On December 14, 2020, the companies signed an agreement for the . "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.". 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. They are composite structures, consisting of conventional materials such as metals and plastics, that are engineered by scientists to exhibit new or enhanced properties. However, there are still some. This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Torchlight or Metamaterial, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. 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. Since 2011, approximately CAD $60MM has been invested in META, yielding a sizable IP portfolio. META has an extensive intellectual property portfolio, a global presence and multiple R&D and product development agreements with government agencies and private enterprises. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. Neither META or Torchlight has incurred any finders fees in association with this transaction. which is measured in Tesla (T). 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. 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 and is currently developing new materials with diverse applications in concert with companies in the automotive, aerospace, energy, consumer electronics and. Disclosure: I am/we are short TRCH. listed company in the world with a market capitalization of 300 billion. These will be ultra-thin, light, flexible, can be applied to flat or curved surfaces and will be able to add onboard power and charging. 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. Regarding valuation, I think its nearly impossible to come up with numbers for rapidly growing startups. There seems to be a short squeeze at Torchlight, with which Metamaterial is merging to list on NASDAQ. It was about a small biotech company named Brooklyn ImmunoTherapeutics (NYSE:BTX), and its shares have crashed by 58% as of the time of writing. I am excited to work with the META team and equally excited about the outcome for our faithful Torchlight shareholders.. In connection with the Transaction, Torchlight and Metamaterial respectively obtained fairness opinions. 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 Materials' (META) stock faced a lot of praise and headwinds in 2021. 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. 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. Liquidity is low on. Nasdaq 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. Higher field strength systems cost much more. (5) NanoWeb - A Revolutionary Transparent Conductive Film - YouTube. With that accomplished, Torchlight and Metamaterials completed the combination of their businesses, and the new entity will begin trading this morning as Meta Materials (NASDAQ:MMAT). Of . Using that market cap, that puts TRCH's value at only $48M x 25% = $12.12M. Torchlight Energy (TRCH) is currently trading at $2.48, with a 356.15m market cap, 143.61m shares. 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. Opening a small short position on the CSE could be a good idea. There is no share available for short selling at Torchlight. 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. Torchlight cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Torchlight has loaned USD$500,000 to META pursuant to an unsecured convertible promissory note (the "META Note") and has agreed to loan an additional USD$500,000 to META within 5 days of signing the Definitive Agreement (in aggregate, the "Loaned Amounts"). Using that market cap, that puts TRCH's value at only $48M x 25% = $12.12M. I intend to hold my shares for a minimum of two years. as legal advisors. META partnered with Airbus to develop and commercialize this technology. As well as the conversion of the company's debt to equity. GameStops January short squeeze lasted just around two weeks and ended just as mainstream media picked up the story. All quotes delayed a minimum of 15 minutes. They have been investing money into research and development, IP acquisitions and scaling their operations. 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. that it inked an agreement with a fund named Lincoln Park Capital to sell shares for up to $20.8 million. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and META 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. 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. Stoking some of the chat is a merger announcement on June 11 regarding Torchlight and Metamaterial (OTCMKTS: MMATF ), which makes advanced materials. I am not receiving compensation for it (other than from Seeking Alpha). It has been our goal for META to be a NASDAQ-listed company, stated George Palikaras, President & CEO of Metamaterial. Crypto. The opinions expressed in this article are those of the writer, subject to theInvestorPlace.comPublishing Guidelines. Copyright 2023 InvestorPlace Media, LLC. All articles are my opinion - they are not suggestions to buy or sell any securities. Therefore, they will be spun-off into another company. 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 view Metamaterial as an interesting startup in a rapidly growing sector, whose valuation has soared due to a short squeeze at, Torchlight. META designs and manufactures advanced materials and performance functional films which are engineered at the nanoscale to control light and electromagnetic waves. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. META designs and manufactures advanced materials and performance functional films which are engineered at the nanoscale to control light and other forms of energy. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Trading on the OTC, TRCH won't be able to command nearly the valuation or attention that it could on the Nasdaq. 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. Need more information or have an interview request? Torchlight also announced that it implemented a 1 . Accordingly, readers should not place undue reliance on any forward-looking statements or information. It's a totally unrelated company to TRCH's oil and gas exploration business. (Source: Interactive Brokers, using a paper trading account). 