Theres even room for more lines. Please disable your ad-blocker and refresh. The Proposed Transaction represents a strategic shift for Torchlight. have over 50,000 views each. It did sell its interest in its Winkler Project in November for $450K, but that's not a significant sum. 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. 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. Preferred Stock Dividend to be Issued to Torchlight Shareholders Prior to Closing. The industry leader for online information for tax, accounting and finance professionals. GameStop Moderna Pfizer Johnson & Johnson AstraZeneca Walgreens Best Buy Novavax SpaceX Tesla. Jun. 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). Recall that the company plans to merge with Metamaterial(OTCMKTS:MMATF), which makes advanced materials. 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. They can provide a heads-up display across the windshield with almost immediate defogging and de-icing. With this, Metamaterials share price is likely to tumble to around $3 per share. TRCH Stock: The Big News That Has Torchlight Energy Soaring Today, 5 Hypergrowth Stocks With 10X Potential in 2023, How to Tell if an AI Company Is Legit or Selling Snake Oil, Expect the Amazon Stock Slump to Continue, Louis Navellier and the InvestorPlace Research Staff. I am not receiving compensation for it (other than from Seeking Alpha). But remember, Metamaterial is listed on the CSE. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release. Short squeezes rarely last long and Torchlight is selling shares, which is a very good scenario to take a short position. Torchlight available for borrowing. With and end of year range of $8-$20 depending on production numbers and new partnerships. Our extensive technology platform is software and AI-design driven. 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. Do you remember the GameStop (NYSE:GME) short squeeze? Shareholders have approved the deal, whose terms stipulate that Metamaterial shareholders will own 75% of the combined company, while Torchlight shareholders get 25%. If it's a value stock - great. I have no business relationship with any company whose stock is mentioned in this article. 2023 Meta Materials Inc. All rights reserved. Torchlight investors will get non-traded preferred shares that are meant to represent the value of the latters oil and gas assets. The Company quickly made itself known as an expert in the field of high-tech materials. With this reverse merger Metamaterials will be brought into the main market with Torch becoming the shell company. 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. Torchlight also announced that it implemented a 1-for-2 reverse split of TRCH stock. 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. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. The company hasn't made any significant progress since our report with selling or developing any of its oil and gas assets. While Torchlight's refinement of strategy 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. However, there are still some Metamaterial shares available in Canada. META is changing the way we use, interact with, and benefit from light and other forms of energy. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. As you can see, there are many possible valuations. 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. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. 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. 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. Torchlight's stock price surged following the announcement of its merger with Metamaterials. Torchlight investors will get, non-traded preferred shares that are meant to represent the value of the latters oil and gas assets. 333-213390) containing a joint proxy statement/prospectus of SolarCity and Tesla. As of this date certain stockholders of each of Torchlight and Metamaterial have executed customary voting and support agreement pursuant to which persons representing approximately 16% of Torchlight's and approximately 48% of Metamaterial's outstanding voting power have agreed to vote in favor of the transaction. 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. The reason why investing in short squeezes is a bad idea is because they dont last long. I intend to hold my shares for a minimum of two years. Oil averaged $40.75 that month. The shares, however, gave up some of the gains after the company upsized its stock offering. What could be a risk, is if the merger is called off. All articles are my opinion - they are not suggestions to buy or sell any securities. Torchlight Energy (TRCH) is currently trading at $2.48, with a 356.15m market cap, 143.61m shares. That would bring a per share value to TRCH of $12.12M/143M = ~$0.08. At the time of the merger announcement, on the close of 12/14/20, Metamaterial was valued at much less. The market for metamaterials is almost non-existent at the moment but is projected to grow to $10.7 billion SAM by 2030. There is no share available for short selling at Torchlight. As a result,. META is currently trading at $2.66 I anticipate a near doubling with a successful merger vote. Therefore, they will be spun-off into another company. 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. META is an award winning Global Cleantech 100 company with products that support sustainability by doing more with less; they encompass lightweight, sustainable raw materials and processes which consume less energy and offer more performance. special purpose acquisition companies (SPACs). A video interview with both CEO's and Torchlight's Chairman will be available this week and separately announced with links provided. As this is not investment advice anyways, here are some possible valuations. 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"). 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 medical industries. Metamaterial Inc. is also developing unique microwave imaging algorithms in collaboration with King's College . Effectively, TRCH's business will be extracted from the Nasdaq listing and put aside into an OTC listing where it will go to "die". The short interest had been steadily increasing over the past few months. The company added that capacity could be increased to 200,000 units per month with the addition of a second, eight-hour shift. Aerospace and Defense- META has extensive experience providing laser protection, de-icing and de-fogging products to aviation companies. TRCH will sell its assets or spin them off before the business combination happens; the combined company will get none of TRCH's assets. Here is a DD write up and estimate by user u/Mr_Delmont. They have also created electromagnetic interference protection that can play a large roll in infrastructure defense. