Please disable your ad-blocker and refresh. 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 quickly made itself known as an expert in the field of high-tech materials. It all happens at the free AI Super Summit. 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. With this reverse merger Metamaterials will be brought into the main market with Torch becoming the shell company. Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. 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). 29 2021, Published 1:58 p.m. Copyright 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 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. Metamaterial closed at only $0.58 on 12/14/20. TRCH has risen as much as 400% since the beginning of the year, and has doubled over the last week. Metamaterials are a subset of functional materials, according to the company. Lorem ipsum dolor sit amet, consectetur adipiscing elit. 333-213390) containing a joint proxy statement/prospectus of SolarCity and Tesla. META's innovations have been reported in popular technology magazines such as Wired.com "Bizarre New Materials Could Make Bendy Phones That Work" and the Financial Times which listed the category of metamaterials in their "50 Ideas To Change The World" in a special annual report. That equals $251.6/1.27 = $198M USD. 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. Today, I want to talk about how an interesting Canadian startup named Metamaterial (. Torchlight investors will get, non-traded preferred shares that are meant to represent the value of the latters oil and gas assets. Torchlight also announced that it implemented a 1-for-2 reverse split of TRCH stock. On that date, the company . I view it as likely since there are no shares available for short-selling as of the time of writing, according to data from. "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. TRKA Stock: Have Retail Investors Found a Gem in Troika Media Group? They are composite structures, consisting of conventional materials such as metals and plastics, that are engineered by scientists to exhibit new or enhanced properties. Investors appear to be responding to rumors about the company working with Tesla. Through this reverse merger Torchlight receives a 25% stake in META. 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. META's portfolio comprises 28 patent families, 19 of which are granted. I am not receiving compensation for it (other than from Seeking Alpha). Metamaterial ( OTCPK:MMATF) is merging with Torchlight Energy Resources ( TRCH ). 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. You can view it here. Please. Augmented Reality applications- META has been developing the necessary technology while also acquiring other companies and their patents. TRCH will sell its assets or spin them off before the business combination happens; the combined company will get none of TRCH's assets. Torchlight has engaged Roth Capital Partners as financial advisor in connection with the transaction. 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. The market for metamaterials is almost non-existent at the moment but is projected to grow to $10.7 billion SAM by 2030. The shares, however, gave up some of the gains after the company upsized its stock offering. The Proposed Transaction remains subject to completion of a due diligence review by each party and negotiation of definitive agreements and the structure may change due to tax or other transaction considerations. 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.". 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. No forward-looking statement can be guaranteed. While they do have revenue and have partnered with major companies (Samsung, Boeing, Airbus), I am thinking of them more in terms of a pre-revenue IPO. I have no business relationship with any company whose stock is mentioned in this article. If the dividend or share buyback yield is high - even better. 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. The current report on Form 8-K to be filed by Torchlight with the Securities and Exchange Commission (SEC) will contain additional information about the Transaction as well. Oil averaged $40.75 that month. Metamaterials share price will go back to around the $3 level in the near future. META delivers previously unachievable performance, across a range of applications, by inventing, designing, developing, and manufacturing scalable, sustainable, highly functional materials and intelligent surfaces. While management has based any forward-looking statements included in this release on its current expectations, the information on which such expectations were based may change. (you can quote me on this). The reverse split became effective after market close on June 25. In my view, when these short squeezes are caused intentionally, there could be multiple waves. 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. This will also trigger a special dividend to shareholders of Torchlight. No forward-looking statement can be guaranteed. There seems to be a short squeeze at Torchlight, with which Metamaterial is merging to list on NASDAQ. The company isnt popular on WallStreetBets, but you can find viral posts on the RobinHoodPennyStocks, pennystocks, and smallstreetbets subreddits touting it as a potential short squeeze. Recall that the company plans to merge with Metamaterial(OTCMKTS:MMATF), which makes advanced materials. META partnered with Airbus to develop and commercialize this technology. In 2018 META was awarded "Best New Product in Commercial Aviation" by Aviation Week Network at the 63rd Annual Laureate Awards, for metaAIR, a Laser Strike Protection solution to protect pilots from harmful laser attacks without interfering with visibility. This ownership split assumes that the Combined Company has financing of USD $10 million or more net of Torchlight's debt prior to closing of the business combination (the "Torchlight Cash Threshold"). META has a growing patent portfolio with three core. Sign up below to get this incredible offer! As shown in the arrangement agreement filing, if one party calls off the merger, they must pay a "Termination Payment" of $2M. I have been investing in stocks since 2007.