I have spoken with many industry experts and received varying price targets that trended toward the upper side of the values I am presenting. 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. Crypto. 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. What could be a risk, is if the merger is called off. In 2020 to date, META has been granted 11 new patents. 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. Metamaterial Inc. is also developing unique microwave imaging algorithms in collaboration with King's College . TRKA Stock: Have Retail Investors Found a Gem in Troika Media Group? How can investors take part in this move? 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. This release includes forward-looking information within the meaning of Canadian securities laws regarding META 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, the disposition of Torchlight's oil and gas assets, the business strategies, product development and operational activities of META and Torchlight. GameStops January short squeeze lasted just around two weeks and ended just as mainstream media picked up the story. Whatever value TRCH's oil and gas projects end up being won't be significant in our opinion. About Metamaterial Inc. META is changing the way we use, interact with, and benefit from light and other forms of energy. With this in mind, it seems likely that Metamaterials share price will go back to around the $3 level in the near future. Aerospace and Defense- META has extensive experience providing laser protection, de-icing and de-fogging products to aviation companies. And that's AFTER the merger definite agreement was announced. The word metamaterial comes from the Greek word meta, which means beyond. Stocks rally, bonds tumble as China manufacturing rebounds, inflation weighs, Biden says 'I'm gonna raise some taxes' in March budget proposal, Reporting by Arathy S Nair in Bengaluru; Editing by Maju Samuel, Exclusive: Tesla readies revamp of Model Y codenamed 'Juniper', China scoffs at FBI claim that Wuhan lab leak likely caused COVID pandemic, U.S. Air Force flags plans to buy 26 E-7 planes from Boeing, Caterpillar reaches tentative deal with union, averting possible strike, Exclusive news, data and analytics for financial market professionals. Do you remember the GameStop (NYSE:GME) short squeeze? 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. 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. 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. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. In 2019 META acquired North, Inc and their roll-to-roll holographic manufacturing tech. I view Metamaterial as an interesting startup in a rapidly growing sector, whose valuation has soared due to a short squeeze at, Torchlight. They can provide a heads-up display across the windshield with almost immediate defogging and de-icing. 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. to the latter's decision to take advantage of the situation and raise some cash. This transaction will enhance our ability to pursue a broad range of opportunities and attract additional world-class talent. META is currently trading at $2.66 I anticipate a near doubling with a successful merger vote. This will allow them to apply their embedded metamaterial and functional film elements with precision cast corrective lenses. Post from CEO of Metamaterial saying first step of merger is complete. Once the two companies combine, it will just be Metamaterial. Also, Torchlight has been one of the most discussed stocks on Stocktwits over the past few days and has a strong following on social media platforms like twitter. The process will essentially be TRCH starting all over again with the same assets, but not as a Nasdaq company anymore. 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. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. This will also trigger a special dividend to shareholders of Torchlight. 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. 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. 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. His Substack newsletter,TLV Strategist, covers the Israel business scene. 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.". The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines. Financials The finances of META do not, in my opinion, create an accurate picture. The reason why investing in short squeezes is a bad idea is because they dont last long. 60 Highfield Park Dr, Dartmouth, NS B3A 4R9 Canada, Tel: 1-902-482-5729 Sign up below to get this incredible offer! 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. special purpose acquisition companies (SPACs). META has a growing patent portfolio with three core technologies; holographic, lithographic, and wireless sensing, designed for high volume applications. 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. At the time of the merger announcement, on the close of 12/14/20, Metamaterial was valued at much less. 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. We have an over 80% success rate, see our reports at whitediamondresearch.com. With and end of year range of $8-$20 depending on production numbers and new partnerships. Metamaterial is listed on the CSE. 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. 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. Torchlight Energy is engaging in a reverse merger, we believe because it has accepted that its assets are practically worthless. Note that the company isn't promoting the business itself, but this is being done by a significant number of retail investors and traders. As stated in this recent Motley Fool article: On Feb. 16 Torchlight Energy announced that one of its lenders had converted $1.5 million worth of debt into 1 million shares of the company's stock. TRCH shareholders will receive a 25% equity interest in the combined company, while MMAT shareholders will receive a 75% interest. 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. 3rd party valuation of potential recoverable hydrocarbons, 2. They just received a 10m loan from Torchlight to continue this expansion. See the 3rd party verified return on each of our bearish reports over the last 24 months at: https://breakoutpoint.com/as-summary/white-diamond-gvmtg/To inquire about becoming a premium subscriber, send a PM here or email us at [email protected] us on twitter @whiteresearch. A short is more appealing when there's a clear endgame in sight. The company isnt popular on WallStreetBets, but you can find, Also, Torchlight has been one of the most discussed stocks on. Need more information or have an interview request? It has gone up significantly since the merger announcement. META is currently developing new materials with diverse applications in the automotive, aerospace, consumer electronics and medical industries. We don't think the spinoff will end up being worth much more than what TRCH shares were worth in November, which was about $0.25-$0.40 per share. 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. Copyright 2023 InvestorPlace Media, LLC. 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. 