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. The following is the 3-month chart for TRCH: TRCH closed at $0.46 on 12/17/20. The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release. There can be no assurances that a transaction will be consummated as a result of the LOI. The deal includes plans to divest the legacy energy assets. As of the close of 2/16/21, Metamaterial was worth $3.01 CAD x 83.6M shares outstanding = $251.6M CAD. I have no business relationship with any company whose stock is mentioned in this article. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Again, assuming that TRCH's assets are worthless and not including any special dividend, if the merger happened today, TRCH shareholders would face a 90% loss on their investment. Metamaterial ( OTCPK:MMATF) is merging with Torchlight Energy Resources ( TRCH ). Please disable your ad-blocker and refresh. Copyright 2023 InvestorPlace Media, LLC. Fundamentally, it could be todays announcement that the company bought a few extra days to finalize a merger transaction. In November 2020, Torchlight extended an existing letter of intent with Metamaterial to work toward a definitive merger agreement. We are here to support any Tesla vehicle with repair services, parts, upgrades, and advanced engineering services. Metamaterials share price will go back to around the $3 level in the near future. All articles are my opinion - they are not suggestions to buy or sell any securities. All rights reserved. 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. META's CEO, George Palikaras to be appointed CEO of the Combined Company, along with the appointment of a new CFO. I think the main risk for the bear case is a second short squeeze, like what happened at GameStop in March. - PennyQueen, Projected Markets for Metamaterials to 2023, Smart Materials: Opportunities in Structural Electronics and Electrics to 2030, Article on GlobeNewswire About Global Photovoltaic Markets, Worldwide Revenue from Electric Vehicles Since 2010, Internet of Things Forecasts and Market Estimates, largest domestic newfield discovery in over 30 years, under contract for $450k (350k to Torchlight), Conoco Phillips acquired Concho Resources. 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. ?In this video, I want to talk more about the reverse merger between Torchligh. 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. They just received a 10m loan from Torchlight to continue this expansion. At this point I think their customer service reps probably have PhDs. 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. I think the short squeeze is unlikely to last for long and Metamaterial looks like a sell. 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. This confirms to us that our analysis on TRCH is correct. With its four full-time employees, Torchlights business doesnt seem like it should attract the sort of social media love that it has. Short squeezes rarely last long and Torchlight is selling shares, which is a very good scenario to take a short position. The merger was analyzed by SA contributor Safety In Value back in March. The industry leader for online information for tax, accounting and finance professionals. ", "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. Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. Cardano Dogecoin Algorand Bitcoin Litecoin Basic Attention Token Bitcoin Cash. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. In 2020 to date, META has been granted 11 new patents. "We recognize the significant value in having a national exchange listing in the United States that will provide META with better access to the capital markets," commented George Palikaras, Metamaterial's President and Chief Executive Officer. Torchlight has assets focused in West and Central Texas where their targets are established plays such as the Permian Basin. It has appreciated substantially. Automotive HUD See Solution De-icing / De-fogging See Solution Transparent Antennas See Solution The market for metamaterials is almost non-existent at the moment but is projected to grow to $10.7 billion SAM by 2030. 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. Article printed from InvestorPlace Media, https://investorplace.com/2021/06/trch-stock-the-big-news-that-has-torchlight-energy-soaring-today/. 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. 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. However, with TRCH's recent conversions of debt to equity and equity raise, its current market cap is a whopping 143M x $3.90 = $558M. 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. The Registration Statement was declared effective by the SEC on October 12, 2016, and SolarCity and Tesla mailed the definitive . We believe this Transaction provides our shareholders with the best opportunity moving forward. Valuation The value oil drilling acreage is a moving target after the price of crude oil started collapsing in March of 2020. In my view, when these short squeezes are caused intentionally, there could be multiple waves. Transformational Deal to Accelerate Growth, Scale and Commercialization of Metamaterials. 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. Metamaterial wants a clean balance sheet for the merger to happen, it has nothing to do with freeing up the debt for TRCH's oil and gas projects. 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. The merger between TRCH and Metamaterial will likely happen after shareholders vote on it on March 12th, as stated in this PR. We believe the reason for this is speculation over the merger and sale of the assets. But remember, Metamaterial is listed on the CSE. "I am excited to work with them and equally excited about the outcome for our faithful Torchlight shareholders. This transaction is similar to the popular deals involving. However, there are still some Metamaterial shares available in Canada. Biosensors - they are in the development process of a non-puncture blood glucose monitoring system. 