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. 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. TRCH stock had more than doubled this month. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. These documents, once available, can also be obtained, without charge, at the SECs web site (http://www.sec.gov). The story is narrative-driven and its not prudent to use traditional metrics such as P/S, P/E, or EV/EBITDA. The current price of West Texas Intermediate (WTI)is currently $61.50 barrel. Higher field strength systems cost much more. META is currently developing new materials with diverse applications in the automotive, aerospace, consumer electronics and medical industries. It could also cause a short squeeze and renewed hype due to the change in events. Metamaterial designs, develops, and manufactures advanced materials specializing in nanocomposites, nanofabrication, and machine learning to control light and electromagnetic waves. 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. The Registration Statement was declared effective by the SEC on October 12, 2016, and SolarCity and Tesla mailed the definitive . 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. Oil averaged $40.75 that month, Conoco Phillips acquires Concho resources in 9.7 BN all stock transaction, adding 550,000 acres in the Permian basin and 200,000 b/d. Torchlight Energy Resources announced on June 25 that it completed the necessary steps to make its merger with Meta Materials, Inc. official. The company isnt popular on WallStreetBets, but you can find, Also, Torchlight has been one of the most discussed stocks on. For reference WTI is currently at $61.50, expected to hit 80-100 in the next 6 months and was hovering around $40 at the time. Our Standards: The Thomson Reuters Trust Principles. However, something unusual has been happening over the past few days. An entity owned by Greg McCabe, Torchlight's Chairman, provided a bridge loan to Torchlight for USD $1.5 Million with a conversion feature of $.375 per common share of Torchlight. InvestorPlace contributor Robert Lakin is a veteran financial writer and editor, including previous stints with Bloomberg News and as a buyside equity research editor. ), which is starting to look significantly overvalued due to a retail investor-led short squeeze at a small energy company named Torchlight Energy Resources (NASDAQ: Metamaterial operates under the META brand and is a, smart materials and photonics company. 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. META Executive Team has an extremely deep educational background in the hard sciences with a lot of experience creating innovative products. Do you remember the GameStop (NYSE:GME) short squeeze? In December 2020, Torchlight Energy Resources and Metamaterial had announced a definitive agreement was signed for a business combination. I think the main risk for the bear case is a second short squeeze, like what happened at GameStop in March. META has also partnered with Lockheed Martin and the Canadian Government's Sustainable Development Technology Canada (SDTC) fund to develop metaSOLARTM a new solar energy product suitable for the transportation industry. 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. If you have an ad-blocker enabled you may be blocked from proceeding. Is there a short squeeze? Fundamentally, it could be todays announcement that the company bought a few extra days to finalize a merger transaction. 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. 2023 InvestorPlace Media, LLC. The reason why investing in short squeezes is a bad idea is because they dont last long. View Details 1425 W. 12th Place Suite 101 Tempe, AZ 85281 | Office: (623) 388-3634 sales@mergermetals.com 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. On December 14, 2020, the companies signed an agreement for the . Orogrande Basin 134,000 acre lease 72.5% interest (97,150 net acres), the site has had several successful test wells drilled. 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. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. With its four full-time employees, Torchlights business doesnt seem like it should attract the sort of social media love that it has. Basically, Metamaterial shareholders get 75% of the new company. 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. Perform your own due diligence and consult a financial professional before trading. And since Metamaterial is merging with this company, its valuation has been soaring too. $12M is about the value of a clean empty shell Nasdaq listing. In 2019 META acquired North, Inc and their roll-to-roll holographic manufacturing tech. Shareholders have approved the deal, whose terms stipulate that Metamaterial shareholders will own 75% of the combined company, while Torchlight shareholders get 25%. It is intended to reposition Torchlight into the multi-billion-dollar Advanced Materials market1 as a global cleantech and technology leader. 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. 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. The company hasn't made any significant progress since our report with selling or developing any of its oil and gas assets. Several of the videos on Torchlight have over 50,000 views each. that it inked an agreement with a fund named Lincoln Park Capital to sell shares for up to $20.8 million. "During the past six months the oil and gas market has softened due to the economic slowdown resulting from the pandemic," stated John Brda, Torchlight's CEO. It did sell its interest in its Winkler Project in November for $450K, but that's not a significant sum. A short is more appealing when there's a clear endgame in sight. Although META 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. I think the main risk for the bear case is a second short squeeze. Electro Optical & Infrared Systems (EO/IR). I could not find anyone willing to go on record. However, a termination of the merger would likely a be a bad event for Metamaterial's share price, because then it would be stuck trading on the Canadian exchange and would have to find a new Nasdaq reverse merger candidate. 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