metamaterials tesla merger

Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. On the date of publication, Robert Lakin did not have (either directly or indirectly) any positions in the securities mentioned in this article. Our extensive technology platform is software and AI-design driven. Cardano Dogecoin Algorand Bitcoin Litecoin Basic Attention Token Bitcoin Cash. Metamaterial shares available in Canada. And that's AFTER the merger definite agreement was announced. All rights reserved. Copyright Therefore, the current value to TRCH shareholders is only 25% of that of Metamaterial's current market cap plus the value of TRCH's oil and gas assets. 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. The following is a summary of the key terms of the pending Transaction as contemplated by the Arrangement Agreement. 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. In 2013 Metamaterial Technologies USA, Inc (formerly Rolith Inc and now META's subsidiary in Silicon Valley) received "Best Manufacturing Technology" award at the tenth annual IDTechEx printed electronics industry event. This year is weird. 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. Torchlight has assets focused in West andCentral Texaswhere their targets are established plays such as the Permian Basin. 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. Post from CEO of Metamaterial saying first step of merger is complete. 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. The following is the 3-month chart for TRCH: TRCH closed at $0.46 on 12/17/20. The industry leader for online information for tax, accounting and finance professionals. That would bring a per share value to TRCH of $12.12M/143M = ~$0.08. In my view, when these short squeezes are caused intentionally, there could be multiple waves. Torchlight urges you to consider those risks and uncertainties in evaluating its forward-looking statements. Torchlight and Metamaterial urge investors, Shareholders and other interested persons to read, when available, the proxy statement/prospectus, as well as other documents filed with the SEC, because these documents will contain important information about the proposed business combination transaction. Torchlight has loaned USD$500,000 to META pursuant to an unsecured convertible promissory note (the "META Note") and has agreed to loan an additional USD$500,000 to META within 5 days of signing the Definitive Agreement (in aggregate, the "Loaned Amounts"). META's products are designed and manufactured with environmental sustainability as a high priority. 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"). 1125 N. Charles St, Baltimore, MD 21201. Do you remember the GameStop (NYSE:GME) short squeeze? Our Standards: The Thomson Reuters Trust Principles. Metamaterial has some interesting products at the moment. 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 . 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. Copyright You see, Metamaterial wants to list on a large US stock exchange, and to do this, its carrying out a reverse takeover with a small NASDAQ-listed US energy company named, Torchlight. Drilling rights in the Permian Basin of West Texas and New Mexico averaged about $24,000 an acre in recent deals, down 67% from 2018, according to Rystad Energy, an Oslo-based research firm. You see, Metamaterial wants to list on a large US stock exchange, and to do this, its carrying out a reverse takeover with a small NASDAQ-listed US energy company named Torchlight. 2023 InvestorPlace Media, LLC. (Edited after IR clarification) The special dividend will be as of the record date, which has not been determined. We specialize in the technology and healthcare sectors. All rights reserved. The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release. 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.. Note that the company isn't promoting the business itself, but this is being done by a significant number of retail investors and traders. 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. There can be no assurances that the Transaction will be consummated. Derek GradwellManaging PartnerIntegrous CommunicationsPhone: 512-270-6990dgradwell@integcom.usir@torchlightenergy.com, Graham FarrellHarbor Access LLC(416) 842 9003Graham.Farrell@HarborAccessllc.com, Mark KomonoskiDirector Capital Markets and IRMetamaterial Inc.Phone: 1-877-255-8483mark@metamaterial.com. 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. I wrote this article myself, and it expresses my own opinions. Automotive Applications These applications are the root of current Tesla rumors, but these technologies can and will be applied across the next generation of cars. It has appreciated substantially. META delivers previously unachievable performance, across a range of applications, by inventing, designing, developing, and manufacturing scalable, sustainable, highly functional materials and intelligent surfaces. Metamaterial closed at only $0.58 on 12/14/20. The companys main focus has historically been on the acquisition and development of highly profitable domestic oil fields, with interests in Texas, including the Permian Basin and the Eagle Ford Shale. Recall that the company plans to merge with Metamaterial(OTCMKTS:MMATF), which makes advanced materials. 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 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). Through this reverse merger Torchlight receives a 25% stake in META. 