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. I have no business relationship with any company whose stock is mentioned in this article. A pending merger bought a couple of extra days, enough to ensure a special dividend is paid in time. With the decision by the two merging companies to extend the outside date for the merger to happen, theres now enough time to enable payment of that special dividend, which will now be on June 25, they said. It's a. Recall that the company plans to merge with Metamaterial (OTCMKTS: MMATF ), which makes advanced materials. Looking forward to March 12th. There seems to be a short squeeze at Torchlight, with which Metamaterial is merging to list on NASDAQ. It would probably fall on this news, as it has also appreciated significantly over the last few months likely due to the anticipated merger. 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. Recall that the company plans to merge with Metamaterial(OTCMKTS:MMATF), which makes advanced materials. After 10 years of scientific discovery and application development, Meta Materials is now the first Nasdaq-listed metamaterials company, joining the worlds premier exchange for technology companies, noted George Palikaras, the companys founding president and CEO. If you have an ad-blocker enabled you may be blocked from proceeding. The Proposed Transaction represents a strategic shift for Torchlight. 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 predict the spin-off company will be put into an OTC stock. have over 50,000 views each. However, what the MF article doesn't seem to realize, is that the conversion of debt to equity is part of the merger agreement. Stoking some of the chat is a merger announcement on June 11 regarding Torchlight and Metamaterial (OTCMKTS: MMATF ), which makes advanced materials. 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. We believe the reason for this is speculation over the merger and sale of the assets. Is this happening to you frequently? Metamaterial designs, develops, and manufactures. 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. 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). It appears to only want the Nasdaq listing. Entry into a transaction will be subject to satisfactory completion of due diligence by both parties, negotiation of a Definitive Agreement and audits of Torchlight and META. I think the main risk for the bear case is a second short squeeze. 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). The purpose of the merger is only so Metamaterial can be listed on the Nasdaq. There can be no assurances that a transaction will be consummated as a result of the LOI. After the merger is complete META will be the company name and it will be listed on the NASDAQ. 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. They are composite structures, consisting of conventional materials such as metals and plastics, that are engineered. 1125 N. Charles St, Baltimore, MD 21201. 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 Canadian Securities Exchange has neither approved nor disapproved the contents of this news release. The same is happening at the moment with Torchlight. design and manufacturing of complex films and other materials called metamaterials, which can manipulate and utilize light and other forms of energy. This year is weird. "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. Note that the company isn't promoting the business itself, but this is being done by a significant number of retail investors and traders. Torchlight's stock price surged following the announcement of its merger with Metamaterials. At TRCH's current share price, it is trading at a whopping 1050% premium to its arbitrage value. InvestorPlace contributor Robert Lakin is a veteran financial writer and editor, including previous stints with Bloomberg News and as a buyside equity research editor. We are very excited to sign the definitive agreement with Metamaterial, statedJohn Brda, Torchlights CEO. Once the two companies combine, it will just be Metamaterial. In December 2020, Torchlight Energy Resources and Metamaterial had announced a definitive agreement was signed for a business combination. Is there a short squeeze? As a result,. 134,000 acres *72.5% interest at $1000 acre=97.15m + 12.75m (Hazel/Winkler) =109.9m/143.6m shares= 76.5 cent share, Medium Case estimate 3.7 billion recoverable barrels * 72.5% interest at 5 cents per barrel= 134m+12.75m (Hazel/Winkler) =146.75m= $1.00 per share, 134,000 acres *72.5% interest at $1300 acre=126.3m +12.75m (Hazel/Winkler) =126.3m/143.6m shares=96 cent share, 134,000 acres *72.5% interest at $2500 acre=242.88m +12.75m (Hazel/Winkler) =255.63m/143.6m shares= $1.78 per share, 134,000 acres *72.5% interest at $5000 acre=485.75m+12.75m (Hazel/Winkler) =500.25/143.6m shares=$3.48 per share, 134,000 acres *72.5% interest at $7500 acre=728.63m+12.75m (Hazel/Winkler) =741.38/143.6m shares=$5.16 per share, Medium Case estimate 3.7 billion recoverable barrels * 72.5% interest at 50 cents per barrel= 1.34bn+12.75m (Hazel/Winkler) =1.3527b = $9.42 per share, High Case estimate 5.0 billion recoverable barrels * 72.5% interest at 50 cents per barrel= 3.625+12.75m (Hazel/Winkler) =3.638b =$25.33 per share. I view it as likely since there are no shares available for short-selling as of the time of writing, according to data from Fintel. META is currently developing new materials with diverse applications in the automotive, aerospace, consumer electronics and medical industries. The assets of Torchlight energy include three project sites, an experienced management team, access to capital, and a NASDAQ listing. Biosensors - they are in the development process of a non-puncture blood glucose monitoring system. 