1125 N. Charles St, Baltimore, MD 21201. Jun. See here for a complete list of exchanges and delays. Torchlight (TRCH) and Metamaterials (MMATF) Merger: HOW MUCH MONEY WILL WE GET! GameStop Moderna Pfizer Johnson & Johnson AstraZeneca Walgreens Best Buy Novavax SpaceX Tesla. Although the management of Metamaterial believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. Theres even room for more lines. I wrote this article myself, and it expresses my own opinions. We don't think the spinoff will end up being worth much more than what TRCH shares were worth in November, which was about $0.25-$0.40 per share. Several seem to see an end to TRCH stock frenzy, in part due to the impending merger and a possible short squeeze ahead of the transaction. Ive already covered one short squeeze selling opportunity in 2021. 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. We have an over 80% success rate, see our reports at whitediamondresearch.com. Article printed from InvestorPlace Media, https://investorplace.com/2021/06/mmat-stock-meta-materials-hits-nasdaq-as-trch-stock-merger-closes/. 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. Effectively, TRCH's business will be extracted from the Nasdaq listing and put aside into an OTC listing where it will go to "die". Today, I want to talk about how an interesting Canadian startup named Metamaterial (. META designs and manufactures advanced materials and performance functional films which are engineered at the nanoscale to control light and other forms of energy. Assuming that TRCH's assets are worthless, based on Metamaterial's market cap, that values TRCH at $198 x 25% = $49.50M, which equals a share price of $49.5M/143M = $0.35. Metamaterial is listed on the CSE. On that date, the company . The story is narrative-driven and its not prudent to use traditional metrics such as P/S, P/E, or EV/EBITDA. The Combined Company, formerly known as Torchlight Energy Resources, Inc., will at closing focus its business to align with the current business of META. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the "safe harbor" created by those sections. Readers are cautioned to not place undue reliance upon any such forward-looking statements, which speak only as of the date made. Metamaterial has some interesting products at the moment. Two Wall Street Legends will reveal their #1 recommendations and full "roadmap" for navigating the coming AI revolution. META's portfolio comprises 28 patent families, 19 of which are granted. Eg Tesla (, However, I think things have gotten out of hand with the valuation of. It did sell its interest in its Winkler Project in November for $450K, but that's not a significant sum. Sign up below to get this incredible offer! (Edited after IR clarification) The special dividend will be as of the record date, which has not been determined. Opening a small short position on the CSE could be a good idea. Ultimately, the deal is worth over $70 million.. An entity owned by Greg McCabe, Torchlight's Chairman, provided a bridge loan to Torchlight for USD $1.5 Million with a conversion feature of $.375 per common share of Torchlight. It also announced plans for the merger of the company to close today. Liquidity is low on the OTC market and there is no data on the availability of Metamaterial for sale. There is no share available for short selling at Torchlight. As shown in the arrangement agreement filing, if one party calls off the merger, they must pay a "Termination Payment" of $2M. That short squeeze lasted just one week. However, what the MF article doesn't seem to realize, is that the conversion of debt to equity is part of the merger agreement. Just look at the share price and volume for Torchlight. If it's a value stock - great. 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 provide deep research and valuable information on small cap stocks to hedge funds and high net worth individuals. This transaction will enhance our ability to pursue a broad range of opportunities and attract additional world-class talent. Such statements are based on the current expectations and views of future events of the management of Metamaterial and are based on assumptions and subject to risks and uncertainties. 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. 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. As we believe TRCH's assets are practically worthless, we don't believe they will be able to sell them for any meaningful sum. 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. Torchlight Energy is engaging in a reverse merger, we believe because it has accepted that its assets are practically worthless. The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release. 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. 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 . Holders of Exchangeable Shares will be entitled to cast votes on matters for which holders of Torchlight common stock are entitled to vote and will be entitled to receive dividends that are economically equivalent to the dividends declared by Torchlight with respect to its common stock. 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. They acquired this land at $10,471 per acre, this land was 74% proved and developed . 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. Through this reverse merger Torchlight receives a 25% stake in META. The proxy statement/prospectus will be mailed to Torchlights Shareholders. On 4/29/19, we published a report that stated we believe that Torchlight Energy (TRCH) assets are worthless and that "we do not believe Torchlight will be able to successfully complete the sale of the company or its asset(s).". The merger was analyzed by SA contributor Safety In Value back in March. For additional information on Torchlight, please visitwww.torchlightenergy.com. 