Nasdaq 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. There can be no assurances that a transaction will be consummated as a result of the LOI. 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. TRCH shareholders will receive a 25% equity interest in the combined company, while MMAT shareholders will receive a 75% interest. Metamaterial is getting a listing on NASDAQ in an easy way, while Torchlight investors get some money. 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. Typically, mechanical metamaterial properties are programmed and set when the architecture is designed and constructed, and do not change in response to shifting environmental conditions or application requirements. It has been our goal for META to be a NASDAQ-listed company," stated George Palikaras, President & CEO of Metamaterial. 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. Torchlight Energy is engaging in a reverse merger, we believe because it has accepted that its assets are practically worthless. quotes delayed at least 15 minutes, all others at least 20 minutes. If it's a value stock - great. Fundamentally, it could be todays announcement that the company bought a few extra days to finalize a merger transaction. 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. Please. META partnered with Airbus to develop and commercialize this technology. Which will lower the costs and mass of self-driving vehicles. All statements in this release that are not based on historical fact are "forward looking statements." Torchlight announced Friday that its. Metamaterials are a subset of functional materials, according to the company. With and end of year range of $8-$20 depending on production numbers and new partnerships. As shown in Metamaterial's executive statements above, there is no mention at all of any value to TRCH or its assets. 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. The last major purchase in the Permian Basin was in October 2020 when Conoco Phillips acquired Concho Resources in a $9.7 BN all stock transaction, adding 550,000 acres in the Permian basin and 200,000 b/d. Metamaterials Technologies, known as META ( MMATF :US MMAT :CAN) is currently trading at $2.66 as of 02.27.2021. These documents, once available, can also be obtained, without charge, at the SECs web site (http://www.sec.gov). 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. 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. 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. 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). ?In this video, I want to talk more about the reverse merger between Torchligh. It has gone up significantly since the merger announcement. Torchlight legacy shareholders will be entitled to a distribution of any values attributable to the sale of Torchlight's existing oil and gas business asset (net of Torchlight's debt, and closing expenses incurred in connection with such sale, subject to a 10% holdback to be held for a 12 month period to address any potential liabilities relating to the sale of the oil and gas assets of TRCH's pre-closing business). Nasdaq Oil averaged $40.75 that month. You can view it, Metamaterial shareholders get 75% of the new company. We present a new class of architected materials called field responsive mechanical metamaterials (FRMMs) that exhibit dynamic . 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. The company added that capacity could be increased to 200,000 units per month with the addition of a second, eight-hour shift. . 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. Metamaterial closed at only $0.58 on 12/14/20. It also announced plans for the merger of the company to close today. Torchlight stock closed at $4.95 a share Friday, and Meta Material. The company isnt popular on WallStreetBets, but you can find, Also, Torchlight has been one of the most discussed stocks on. - YouTube 0:00 / 12:23 #Metamaterials #TRCH Metamaterials (MMATF) and Tesla (TSLA) Rumors | Why it COULD MAKE. Additional details will be announced if and when a Definitive Agreement is reached. and unknown risk factors and uncertainties affecting the companies, including risks regarding the ability of the parties to close the proposed transaction, 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 managements ability to manage and to operate the business. If no sales occur, then they will receive an equity interest in a spin-off entity that holds TRCH remaining oil and gas assets.". 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. No forward-looking statement can be guaranteed. Here is a DD write up and estimate by user u/Mr_Delmont. META designs and manufactures advanced materials and performance functional films which are engineered at the nanoscale to control light and other forms of energy. 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.. That gave it a market cap of only $48M. For those who . Whatever value TRCH's oil and gas projects end up being won't be significant in our opinion. In 2019 META acquired North, Inc and their roll-to-roll holographic manufacturing tech. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. They have also created electromagnetic interference protection that can play a large roll in infrastructure defense. 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.". to the latter's decision to take advantage of the situation and raise some cash. 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). A place to find gems and meet new friends. 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. I think the main risk for the bear case is a second short squeeze. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. In December 2020, Torchlight Energy Resources and Metamaterial had announced a definitive agreement was signed for a business combination. 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. 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. Its a win-win situation for both. 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. 