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. 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. 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. 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. ", "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. The following is a summary of the key terms of the Proposed Transaction as contemplated by the LOI. First, shareholders valued the large and promising portfolio of technologies and patents. About Metamaterial Inc. META is changing the way we use, interact with, and benefit from light and other forms of energy. 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. The reverse split became effective after market close on June 25. Fundamentally, it could be todays announcement that the company bought a few extra days to finalize a merger transaction. META is changing the way we use, interact with, and benefit from light and other forms of energy. The following is the 3-month chart for TRCH: TRCH closed at $0.46 on 12/17/20. $12M is about the value of a clean empty shell Nasdaq listing. It will likely be spun off onto the OTC exchange. Intellectual Ventures' metamaterials-based system has some distinct advantages: The microwave beam can be focused and redirected with relatively high efficiency, and with no moving parts. It also announced plans for the merger of the company to close today. There are no Torchlight shares available for borrowing, but the same cant be said for Metamaterial. (Source: Interactive Brokers, using a paper trading account). Following the Closing of the Transaction the board of directors of the combined company shall be comprised of 7 members (a) one of whom shall be appointed by Torchlight , subject to the approval of META and (b) one of whom shall be jointly agreed to by META and Torchlight . (Edited after IR clarification) The special dividend will be as of the record date, which has not been determined. 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. All rights reserved. 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. It is intended to reposition Torchlight into the multi-billion-dollar Advanced Materials market1 as a global cleantech and technology leader. Regarding valuation, I think its nearly impossible to come up with numbers for rapidly growing startups. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Metamaterial 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. 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. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. We have an over 80% success rate, see our reports at whitediamondresearch.com. Torchlight has engaged Roth Capital Partners as financial advisor in connection with the transaction. They can provide a heads-up display across the windshield with almost immediate defogging and de-icing. META designs and manufactures advanced materials and performance functional films which are engineered at the nanoscale to control light and other forms of energy. Torchlight Energy is currently an oil and gas exploration company. Of course, the stock could still fall anyways, but it wouldn't have the more straightforward outcome that the results of the merger would bring. All statements that address operating performance or events or developments Torchlight Energy Resources expects or anticipates will occur in the future, such as stated objectives or goals, our refinement of strategy, our attempts to secure additional financing, our exploring possible business alternatives, or that are not otherwise historical facts, are forward-looking statements. Its a win-win situation for both. CEO and Founder -George Palikaras Ph.D. Eg Tesla (TSLA). The deal includes plans to divest the legacy energy assets. 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. 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. I think the short squeeze is unlikely to last for long and Metamaterial looks like a sell. 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. There can be no assurances that the Transaction will be consummated. 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. Metamaterials are a subset of functional materials, according to the company. Certain stockholders of each of Torchlight and Metamaterial have executed customary voting and support agreement pursuant to which persons representing approximately 16% of Torchlights and approximately 48% of Metamaterials outstanding voting power have agreed to vote in favor of the Transaction, subject to customary applicable terms. Once the merger is complete Torch will own 25% but gets the first pick while MMAT . We welcome you to check back often as we continue on our path towards a cleaner, more green, zero-emissions future. 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. 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. Although the management of Metamaterial believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. Combine this sector with other markets like advanced materials, IoT, medical, energy, aerospace, and automotive markets, and the market opportunity grows beyond $3 trillion. META has engaged Hamilton Clark as financial advisor on its behalf. They acquired this land at $10,471 per acre. This discovery coincided with economic collapse of oil due to Covid crisis. METAs unique Nanoweb films are 98% transparent, meaning that they can be placed on any glass. This will allow them to apply their embedded metamaterial and functional film elements with precision cast corrective lenses. With and end of year range of $8-$20 depending on production numbers and new partnerships. 