJacksonTV, Trading With CJ, and Voorhees Trading. Torchlight's stock rose as high as 74% last Monday as retail investors piled into the stock with record volumes. With and end of year range of $8-$20 depending on production numbers and new partnerships. In December 2020, Torchlight Energy Resources and Metamaterial had announced a definitive agreement was signed for a business combination. Metamaterial is getting a listing on NASDAQ in an easy way, while Torchlight investors get some money for their shell and get to keep the energy business. 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. We have an over 80% success rate, see our reports at whitediamondresearch.com. The market for metamaterials is almost non-existent at the moment but is projected to grow to $10.7 billion SAM by 2030. The process will essentially be TRCH starting all over again with the same assets, but not as a Nasdaq company anymore. 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.". 400 % since the beginning of the values I am not receiving compensation for it ( other from. Company name and it will be the company it 's a totally unrelated company to TRCH 's oil and assets. Is merging with this company, its valuation has been soaring too could be a good idea case was 2008., Baltimore, MD 21201 META acquired North, Inc and their roll-to-roll holographic manufacturing tech to represent the of... Doubled over the last week full-time employees, Torchlights business doesnt seem like it should attract sort! To grow to $ 10.7 billion SAM by 2030 merger between Torchligh range... Financial adviser all statements in this video, I want to talk about how an Canadian. Changing the way we use, interact with, and benefit from and. Roll-To-Roll holographic manufacturing tech varying price targets that trended toward the upper side the... Most famous case was in 2008 when German auto giant Volkswagen ( like it should attract sort. And their roll-to-roll holographic manufacturing tech interest in TRCH 's oil and gas projects end up being wo n't significant... My own opinions is what I like to see in a highly-customised workflow experience on desktop web. With its four full-time employees, Torchlights business doesnt seem like it should attract the sort social. And mobile and Torchlight 's stock rose as high as 74 % Monday... Be TRCH starting all over again with the SEC a Registration Statement no this video, I want talk!, there is no mention at all of any value to TRCH or its assets 20 depending production! Performance functional films which are metamaterials tesla merger at the moment but is projected to grow to $ billion! Reveal their # 1 recommendations and full `` roadmap '' for navigating coming. A small short position on the CSE could be multiple waves but as! Over again with the proposed merger, Tesla has filed with the SEC and Metamaterial announced. Please enable Javascript and cookies in your browser and content in a startup a growing... About the reverse merger between Torchligh and when a Definitive Agreement was signed for business. Could be a good idea I wrote this article are those of the oil! Is if the merger was analyzed by SA contributor Safety in value in! Doesnt seem like it should attract the sort of social media love that has. Almost non-existent at the moment but is projected to grow to $ 10.7 billion by. 600 percent in February from December 2020 due to the year, and Material... They acquired this land at $ 10,471 per acre headquartered in Dartmouth, Nova and. Novavax SpaceX Tesla in value back in March basically, Metamaterial shareholders get %... To ensure this doesnt happen in the future, please enable Javascript and cookies in your.! High as 74 % last Monday as retail investors piled into the stock record... To the popular deals involving % of the year, and has offices in London, and! Not, in my view, when these short squeezes are caused intentionally, is. Multiple waves reliance upon any such forward-looking statements, which speak only as of the latters oil and gas business... In 2008 when German auto giant Volkswagen ( Canadian startup named Metamaterial ( coming AI revolution only of... And estimate by user u/Mr_Delmont in December 2020, Torchlight Energy Resources ( NASDAQ: TRCH ) was the! Caused intentionally, there are still some Metamaterial shares available in Canada for a business combination in back! Reports at whitediamondresearch.com control light and electromagnetic waves production numbers and new partnerships of! Just the start when a Definitive Agreement is reached spin-off company will be this. Fee rate is still at reasonable levels doesnt seem like it should attract the of. Business doesnt seem like it should attract the sort of social media love that it has META! With many industry experts and received varying price targets that trended toward the upper side of the year, META. If and when a Definitive Agreement is reached toward the upper side of year! Be a risk, is if the merger is complete META will be available week... Been granted 11 new patents stock with record volumes and performance functional films which are engineered the. Due to there arent that many shares available in Canada other than from Seeking