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 has a growing patent portfolio with three core technologies; holographic, lithographic, and wireless sensing, designed for high volume applications. Which will lower the costs and mass of self-driving vehicles. Torchlight urges you to consider those risks and uncertainties in evaluating its forward-looking statements. 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. The process will essentially be TRCH starting all over again with the same assets, but not as a Nasdaq company anymore. As of the close of 2/16/21, Metamaterial was worth $3.01 CAD x 83.6M shares outstanding = $251.6M CAD. Torchlight and Metamaterial will prepare a proxy statement/prospectus for Torchlights Shareholders to be filed with the SEC. $12M is about the value of a clean empty shell Nasdaq listing. 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. 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. Many of META's functional materials and metamaterials are designed to increase the efficient use of light and other energy forms. Our Tesla Roadster expertise is particularly unparalleled and our electronics lab offers advanced services including PEM repair and rebuilds, ESS Battery Pack repair and recovery, firmware upgrades, and a variety of aftermarket products. The company added that capacity could be increased to 200,000 units per month with the addition of a second, eight-hour shift. 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. Ultimately, the deal is worth over $70 million.. Of . Theres even room for more lines. 29 2021, Published 1:58 p.m. 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. 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. 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 proxy statement/prospectus will be mailed to Torchlights Shareholders. 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. 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. 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. 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). We predict the spin-off company will be put into an OTC stock. The company stated that it believes it will be positioned to capture a significant portion of this market by being able to mass manufacture, on a cost-effective basis, the required holographic optical components for the augmented reality smart glasses market. GameStop Moderna Pfizer Johnson & Johnson AstraZeneca Walgreens Best Buy Novavax SpaceX Tesla. Metamaterial designs, develops, and manufactures advanced materials specializing in nanocomposites, nanofabrication, and machine learning to control light and electromagnetic waves. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Higher field strength systems cost much more. We present a new class of architected materials called field responsive mechanical metamaterials (FRMMs) that exhibit dynamic . 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. Torchlight will loan to Metamaterial an additionalUS$500,000, in exchange for an unsecured promissory note in substantially the same form as the 8% unsecured convertible promissory note that evidences Torchlights loan to Metamaterial ofUS$500,000onSeptember 20, 2020. Oil averaged $40.75 that month. Sign up below to get this incredible offer! Biosensors - they are in the development process of a non-puncture blood glucose monitoring system. 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. Readers are cautioned to not place undue reliance upon any such forward-looking statements, which speak only as of the date made. 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. META is headquartered in Dartmouth, Nova Scotia and has offices in London, UK and Pleasanton, California. The following is a summary of the key terms of the Proposed Transaction as contemplated by the LOI. All rights reserved. They have also created electromagnetic interference protection that can play a large roll in infrastructure defense. You can view it, Metamaterial shareholders get 75% of the new company. 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. Torchlight Energy (TRCH) -5% post-market after announcing a one-for-two reverse stock split and confirming that its merger with Metamaterial will take effect on June 28. "We look forward to driving significant value for shareholders in our mission to make every product smarter and more sustainable by utilizing the power of light and advanced materials.". Torchlight stock closed at $4.95 a share Friday, and Meta Material. That gave it a market cap of only $48M. They are composite structures, consisting of conventional materials such as metals and plastics, that are engineered by scientists to exhibit new or enhanced properties. 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. Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. Torchlight Energy Resources, Inc. (TRCH), based inPlano, Texas, is a high growth oil and gas Exploration and Production (E&P) company with a primary objective of acquisition and development of domestic oil fields. , this is what I like to see in a startup a rapidly growing market and great products and partnerships. 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. There can be no assurances that the Transaction will be consummated. , the company is being covered and promoted by several channels including Moon Market, Alpha Status Stocks, DarrenJacksonTV, Trading With CJ, and Voorhees Trading. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. CSO and co-Founder Themos Kallos is Chief Science Officer with Ph.D. in Electrical Engineering with expertise in applied physics, metamaterials, wireless communications, and electromagnetic simulations. As this is not investment advice anyways, here are some possible valuations. that it inked an agreement with a fund named Lincoln Park Capital to sell shares for up to $20.8 million. 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). The closing of the Transaction is subject to the satisfaction or waiver of customary closing conditions, including approvals by NASDAQ and the Canadian Securities Exchange (CSE), Canadian court approval, and approval by the shareholders of both companies. The webcast link will be made available and announced shortly. The Combined Company, formerly known as Torchlight Energy Resources, Inc., will at closing focus its business to align with the current business of META. META designs and manufactures advanced materials and performance functional films which are engineered at the nanoscale to control light and other forms of energy. I wrote this article myself, and it expresses my own opinions. With this reverse merger Metamaterials will be brought into the main market with Torch becoming the shell company. HALIFAX, NS / ACCESSWIRE / August 5, 2021 / Meta Materials Inc. (the "Company" or "META ") (NASDAQ:MMAT . META's portfolio comprises 28 patent families, 19 of which are granted. With and end of year range of $8-$20 depending on production numbers and new partnerships. Email:[emailprotected]. 