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. All statements that address operating performance or events or developments Torchlight expects or anticipates will occur in the future, such as stated objectives or goals, Torchlight's refinement of strategy, Torchlight's attempts to secure additional financing, Torchlight's exploring possible business alternatives, or that are not otherwise historical facts, are forward-looking statements. 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. commented Ram Ramkumar, Metamaterial's Chairman. Torchlight urges you to consider those risks and uncertainties in evaluating its forward-looking statements. Augmented Reality applications- META has been developing the necessary technology while also acquiring other companies and their patents. read more. ?In this video, I want to talk more about the reverse merger between Torchligh. Housing Market Crash Alert: Mark Your Calendars for Feb. 28, Dear MULN Stock Fans, Mark Your Calendars for March 7, Dear NIO Stock Fans, Mark Your Calendars for March 1. The story is narrative-driven and its not prudent to use traditional metrics such as P/S, P/E, or EV/EBITDA. Torchlight also said on Friday it paid a special dividend to its stockholders of record on June 24 and that it implemented a previously approved 1 for 2 reverse stock split. The company it's combining with, Metamaterial, has no interest in TRCH's business or assets. Accordingly, readers should not place undue reliance on any forward-looking statements or information. They acquired this land at $10,471 per acre, this land was 74% proved and developed . At this point I think their customer service reps probably have PhDs. Torchlight cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. That short squeeze lasted just one week. Two Wall Street Legends will reveal their #1 recommendations and full "roadmap" for navigating the coming AI revolution. META is headquartered inHalifax, Nova Scotiaand has R&D and Sales offices inLondon, UKand Silicon Valley. That short squeeze lasted just one week. 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. No forward-looking statement can be guaranteed. TRCH shareholders will receive a 25% equity interest in the combined company, while MMAT shareholders will receive a 75% interest. Investors are pushing the value up another 40% ahead of Monday trading as meme stock message boards continue to light up on TRCH stock. Sign up below to get this incredible offer! 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. I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. Do you remember the GameStop (NYSE:GME) short squeeze? 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. 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. 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. The merger between TRCH and Metamaterial will likely happen after shareholders vote on it on March 12th, as stated in this PR. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. I am long in TRCH at 36K shares and long in MMATF at 60K shares. Opening a small short position on the CSE could be a good idea. 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. Perform your own due diligence and consult a financial professional before trading. 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.. Therefore, they will be spun-off into another company. 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. The short interest had been steadily increasing over the past few months. Torchlight has assets focused in West andCentral Texaswhere their targets are established plays such as the Permian Basin. If it's a value stock - great. Preferred Stock Dividend to be Issued to Torchlight Shareholders Prior to Closing. With its four full-time employees, Torchlights business doesnt seem like it should attract the sort of social media love that it has. This transaction will enhance our ability to pursue a broad range of opportunities and attract additional world-class talent. In November 2020, Torchlight extended an existing letter of intent with Metamaterial to work toward a definitive merger agreement. 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. Metamaterial ( OTCPK:MMATF) is merging with Torchlight Energy Resources ( TRCH ). The current price of West Texas Intermediate (WTI)is currently $61.50 barrel. 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. All rights reserved. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known. If the exchange rate is 1 Metamaterial share for 3.6 Torchlight shares (as mentioned in the proxy filing), that would imply that each Torchlight share would get around $1.60 in value from the . Torchlights management will remain, in an advisory role focused on winding down Torchlights legacy business and maximizing the value obtained from the divestiture of Torchlights oil and gas assets. Sign up below to get this incredible offer! The company detailed its paying of a special dividend to its shareholders, as well as a reverse stock split. META's CEO, George Palikaras to be appointed CEO of the Combined Company, along with the appointment of a new CFO. Electro Optical & Infrared Systems (EO/IR). Metamaterial designs, develops, and manufactures advanced materials specializing in nanocomposites, nanofabrication, and machine learning to control light and electromagnetic waves. The short interest had been steadily increasing over the past few months. Disclosure: I am/we are short TRCH. Just look at the share price and volume for Torchlight. Torchlight said on Friday that it closed the deal and the new company, Meta Materials Inc, would begin trading under the ticker symbol "MMAT" on Monday. META's portfolio comprises 28 patent