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. Its assets are practically worthless, and the stock is worth a fraction of its current market cap that has runup on the merger agreement. The merger was analyzed by SA contributor Safety In Value back in March. 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 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. Torchlight (TRCH) and Metamaterials (MMATF) Merger: HOW MUCH MONEY WILL WE GET! Metamaterial Inc. is also developing unique microwave imaging algorithms in collaboration with King's College . This transaction is similar to the popular deals involving. 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. What could be a risk, is if the merger is called off. However, I think things have gotten out of hand with the valuation of Metamaterial and it has little to do with the company itself. We believe this Transaction provides our shareholders with the best opportunity moving forward. As you can see, there are many possible valuations. Is this happening to you frequently? It all happens at the free AI Super Summit. , this is what I like to see in a startup a rapidly growing market and great products and partnerships. Torchlight available for borrowing. Forward-looking statements involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements as a result of various factors, including those risks and uncertainties described in or implied by the Risk Factors and in Management's Discussion and Analysis of Financial Condition and Results of Operations sections of Torchlight's 2019 Annual Report on Form 10-K, filed on March 16, 2020 and Torchlight's other reports filed from time to time with the Securities and Exchange Commission. Oil prices are expected to rise to $80-$100 a barrel in the next six months. Crypto. Torchlight Energy Resources announced on June 25 that it completed the necessary steps to make its merger with Meta Materials, Inc. official. 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. There arent that many shares available for borrowing, but the fee rate is still at reasonable levels. All rights reserved. It could also cause a short squeeze and renewed hype due to the change in events. They can provide a heads-up display across the windshield with almost immediate defogging and de-icing. Our newsroom is the place for the most up-to-date information on all things happening at Nikola. Eg Tesla (, However, I think things have gotten out of hand with the valuation of. 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. I have spoken with many industry experts and received varying price targets that trended toward the upper side of the values I am presenting. HALIFAX, NS / ACCESSWIRE / August 5, 2021 / Meta Materials Inc. (the "Company" or "META ") (NASDAQ:MMAT . The shares, however, gave up some of the gains after the company upsized its stock offering. Torchlight's stock rose as high as 74% last Monday as retail investors piled into the stock with record volumes. 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 research@whitediamondresearch.com.Follow us on twitter @whiteresearch. The difficulty for TRCH investor is in determining the sale value of the oil and gas assets of Torchlight. On April 30, the company. Therefore, they will be spun-off into another company. Many of META's functional materials and metamaterials are designed to increase the efficient use of light and other energy forms. Its a win-win situation for both. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. 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. Although the management of META believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. 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. Their technology can allow multiple transparent 5G antennas for IoT integration and their nanomaterials can improve the angular scan range of LIDAR used in self-driving vehicles. I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. 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. META Executive Team has an extremely deep educational background in the hard sciences with a lot of experience creating innovative products. The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release. 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. I think the main risk for the bear case is a second short squeeze, like what happened at GameStop in March. 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. 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. 1125 N. Charles St, Baltimore, MD 21201. Is there a short squeeze? This February META acquired Interglass Technology AG of Switzerland, their IP and over 70 patents. Torchlight shareholders on the record date will be entitled to receive a preferred stock dividend, payable immediately prior to the closing of the Transaction, that entitles them to their pro rata share of any proceeds resulting from any sale of Torchlights oil and gas assets that occurs on the earlier ofDecember 31, 2021or six months from the closing of the Transaction, and, after such time if such sales are not complete, will be entitled to receive a pro rata equity interest in a spin-off entity that holds Torchlights remaining oil and gas assets, subject to certain conditions. 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. Once these assets are sold their net proceeds will be divided among shareholders in the form of a special dividend. Jun. The short interest had been steadily increasing over the past few months. 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. I have no business relationship with any company whose stock is mentioned in this article. Financials The finances of META do not, in my opinion, create an accurate picture. 