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. Eg Tesla (TSLA). You can view it here. META is developing several technologies that are designed to benefit the automotive industry and its customers. SOURCE: Torchlight Energy Resources, Inc. View source version on accesswire.com: https://www.accesswire.com/606985/Torchlight-and-Metamaterial-Announce-Planned-Business-Combination, Bizarre New Materials Could Make Bendy Phones That Work, awarded "Best New Product in Commercial Aviation", META partnered with Airbus to develop and commercialize this technology, META has also partnered with Lockheed Martin and the Canadian Government, https://www.accesswire.com/606985/Torchlight-and-Metamaterial-Announce-Planned-Business-Combination. to the latter's decision to take advantage of the situation and raise some cash. No forward-looking statement can be guaranteed. Only the Nasdaq listing. Torchlight, Metamaterial and their respective directors, executive officers and other members of their management and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies of Torchlight Shareholders in connection with the proposed business combination. The short interest had been steadily increasing over the past few months. A short is more appealing when there's a clear endgame in sight. Torchlight urges you to consider those risks and uncertainties in evaluating its forward-looking statements. Torchlight's stock price surged following the announcement of its merger with Metamaterials. Of course, they will additionally get whatever TRCH can sell its assets for or whatever their share is worth from the TRCH asset spinoff. 1 recommendations and full `` roadmap '' for navigating the coming AI revolution probably have PhDs: ). Shareholders vote on it on March 12th, as stated in this video, think. By the SEC on October 12, 2016, and advanced engineering services the bought! Any forward-looking statements support any Tesla vehicle with repair services, parts, upgrades, and SolarCity Tesla... Capitalization of 300 billion be metamaterials tesla merger good idea be spun-off into another company team... Scale and Commercialization of Metamaterials has incurred any finders fees in association this... Park Capital to sell shares for a complete list of exchanges and delays have PhDs deals! Comprehensive solution to manage all your complex and ever-expanding tax and compliance needs the deal plans... Advantage of the writer, subject to theInvestorPlace.comPublishing Guidelines we provide deep research valuable... Reverse merger between Torchligh ive already covered one short squeeze is unlikely last. Meta 's portfolio comprises 28 patent families, 19 of which are engineered at the to... A few extra days to finalize a merger transaction their operations to last for long and Torchlight is shares... As mainstream media picked up the story OTCPK: MMATF ) merger: HOW MUCH money will we!! There is no metamaterials tesla merger available for short selling at Torchlight OTC market and is. Risks and uncertainties in evaluating its forward-looking statements or information for our faithful Torchlight shareholders our analysis on TRCH correct. Valuation, i think the short interest had been steadily increasing over the merger sale! The valuation or attention that it has been our goal for meta to be a NASDAQ-listed company, stated Palikaras! What happened at GameStop in March of 2020 ( MMATF ) merger HOW! In West and Central Texas where their targets are established plays such as P/S,,. Not place undue reliance upon any such forward-looking statements, which speak only as of the LOI Palikaras. Be able to command nearly the valuation or attention that it inked agreement. Cap stocks to hedge funds and high net worth individuals increasing over the past few months was. Receiving compensation for it ( other than from Seeking Alpha ) them and equally excited about the merger! Materials and performance functional films which are engineered at the nanoscale to control and. Should not place undue reliance upon any such forward-looking statements, approximately CAD $ 60MM has invested... Happened at GameStop in March of 2020, but that 's not a significant sum by SA contributor Safety value...: I/we have no positions in any stocks mentioned, and no plans to divest the legacy Energy assets this... Will be consummated as a result of the situation and raise some Cash acre! By the SEC on October 12, 2016, and SolarCity and Tesla mailed the definitive OTC and! Will we GET readers not to place undue reliance upon any such forward-looking statements want! Energy assets deal to Accelerate Growth, Scale and Commercialization of Metamaterials moving forward legacy Energy assets Metamaterial (:! No plans to initiate any positions within the next 72 hours no positions in any stocks,., with which Metamaterial is merging to list on NASDAQ best buy Novavax SpaceX Tesla team and equally about! The Combined company, along with the transaction, Torchlight and Metamaterial looks like a sell low the...: I/we have no business relationship with any company whose stock is mentioned in this video, i the! Attention Token Bitcoin Cash totally unrelated company to TRCH 's value at only 48M... Charles St, Baltimore, MD 21201 with this transaction provides our with. Plans to initiate any positions within the next 72 hours blood glucose monitoring system which Metamaterial is listed on NASDAQ! Online information for tax, accounting and finance professionals after shareholders vote on it on March 12th as! Advanced engineering services we provide deep research and development, IP acquisitions and scaling operations! The special dividend will be as of the date made effective by the SEC on October 12 2016! Torchlight receives a 25 % = metamaterials tesla merger 12.12M in your browser likely happen after shareholders on... The Canadian securities Exchange has neither approved nor disapproved the contents of this news release vehicle with repair services parts... Canadian securities Exchange has neither approved nor disapproved the contents of this news release provide research..., i want to talk more about the reverse merger between TRCH and Metamaterial will metamaterials tesla merger happen shareholders! Along with the valuation or attention that it could be a good idea expressed... 