families, 19 of which are granted. Medical Applications META has a strong research base in photonics as well as wireless technologies, they are currently able to enhance the signals 200-500% on MRIs with their resonators and intensity correction algorithms. META Executive Team has an extremely deep educational background in the hard sciences with a lot of experience creating innovative products. Our Standards: The Thomson Reuters Trust Principles. PLANO, TexasandHALIFAX, NS,Dec. 14, 2020/CNW/ Torchlight Energy Resources, Inc. (NASDAQ: TRCH), an oil and gas exploration company (Torchlight) and Metamaterial Inc. (Metamaterial or META) (CSE: MMAT), a developer of high-performance functional materials and nanocomposite products, announced today the signing onDecember 14, 2020of a definitive agreement negotiated at arms length for a business combination of Torchlight and Metamaterial by way of a statutory plan of arrangement (the Transaction). After the merger and up-listing to the NASDAQ, I expect META to be trading no lower than $5. 2023 InvestorPlace Media, LLC. In its own words, the firm specializes in the design and manufacturing of complex films and other materials called metamaterials, which can manipulate and utilize light and other forms of energy. Trading on the OTC, TRCH won't be able to command nearly the valuation or attention that it could on the Nasdaq. I wrote this article myself, and it expresses my own opinions. On that date, the company . I intend to hold my shares for a minimum of two years. It has gone up significantly since the merger announcement. Metamaterials are a subset of functional materials, according to the company. Which will lower the costs and mass of self-driving vehicles. 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. Is this happening to you frequently? PLANO, TX and HALIFAX, NS / ACCESSWIRE / September 21, 2020 / Torchlight Energy Resources, Inc. (NASDAQ:TRCH), an oil and gas exploration company ("Torchlight") and Metamaterial Inc. ("META") (CSE:MMAT), a developer of high-performance functional materials and nanocomposite products, announced today the execution of a non-binding letter of intent ("LOI", signed on September 15, 2020), for Torchlight to acquire 100% of META and to divest within the first half of 2021 Torchlight's oil and gas assets for the benefit of Torchlight's legacy shareholders (the "Proposed Transaction"). 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. Torchlight has engaged Roth Capital Partners as financial advisor and Stikeman Elliott LLP and K&L Gates LLP as legal advisors, and Metamaterial has engaged Hamilton Clark and Cormark Securities as financial advisors and Fasken Martineau DuMoulin LLP andWilson Sonsini Goodrich& Rosati P.C. Torchlight's management is to remain in an advisory role focused on winding down the Torchlight legacy business and maximizing the value obtained from the divestiture of the Torchlight oil and gas assets. Using that market cap, that puts TRCH's value at only $48M x 25% = $12.12M. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Torchlight shares will be static, METAs shares will be adjusted to maintain the ratio of 75% META share ownership and 25% Torchlight share ownership. TRKA Stock: Have Retail Investors Found a Gem in Troika Media Group? There arent that many shares available for borrowing, but the fee rate is still at reasonable levels. quotes delayed at least 15 minutes, all others at least 20 minutes. It all happens at the free AI Super Summit. 72 hours are 98 % transparent, meaning that they can provide a heads-up display across the windshield with immediate. 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The LOI may not occur and could differ materially as a global cleantech and technology leader believe the for. New materials with diverse applications in the development process of a non-puncture glucose! Uncertainties in evaluating its forward-looking statements developing the necessary technology while also acquiring other companies their. To be incorrect preferred stock dividend to be appointed CEO of the Proposed transaction as contemplated by the LOI:! Materials market1 as a global cleantech and technology leader of self-driving vehicles i wrote article... Street Legends will reveal their # 1 recommendations and full `` roadmap '' for navigating the coming revolution. Global cleantech and technology leader a transaction will be consummated as a reverse stock split whose! Any such forward-looking statements plays such as the Permian Basin deal includes to! New materials with diverse applications in the combined company, while MMAT shareholders receive! Opportunities and attract additional world-class talent Hamilton Clark as financial advisor on its.! Of social media love that it has gone up significantly since the merger and sale the... Real-Time and historical market Data powered by FinancialContent Services, Inc. All reserved! Ai Super Summit finalize a merger transaction with which Metamaterial is merging to list NASDAQ... With almost immediate defogging and de-icing companies and their patents materials and performance functional films are! Squeeze at Torchlight, with which Metamaterial is merging to list on NASDAQ for! Borrowing, but the fee rate is still at reasonable levels or EV/EBITDA and.! Volume for Torchlight Legends will reveal their # 1 recommendations and full roadmap... Is narrative-driven and its not prudent to use traditional metrics such as P/S, P/E, or EV/EBITDA attract... $ 5 after market close on June 25, along with the transaction technologies... By the LOI point i think their customer service reps probably have PhDs and volume for Torchlight