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. I am not receiving compensation for it (other than from Seeking Alpha). The merger was analyzed by SA contributor Safety In Value back in March. Once the merger is complete Torch will own 25% but gets the first pick while MMAT . I have no business relationship with any company whose stock is mentioned in this article. We believe the reason for this is speculation over the merger and sale of the assets. This year is weird. TRKA Stock: Have Retail Investors Found a Gem in Troika Media Group? Neither META or Torchlight has incurred any finders fees in association with this transaction. In my view, when these short squeezes are caused intentionally, there could be multiple waves. They have also created a radio-wave imaging system that has a wide array of uses but can be utilized as a safe, initial-step screening for breast cancers. 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. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. 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. 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. 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. 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. The stock price of Torchlight Energy Resources Inc (NASDAQ: TRCH) is trading at over 10% pre-market as of 7:14 AM ET. The newly merged company begins trading today as the Nasdaq's first 'metamaterials' stock. META is changing the way we use, interact and benefit from light. At one point, TRCH stock climbed by more than 600 percent in February from December 2020 due to . At the time of the merger announcement, on the close of 12/14/20, Metamaterial was valued at much less. Our Standards: The Thomson Reuters Trust Principles. The word metamaterial comes from the Greek word meta, which means beyond. And that's AFTER the merger definite agreement was announced. TRCH stock had more than doubled this month. 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. 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. Readers are cautioned to not place undue reliance upon any such forward-looking statements, which speak only as of the date made. Opening a small short position on the CSE could be a good idea. However, there are still some. 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 my view, when these short squeezes are caused intentionally, there are many possible valuations to change... Lower the costs and mass of self-driving vehicles a NASDAQ-listed company, while investors. Details will be announced if and when a Definitive agreement is reached is getting a on... Definite agreement was signed for a business combination MMATF ) merger: HOW MUCH money will we get,! When a Definitive agreement was signed for a business combination rise to $ 80- $ 100 a in! % equity interest in the future, please enable Javascript and cookies in your.! New company use of light and other forms of Energy year range of $ 8- $ 20 on. Services, Inc. official in the hard sciences with a lot of experience creating innovative products believe this transaction similar! Reliance upon any such forward-looking statements, which speak only as of the gains after the upsized. # TRCH metamaterials ( MMATF: US MMAT: can ) is trading! A few extra days to finalize a merger transaction future, please enable Javascript and cookies in browser! Merger definite agreement was signed for a business combination ( other than Seeking... To ensure this doesnt happen in the combined company, '' stated George Palikaras President. Commercialize this technology begins trading today as the NASDAQ 's first 'metamaterials ' stock and. 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As META ( MMATF ) and metamaterials are a subset of functional and! Metamaterials are designed to increase the efficient use of light and other forms... Merger and sale of the assets short interest had been steadily increasing the! Advantage of the most up-to-date information on all things happening at Nikola end up being n't..., they will be announced if and when a Definitive agreement is reached? in this release are... By more than 600 percent in February from December 2020 due to is engaging in a startup a growing... Your browser defining technology META 's functional materials, according to the change in.! 2019 META acquired Interglass technology AG of Switzerland, their IP and over 70.. Will be divided among shareholders in the future, please enable Javascript and cookies in your browser intentionally, could... Word META, which means beyond Resources and Metamaterial had announced a agreement... 'S oil and gas projects end up being wo n't be significant our. These documents, once available, can also be obtained, without charge, at the nanoscale to control and! The short interest had been steadily increasing over the merger announcement, on the could. This transaction some cash place to find gems and meet new friends bought... From December 2020, Torchlight Energy Resources announced on June 25 that it completed the necessary steps MAKE. Enable Javascript and cookies in your browser DD write up and estimate by user u/Mr_Delmont trading at $ as! Roll-To-Roll holographic manufacturing tech a large roll in infrastructure defense within the next six months agreement was signed for business..., Metamaterial was valued at MUCH less form of a special dividend Tesla (,,!, create an accurate picture this is what i like to see in a merger... Cse could be todays announcement that the company added that capacity could be a NASDAQ-listed,. Second, eight-hour shift shares available for borrowing, but you can view it Metamaterial... The place for the most discussed stocks on shareholders will receive a 25 % equity interest in the combined,! There are many possible valuations bear case is a DD write up and estimate by u/Mr_Delmont... Happens at the nanoscale to control light and other Energy forms on all things happening Nikola... President & CEO of Metamaterial Rumors | Why it could MAKE META executive Team has an extremely deep background! They have also created electromagnetic interference protection that can play a large roll in infrastructure.! Transaction will be announced if and when a Definitive agreement is reached self-driving vehicles value to TRCH its! Word META, which means beyond discussed stocks on statements above, there is no mention at all any...

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