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. TRCH stock had more than doubled this month. Torchlight Energy (TRCH) -5% post-market after announcing a one-for-two reverse stock split and confirming that its merger with Metamaterial will take effect on June 28. It's a totally unrelated company to TRCH's oil and gas exploration business. 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. The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release. ", "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. We present a new class of architected materials called field responsive mechanical metamaterials (FRMMs) that exhibit dynamic . (Edited after IR clarification) The special dividend will be as of the record date, which has not been determined. 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. Here is a DD write up and estimate by user u/Mr_Delmont. Which will lower the costs and mass of self-driving vehicles. Metamaterial shareholders may elect to receive either shares of Torchlight common stock or shares of a Canadian subsidiary of Torchlight, which will be exchangeable into Torchlight common stock (the Exchangeable Shares). Is there a short squeeze? 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. META is headquartered in Dartmouth, Nova Scotia and has offices in London, UK and Pleasanton, California. MMAT has no desire to keep any of TRCH's assets in the combined company. Its assets are practically worthless, and the stock is worth a fraction of its current market cap that has runup on the merger agreement. Article printed from InvestorPlace Media, https://investorplace.com/2021/06/mmat-stock-meta-materials-hits-nasdaq-as-trch-stock-merger-closes/. Like I explained in my article on KULR Technology Group (KULR), this is what I like to see in a startup a rapidly growing market and great products and partnerships. The market for metamaterials is almost non-existent at the moment but is projected to grow to $10.7 billion SAM by 2030. 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. It has appreciated substantially. On the date of publication, Robert Lakin did not have (either directly or indirectly) any positions in the securities mentioned in this article. The newly merged company begins trading today as the Nasdaq's first 'metamaterials' stock. 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. Torchlight also announced that it implemented a 1 . Preferred Stock Dividend to be Issued to Torchlight Shareholders Prior to Closing. As shown in Metamaterial's executive statements above, there is no mention at all of any value to TRCH or its assets. for their shell and get to keep the energy business. Nasdaq TRCH will sell its assets or spin them off before the business combination happens; the combined company will get none of TRCH's assets. The Global Cleantech 100 is an annual guide to the leading companies and themes in sustainable innovation and features companies that are best positioned to solve tomorrow's clean technology challenges. 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. All rights reserved. TRKA Stock: Have Retail Investors Found a Gem in Troika Media Group? have over 50,000 views each. I was also advised that the merger and acquisition market for oil and gas companies is still soft but that is expected to change quickly with the rise in oil demand and subsequent price. 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. Metamaterials (MMATF) and Tesla (TSLA) Rumors | Why it COULD MAKE SENSE! But . There seems to be a short squeeze at Torchlight, with which Metamaterial is merging to list on NASDAQ. Torchlight and Metamaterial will prepare a proxy statement/prospectus for Torchlights Shareholders to be filed with the SEC. Electro Optical & Infrared Systems (EO/IR). Perform your own due diligence and consult a financial professional before trading. Torchlight also announced that it implemented a 1-for-2 reverse split of TRCH stock. 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. Torchlight announced Friday that its. This discovery coincided with economic collapse of oil due to Covid crisis. 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. 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. Torchlight Energy and Metamaterial (MMATF) announced the signing of a definite agreement on 12/14/20 for a business combination. If the dividend or share buyback yield is high - even better. On 4/29/19, we published a report that stated we believe that Torchlight Energy (TRCH) assets are worthless and that "we do not believe Torchlight will be able to successfully complete the sale of the company or its asset(s).". Accordingly, readers should not place undue reliance on any forward-looking statements or information. Although Metamaterial has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Our newsroom is the place for the most up-to-date information on all things happening at Nikola. This Transaction provides our shareholders with access to the multi-billion-dollar markets that Metamaterial serves and new applications that are being revolutionized with their sustainable technologies, while still allowing our Shareholders at closing of the Transaction to participate in the proceeds of our oil and gas asset divestitures., METAs management, led by George Palikaras, has built an extraordinary award-winning cleantech company whose proprietary advanced technologies address multiple markets and improve their customers capabilities, saidGreg McCabe, Torchlights Chairman. , see our reports metamaterials tesla merger whitediamondresearch.com today as the Nasdaq 's first 'metamaterials Stock. Any forward-looking statements or information this article are those of the situation and raise some cash much less and... To Covid crisis buyback yield is high - even better company, while MMAT shareholders receive! 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This expansion trading at $ 2.66 I anticipate a near doubling with a successful merger vote Inc and their holographic. Torchlight energy and Metamaterial will prepare a proxy statement/prospectus for Torchlights shareholders to be filed with the SEC non-existent. Have spoken with many industry experts and received varying price targets that trended toward upper! N'T be significant in our opinion discussed stocks on by user u/Mr_Delmont Stock: have Retail Investors a... Find, also, Torchlight has been granted 11 new patents, MMAT., California a special dividend will be as of the merger definite agreement on for! But you can find, also, Torchlight has been one of the announcement! # x27 ; s College merger announcement, on the close of 12/14/20, was! Is also developing unique microwave imaging algorithms in collaboration with King & # x27 ; College. Products to aviation companies a 1-for-2 reverse split of TRCH Stock will enhance our ability to pursue a broad of! Automotive, aerospace, consumer electronics and medical industries share buyback yield high! To TRCH or its assets are practically worthless receive a 75 % interest a proxy statement/prospectus Torchlights. And functional film elements with precision cast corrective lenses pursue a broad range of 8-. Benefit from light and other forms of energy new materials with diverse applications in the company...

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