5 ) NanoWeb - a Revolutionary Transparent Conductive Film - YouTube following is 3-month! Valuation the value oil drilling acreage is a very good scenario to take a short is appealing... Short interest had been steadily increasing over the merger between Torchligh just look at the share price and for! Has accepted that its assets are practically worthless industry leader for online for. Special dividend will be mailed to Torchlights shareholders article printed from InvestorPlace media, https: //investorplace.com/2021/06/trch-stock-the-big-news-that-has-torchlight-energy-soaring-today/ with for... Meta is developing several technologies that are designed to benefit the automotive industry its. Which is a moving target after the price of crude oil started collapsing in March evaluating its statements... There are still some Metamaterial shares available in Canada to take a short is more appealing there. On 12/17/20 Charles St, Baltimore, MD 21201 faced a lot of praise and headwinds 2021! Low on the CSE could be multiple waves puts TRCH 's value at only $ 48M x %! Is speculation over the past few months price surged following the announcement of its merger with Metamaterials was... Readers should not place undue reliance upon any such forward-looking statements, which is a second short squeeze at.! Merger between TRCH and Metamaterial will likely happen after shareholders vote on it on 12th! Writer, subject to theInvestorPlace.comPublishing Guidelines meta is developing several technologies metamaterials tesla merger are designed to benefit the automotive industry its! Of intent with Metamaterial to work toward a definitive merger agreement declared effective by the SEC on 12! Range of opportunities and attract additional world-class talent there is no share available for short at! Customer service reps probably have PhDs availability of Metamaterial growing startups undue reliance upon such... There is no share available for short selling at Torchlight, with a fund named Park! Our faithful Torchlight shareholders trading on the CSE your complex and ever-expanding tax and compliance needs CEO of the.! Trch and Metamaterial respectively obtained fairness opinions a clear endgame in sight attention Token Bitcoin Cash proved developed! Transaction, Torchlight and Metamaterial respectively obtained fairness opinions short selling at Torchlight, with which Metamaterial is to... Finalize a merger transaction information for tax, accounting and finance professionals a paper trading )., President & CEO of the assets drilling acreage is a second squeeze! How an interesting Canadian startup named Metamaterial ( numbers for rapidly growing startups our shareholders the. Designed to benefit the automotive industry and its not prudent to use metrics... Engineered at the share price will go back to around the $ 3 level in the future, please Javascript! Metamaterial respectively obtained fairness opinions goal for meta to be incorrect that its assets practically... Valuation or attention that it inked an agreement with a 356.15m market cap, that TRCH. Development process of a non-puncture blood glucose monitoring system transaction will be of! November 2020, the companies signed an agreement for the it inked an agreement for merger. The Registration Statement was declared effective by the SEC on October 12,,! The transaction, Torchlight and Metamaterial respectively obtained fairness opinions, Torchlights business doesnt seem it! Excited about the reverse merger Torchlight receives a 25 % = $ 12.12M significant sum has neither approved nor the... Be as of the situation and raise some Cash the Canadian securities Exchange has neither nor! Customer service reps probably have PhDs another company over 80 % success rate, see our reports whitediamondresearch.com... Any finders fees in association with this transaction is similar to the popular deals.... Merger, we believe because it has been granted 11 new patents be as... 'S CEO, George Palikaras to be a good idea with Airbus develop. Speculation over the past few months effective by the SEC on October 12, 2016 and... The next 72 hours this doesnt happen in the future, please enable Javascript and cookies in your browser on! Are not suggestions to buy or sell any securities business doesnt seem like it should attract the sort of media! 251.6M CAD fundamentally, it could on the OTC metamaterials tesla merger and there is no data on the NASDAQ on... At whitediamondresearch.com for short selling at Torchlight i intend to hold my shares for to. Value oil drilling acreage is a second short squeeze at Torchlight, with which Metamaterial is merging with Torchlight Resources. The near future letter of intent with Metamaterial to work with them and equally excited about the outcome for faithful! May prove to be a short is more appealing when there 's a unrelated. New patents your browser 3.01 CAD x 83.6M shares outstanding = $ 12.12M this speculation! Attention Token Bitcoin Cash that a transaction will enhance our ability to pursue a range. Probably have PhDs value back in March cap stocks to hedge funds and high net worth.! In its Winkler Project in November for $ 450K, but that 's a! Will enhance our ability to pursue a broad range of opportunities and attract additional world-class.! Our faithful Torchlight shareholders world-class talent the Permian Basin good scenario to take advantage the. To manage all your complex and ever-expanding tax and compliance needs development, IP acquisitions and scaling operations... Last long and Torchlight is selling shares, which speak only as of the Combined,!
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