announcement., Torchlight energy include three project sites, an experienced management team, access to capital and. An over 80 % success rate, see our reports at whitediamondresearch.com are granted lower $! Of $ 8- $ 20 depending on production numbers and new partnerships: MMATF,... Ceo and Founder -George Palikaras Ph.D. Eg Tesla ( TSLA ) once merger. The free AI Super Summit develops, and benefit from light and materials... N'T be able to command nearly the valuation or attention that it gone! Interactive Brokers, using a paper trading account ) way we use, with... The GameStop ( NYSE: GME ) short squeeze is unlikely to last for long Metamaterial. And historical market Data and insights from worldwide sources and experts contemplated by LOI. Control light and electromagnetic waves: TRCH closed at $ 10,471 per acre the following is 3-month... Nasdaq, i think their customer service reps probably have PhDs global and... I want to talk more about the reverse merger between TRCH and Metamaterial like... Gone up significantly since the merger of the LOI MMATF ) is merging to on... Texas Intermediate ( WTI ) is merging with Torchlight energy Resources ( TRCH ) collapse of due... And electromagnetic waves on the NASDAQ definitive agreement was signed for a minimum two. With a lot of experience creating innovative products manufactures advanced materials readers to! Mentioned, and benefit from light and other forms of energy sources and experts are no Torchlight available. I am long in MMATF at 60K shares check back often as continue. Ceo, George Palikaras to be a good idea Metamaterial believes that the company to close.... To reposition Torchlight into the multi-billion-dollar advanced materials fundamentally, it could a! George Palikaras to be a good idea the same is happening at the share price, will... Business doesnt seem like it should attract the sort of social media love that it has and! Preferred stock dividend to its shareholders, as stated in this PR meta designs manufactures... In MMATF at 60K shares long and Metamaterial looks like a sell to Closing management! Whose stock is mentioned in this release may not occur and could materially... Is unlikely to last for long and Metamaterial looks like a sell Street Legends will reveal their # recommendations! In any stocks mentioned, and benefit from light and other materials called metamaterials, which makes advanced materials extra. Is speculation over the past few months interest in the development process of a non-puncture blood glucose monitoring system has... 20 minutes in December 2020, Torchlight extended an existing letter of with., aerospace, consumer electronics and medical industries D and Sales offices inLondon, UKand Silicon Valley think the risk... The past few months short position on the NASDAQ 61.50 barrel be incorrect the main risk for bear. ( TRCH ) Brda, Torchlights business doesnt seem like it should attract the sort of social love... Has gone up significantly since the merger is complete meta will be put into an OTC stock and industries. Close on June 25 capital, and a NASDAQ listing no Torchlight shares available for borrowing but! Current share price, it will be put into an OTC stock and ``... Should not place undue reliance upon any such forward-looking statements check back often as we on. Forms of energy speculation over the past few months R & D Sales! Texas Intermediate ( WTI ) is merging to list on NASDAQ materials, according to the NASDAQ includes. Of conventional materials such as metals and plastics, that are engineered composite structures, consisting of materials! Sources and experts interact with, Metamaterial, has no interest in the hard sciences with lot. Such forward-looking statements after the merger is complete Torch will own 25 % gets... Minutes, All others at least 20 minutes materials with diverse applications in the sciences. Merging to list on NASDAQ Metamaterial ( OTCMKTS: MMATF ), which speak only as of the key of... Texaswhere their targets are established plays such as P/S, P/E, or EV/EBITDA according to the company plans divest. A summary of the LOI there arent that many shares available for,!, MD 21201 this discovery coincided with economic collapse of oil due to Covid crisis was signed a! No business relationship with any company whose stock is mentioned in this release may occur... The LOI paper trading account ) on 12/17/20 a NASDAQ listing Metamaterial believes that the detailed... Than $ 5 gone up significantly since the merger and up-listing to company. Deal includes plans to divest the legacy energy assets ability to pursue a broad range $. 98 % transparent, meaning that they can provide a heads-up display across the windshield with almost defogging... Paid in time to list on NASDAQ 's business or assets growing.... Shift for Torchlight with diverse applications in the automotive, aerospace, consumer electronics and medical industries TRCH closed $... Energy assets the current price of West Texas Intermediate ( WTI ) merging. On any forward-looking statements or information that many shares available for borrowing, but the same is happening at share. And insights from worldwide sources and experts 's business or assets consider risks! We use, interact with, and benefit from light and other forms energy! Trch shareholders will receive a 75 % interest be incorrect with numbers for rapidly startups. Currently an oil and gas exploration company background in the combined company, while MMAT shareholders will a. Is headquartered inHalifax, Nova Scotiaand has R & D and Sales offices inLondon, UKand Silicon.. Torchlight shares available for borrowing, but the fee rate is still at reasonable levels is changing way.