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. Several of the videos on Torchlight have over 50,000 views each. After the merger and up-listing to the NASDAQ, I expect META to be trading no lower than $5. It has appreciated substantially. Aerospace and Defense- META has extensive experience providing laser protection, de-icing and de-fogging products to aviation companies. Financials The finances of META do not, in my opinion, create an accurate picture. It also announced plans for the merger of the company to close today. With this, Metamaterials share price is likely to tumble to around $3 per share. 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 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. 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. The merger was analyzed by SA contributor Safety In Value back in March. Torchlight urges readers to consider those risks and uncertainties in evaluating Torchlight's forward-looking statements. 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. 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. Whats behind the move? However, there are still some Metamaterial shares available in Canada. Metamaterial is getting a listing on NASDAQ in an easy way, while Torchlight investors get some money. If it's a value stock - great. It all happens at the free AI Super Summit. Fundamentally, it could be todays announcement that the company bought a few extra days to finalize a merger transaction. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Therefore, they will be spun-off into another company. Pursuant to the LOI, both Torchlight and META are prohibited from directly or indirectly soliciting or participating in any discussions regarding a sale of their business until November 2, 2020, unless extended in writing by both parties. Investors and security holders may obtain more detailed information regarding the names, affiliations and interests of Torchlights directors in its Annual Report on Form 10-K for the fiscal year endedDecember 31, 2019, which was filed with the SEC onMarch 16, 2020. The difficulty for TRCH investor is in determining the sale value of the oil and gas assets of Torchlight. 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. Only the Nasdaq listing. Metamaterial designs, develops, and manufactures advanced materials specializing in nanocomposites, nanofabrication, and machine learning to control light and electromagnetic waves. If no sales occur, then they will receive an equity interest in a spin-off entity that holds TRCH remaining oil and gas assets.". Please disable your ad-blocker and refresh. The market for metamaterials is almost non-existent at the moment but is projected to grow to $10.7 billion SAM by 2030. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Metamaterial is merging with this company, its valuation has been soaring too. As you can see, there are many possible valuations. 60 Highfield Park Dr, Dartmouth, NS B3A 4R9 Canada, Tel: 1-902-482-5729 You can view it here. quotes delayed at least 15 minutes, all others at least 20 minutes. As shown in Metamaterial's executive statements above, there is no mention at all of any value to TRCH or its assets. valued at much less. In my view, when these short squeezes are caused intentionally, there could be multiple waves. 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. Founded META in 2011, prior to that he founded MediWise, a wireless medical sensor company, he was also an antenna design engineer with AceAxis. design and manufacturing of complex films and other materials called metamaterials, which can manipulate and utilize light and other forms of energy. Through this reverse merger Torchlight receives a 25% stake in META. 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 . I think the short squeeze is likely to end soon thanks to the latter's decision to take advantage of the situation and raise some cash. We believe that it's been proven over time that TRCH's assets are worthless, and that the money received from selling them or the value of a spin-off isn't a risk to short sellers. 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 Combined Company shall use its commercially reasonable efforts to cause the Torchlight oil and gas assets to be sold by June 30th, 2021. That gave it a market cap of only $48M. If the dividend or share buyback yield is high - even better. "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. For additional information on Torchlight, please visit www.torchlightenergy.com. 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. But remember, Metamaterial is listed on the CSE. 2023 Meta Materials Inc. All rights reserved. Two of the project sites are under contract to be sold and the largest asset, the Orogrande site, is likely an extension of the Permian Basin and is being marketed to major and super major oil companies. When the business combination with Torchlight closes, obtaining a national exchange listing inthe United Statesis anticipated to provide META with significant value and increased access to global capital markets., This Transaction will expand our business reach and attract additional world-class talent. I view Metamaterial as an interesting startup in a rapidly growing sector, whose valuation has soared due to a short squeeze at Torchlight. 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). In connection with the proposed merger, Tesla has filed with the SEC a Registration Statement on Form S-4 (Registration Statement No. They have three major oil and gas assets. Neither META or Torchlight has incurred any finders fees in association with this transaction. However, what the MF article doesn't seem to realize, is that the conversion of debt to equity is part of the merger 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. 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