metamaterials tesla merger

Please. It all happens at the free AI Super Summit. They acquired this land at $10,471 per acre, this land was 74% proved and developed . Metamaterials CEO,George Palikaraswill be appointed CEO of the combined company, along with the appointment ofKenneth L. Riceas CFO and Executive Vice President. Perform your own due diligence and consult a financial professional before trading. 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. (Source: Interactive Brokers, using a paper trading account). As stated in the announcement: "Prior to the merger, TRCH shareholders will receive a dividend of proceeds from selling TRCH's oil and gas assets. Automotive HUD See Solution De-icing / De-fogging See Solution Transparent Antennas See Solution I wrote this article myself, and it expresses my own opinions. special purpose acquisition companies (SPACs). The purpose of the merger is only so Metamaterial can be listed on the Nasdaq. Please disable your ad-blocker and refresh. Liquidity is low on. Special Dividend Intended to be Issued to Torchlight Shareholders at Closing. The story is narrative-driven and its not prudent to use traditional metrics such as P/S, P/E, or EV/EBITDA. Torchlight Energy (TRCH) is currently trading at $2.48, with a 356.15m market cap, 143.61m shares. 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. That equals $251.6/1.27 = $198M USD. 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. META is developing several technologies that are designed to benefit the automotive industry and its customers. The reason why investing in short squeezes is a bad idea is because they dont last long. The company hasn't made any significant progress since our report with selling or developing any of its oil and gas assets. The company detailed its paying of a special dividend to its shareholders, as well as a reverse stock split. 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. 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. Metamaterial ( OTCPK:MMATF) is merging with Torchlight Energy Resources ( TRCH ). Brooklyn ImmunoTherapeutics made a similar move. 3rd party valuation of potential recoverable hydrocarbons, 2. Stoking some of the chat is a merger announcement on June 11 regarding Torchlight and Metamaterial (OTCMKTS: MMATF ), which makes advanced materials. 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"). Therefore, they will be spun-off into another company. If a Definitive Agreement is entered into, it is expected that the closing of a transaction will include customary closing conditions, including NASDAQ and CSE approval and approval by the shareholders of both companies, in addition to the closing conditions described above. It would probably fall on this news, as it has also appreciated significantly over the last few months likely due to the anticipated merger. Metamaterial closed at only $0.58 on 12/14/20. 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. I am not receiving compensation for it (other than from Seeking Alpha). I view Metamaterial as an interesting startup in a rapidly growing sector, whose valuation has soared due to a short squeeze at Torchlight. As a result, META has won a number of industry awards and federal government grants for its pioneering work, including being named among the "2019 Global Cleantech 100", by Cleantech Group. Post from CEO of Metamaterial saying first step of merger is complete. Many emerging technologies have historically been adopted by the automotive industry to improve performance, safety and comfort. META designs and manufactures advanced materials and performance functional films which are engineered at the nanoscale to control light and electromagnetic waves. 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. It has been our goal for META to be a NASDAQ-listed company, stated George Palikaras, President & CEO of Metamaterial. However, a termination of the merger would likely a be a bad event for Metamaterial's share price, because then it would be stuck trading on the Canadian exchange and would have to find a new Nasdaq reverse merger candidate. 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. Lorem ipsum dolor sit amet, consectetur adipiscing elit. 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. 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. Torchlight has assets focused in West andCentral Texaswhere their targets are established plays such as the Permian Basin. 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). InvestorPlace contributor Robert Lakin is a veteran financial writer and editor, including previous stints with Bloomberg News and as a buyside equity research editor. The webcast link will be made available and announced shortly. In connection with the proposed merger, Tesla has filed with the SEC a Registration Statement on Form S-4 (Registration Statement No. As we believe TRCH's assets are practically worthless, we don't believe they will be able to sell them for any meaningful sum. 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. (you can quote me on this). Nasdaq June 28 (Reuters) - 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 Resources, which was at the center of huge speculative bets by small individual traders. Hazel-Midland Basin -12,000 gross (9,600 net acres) 80% WI (operated) under contract for 12.4m ($1300 acre), 3. Copyright The current price of West Texas Intermediate (WTI)is currently $61.50 barrel. The following is a summary of the key terms of the Proposed Transaction as contemplated by the LOI. Article printed from InvestorPlace Media, https://investorplace.com/2021/06/trch-stock-the-big-news-that-has-torchlight-energy-soaring-today/. I am not receiving compensation for it (other than from Seeking Alpha). Jun. Opening a small short position on the CSE could be a good idea. There seems to be a short squeeze at Torchlight, with which Metamaterial is merging to list on NASDAQ. Eg Tesla (, However, I think things have gotten out of hand with the valuation of. TRCH stock had more than doubled this month. 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 short is more appealing when there's a clear endgame in sight. Our extensive technology platform is software and AI-design driven. 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. If no sales occur, then they will receive an equity interest in a spin-off entity that holds TRCH remaining oil and gas assets.". 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. The difficulty for TRCH investor is in determining the sale value of the oil and gas assets of Torchlight. However, there are still some Metamaterial shares available in Canada. We believe the reason for this is speculation over the merger and sale of the assets. Looking forward to March 12th. Additional risks and uncertainties are described in or implied by the Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of Operations sections of Torchlights 2019 Annual Report on Form 10-K, filed onMarch 16, 2020and other reports filed from time to time with the SEC. META designs and manufactures advanced materials and performance functional films which are engineered at the nanoscale to control light and other forms of energy. Neither META or Torchlight has incurred any finders fees in association with this transaction. Torchlight stock closed at $4.95 a share Friday, and Meta Material. Since 2011, approximately CAD $60MM has been invested in META, yielding a sizable IP portfolio. We welcome you to check back often as we continue on our path towards a cleaner, more green, zero-emissions future. But . Of . Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. 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