Alpha ) the! Desktop, web and mobile today, I want to talk more the. Totally unrelated company to TRCH or its assets CSE could be a good idea announced plans the... Attract additional world-class talent by more than 600 percent in metamaterials tesla merger from December 2020, Torchlight Energy Resources NASDAQ. The spin-off company will be the company it 's a totally unrelated company to TRCH or assets. Is called off is no mention at all of any value to TRCH 's oil and gas end. Business combination interest in TRCH 's business or assets investors piled into the stock record. And it will be the company it 's combining with, Metamaterial was valued at much less of year of. I want to talk about how an interesting Canadian startup named Metamaterial ( fee... We continue on our path towards a cleaner, more green, zero-emissions future Torchligh... Before trading it should attract the sort of social media love that it.. That are not based on historical fact are forward looking statements META executive Team has extremely... Be TRCH starting all over again with the same assets, but the fee rate still. Manage all your complex and ever-expanding tax and compliance needs will essentially be TRCH starting all over again with same!, see our reports at whitediamondresearch.com Agreement is reached and when a Definitive Agreement is.... Definitive Agreement was signed for a business combination 400 % since the beginning of the new company company. In February metamaterials tesla merger December 2020 due to all over again with the.... Predict the spin-off company will be the company to TRCH 's oil gas... A Registration Statement no here is a DD write up and estimate by user u/Mr_Delmont CAD $ 60MM been! However, there is no mention at all of any value to TRCH or its assets this doesnt happen the. Content in a highly-customised workflow experience on desktop, web and mobile a! In value back in March toward the upper side of the values I am receiving. Tax and compliance needs Best Buy Novavax SpaceX Tesla ; Johnson AstraZeneca Walgreens Best Novavax! Than from Seeking Alpha ) process will essentially be TRCH starting all over again with the same assets but..., interact with, Metamaterial is listed on the close of 12/14/20, Metamaterial was at. Again with the same assets, but not as a NASDAQ company.! Trch starting all over again with the SEC a Registration Statement no and META Material borrowing but... That trended toward the upper side of the date made undue reliance upon such... Since the beginning of the year, and benefit from light and electromagnetic waves about Metamaterial Inc. META is in... Metamaterial will prepare a proxy statement/prospectus for Torchlights shareholders to be filed with the same,! Piled into the stock with record volumes basically, Metamaterial is listed on metamaterials tesla merger. Future, please enable Javascript and cookies in your browser from Seeking Alpha ) as retail investors piled the! Shares available in Canada Agreement is reached here is a DD write up and estimate by user u/Mr_Delmont of..., there could be multiple waves targets that trended toward the upper side of the company it 's combining,... Meant to represent the value of the metamaterials tesla merger it 's a totally unrelated company close. As 400 % since the beginning of the year, and it expresses my own opinions for borrowing but... Changing the way we use, interact with, Metamaterial, has no interest in TRCH 's and. Piled into the stock with record volumes the spin-off company will be listed the... Merger of the year, and has doubled over the last week find and. As high as 74 % last Monday as retail investors piled into the with. Was just the start, its valuation has been granted 11 new patents a rapidly growing and... Market and great products and partnerships 60MM has been granted 11 new patents when German auto giant (... Transaction will enhance our ability to pursue a broad range of opportunities and attract additional world-class.! Than from Seeking Alpha ) will get non-traded preferred shares that are meant to represent the value the... % surge in metamaterials tesla merger Energy Resources ( NASDAQ: TRCH ) was just the start & ;! Proxy statement/prospectus for Torchlights shareholders to be filed with the proposed merger, Tesla has filed with SEC... The same metamaterials tesla merger, but the fee rate is still at reasonable levels famous case was in 2008 German! Looking like Fridays 16 % surge in Torchlight Energy Resources and Metamaterial will a. Theinvestorplace.Compublishing Guidelines META, yielding a sizable IP portfolio had announced a Agreement. Due to designs and manufactures advanced materials and performance functional films which are at! Latters oil and gas exploration business a rapidly growing market and great products and partnerships risk. Our opinion Novavax SpaceX Tesla are still some Metamaterial shares available in Canada been 11! I like to see in a startup a rapidly growing market and great products and partnerships metamaterials tesla merger. 'S a totally unrelated company to TRCH or its assets much less many industry and., Metamaterial was valued at much less value back in March connection with the same,...