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. Theres even room for more lines. However, I think things have gotten out of hand with the valuation of Metamaterial and it has little to do with the company itself. 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. Lorem ipsum dolor sit amet, consectetur adipiscing elit. InvestorPlace contributor Robert Lakin is a veteran financial writer and editor, including previous stints with Bloomberg News and as a buyside equity research editor. 29 2021, Published 1:58 p.m. 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. 1125 N. Charles St, Baltimore, MD 21201. META is currently developing new materials with diverse applications in the automotive, aerospace, consumer electronics and medical industries. This is an arranged marriage of sorts, it is the catalyst that will allow META to bring their disruptive technology to the forefront of several growing sectors, each at or near their inflection point. Oil averaged $40.75 that month. Metamaterial wants a clean balance sheet for the merger to happen, it has nothing to do with freeing up the debt for TRCH's oil and gas projects. In November 2020, Torchlight extended an existing letter of intent with Metamaterial to work toward a definitive merger agreement. TRCH shareholders will get 25% of the combined company, which at MMATF's market cap, puts TRCH's current value at 35c per share, assuming its assets are worthless. 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. 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. Meta Materials will be buying all issued and outstanding shares of Nanotech stock for a set price of $1.25 per share as a part of the merger. EMI shielding market projected to be valued at 6.8Bn in 2020 9.2B by 2025 CAGR 6.3% 2020-2025 Source: (Research and Markets). As of the close of 2/16/21, Metamaterial was worth $3.01 CAD x 83.6M shares outstanding = $251.6M CAD. have over 50,000 views each. META designs and manufactures advanced materials and performance functional films which are engineered at the nanoscale to control light and electromagnetic waves. If parties do not enter into the Definitive Agreement by November 2, 2020, or such later date as agreed in writing, or the Definitive Agreement is terminated, the holder of the META Note will have the right to convert the Loaned Amounts and all accrued interest thereon into META common shares at $0.35 (CAD) per common share. Torchlight (TRCH) and Metamaterials (MMATF) Merger: HOW MUCH MONEY WILL WE GET! Torchlight Energy is currently an oil and gas exploration company. 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. How can investors take part in this move? In connection with the Transaction, Torchlight and Metamaterial respectively obtained fairness opinions. Augmented Reality applications- META has been developing the necessary technology while also acquiring other companies and their patents. META has engaged Hamilton Clark as financial advisor on its behalf. Please. Today, I want to talk about how an interesting Canadian startup named Metamaterial (MMATF), 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:TRCH). 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. But . Since 2011, approximately CAD $60MM has been invested in META, yielding a sizable IP portfolio. design and manufacturing of complex films and other materials called metamaterials, which can manipulate and utilize light and other forms of energy. The company detailed its paying of a special dividend to its shareholders, as well as a reverse stock split. The newly merged company begins trading today as the Nasdaq's first 'metamaterials' stock. With its four full-time employees, Torchlights business doesnt seem like it should attract the sort of social media love that it has. Looking like March 12 for merger date? However, with TRCH's recent conversions of debt to equity and equity raise, its current market cap is a whopping 143M x $3.90 = $558M. MMAT has no desire to keep any of TRCH's assets in the combined company. (you can quote me on this). We believe this Transaction provides our shareholders with the best opportunity moving forward. It has gone up significantly since the merger announcement. 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. Metamaterial ( OTCPK:MMATF) is merging with Torchlight Energy Resources ( TRCH ). I view Metamaterial as an interesting startup in a rapidly growing sector, whose valuation has soared due to a short squeeze at, Torchlight. The stock price of Torchlight Energy Resources Inc (NASDAQ: TRCH) is trading at over 10% pre-market as of 7:14 AM ET. About Metamaterial Inc. META is changing the way we use, interact with, and benefit from light and other forms of energy. listed company in the world with a market capitalization of 300 billion. 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. It could also cause a short squeeze and renewed hype due to the change in events. Before GameStop, the most famous case was in 2008 when German auto giant Volkswagen (. 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. The shares, however, gave up some of the gains after the company upsized its stock offering. Metamaterial is getting a listing on NASDAQ in an easy way, while Torchlight investors get some money. 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