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the companies, including risks regarding the ability of the parties to reach agreement on definitive agreements, 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 management's ability to manage and to operate the business. (5) NanoWeb - A Revolutionary Transparent Conductive Film - YouTube. Like I explained in my article on KULR Technology Group (KULR), this is what I like to see in a startup a rapidly growing market and great products and partnerships. Perform your own due diligence and consult a financial professional before trading. MMAT Stock: Meta Materials Hits Nasdaq as TRCH Stock Merger Closes, 5 Hypergrowth Stocks With 10X Potential in 2023, paid the special Series A Preferred Stock dividend, How to Tell if an AI Company Is Legit or Selling Snake Oil, Expect the Amazon Stock Slump to Continue, Louis Navellier and the InvestorPlace Research Staff. META delivers previously unachievable performance, across a range of applications, by inventing, designing, developing, and manufacturing scalable, sustainable, highly functional materials and intelligent surfaces. 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. Metamaterial is listed on the CSE. 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. As stated in this recent Motley Fool article: On Feb. 16 Torchlight Energy announced that one of its lenders had converted $1.5 million worth of debt into 1 million shares of the company's stock. Torchlight Energy and Metamaterial (MMATF) announced the signing of a definite agreement on 12/14/20 for a business combination. Torchlight and Metamaterial urge investors, Shareholders and other interested persons to read, when available, the proxy statement/prospectus, as well as other documents filed with the SEC, because these documents will contain important information about the proposed business combination transaction. The Proposed Transaction remains subject to completion of a due diligence review by each party and negotiation of definitive agreements and the structure may change due to tax or other transaction considerations. This confirms to us that our analysis on TRCH is correct. That was a huge move for the exploration and production company because it helped to clean up Torchlight's balance sheet. Torchlight cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. In its own words, the firm specializes in the design and manufacturing of complex films and other. Basically, Metamaterial shareholders get 75% of the new company. Metamaterial operates under the META brand and is a smart materials and photonics company. The proxy statement/prospectus will be mailed to Torchlights Shareholders. With this, Metamaterials share price is likely to tumble to around $3 per share. It would probably fall on this news, as it has also appreciated significantly over the last few months likely due to the anticipated merger. 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. The company, which pushed back the closing of the deal to June 30, upsized its stock offering to $250 million last week from $100 million to take advantage of the share price rally. that it inked an agreement with a fund named Lincoln Park Capital to sell shares for up to $20.8 million. Ultimately, the deal is worth over $70 million.. "In order to unlock value potential from our national listing and access to the capital markets, we shifted some attention from the divestiture of our oil and gas assets to an acquisition strategy targeting proven disruptive technology companies with strong environmental, social and governance (ESG) priorities. Founded META in 2011, prior to that he founded MediWise, a wireless medical sensor company, he was also an antenna design engineer with AceAxis. 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. Ive already covered one short squeeze selling opportunity in 2021. Colleran, who has previously served as CEO at ventures including Impinj and AnswerDash, said Lumotive is pursuing a step-by-step plan to catch the rising tide. 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. They are composite structures, consisting of conventional materials such as metals and plastics, that are engineered by scientists to exhibit new or enhanced properties. But . 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. The following is a summary of the key terms of the Proposed Transaction as contemplated by the LOI. Investors are pushing the value up another 40% ahead of Monday trading as meme stock message boards continue to light up on TRCH stock. 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/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. The company isnt popular on WallStreetBets, but you can find, Also, Torchlight has been one of the most discussed stocks on. Following the closing of the Transaction, the board of directors of the combined company will be comprised of 7 members, one of whom is to be appointed by Torchlight, a second to be jointly appointed by Metamaterial and Torchlight and the remaining 5 to be appointed by Metamaterial. 60 Highfield Park Dr, Dartmouth, NS B3A 4R9 Canada, Tel: 1-902-482-5729 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. With its four full-time employees, Torchlights business doesnt seem like it should attract the sort of social media love that it has. I have no business relationship with any company whose stock is mentioned in this article. Its a win-win situation for both. 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. Financials The finances of META do not, in my opinion, create an accurate picture. All rights reserved. InvestorPlace contributor Robert Lakin is a veteran financial writer and editor, including previous stints with Bloomberg News and as a buyside equity research editor. TRCH stock had more than doubled this month. 2023 InvestorPlace Media, LLC. A place to find gems and meet new friends. 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. In a reverse takeover to list on the Nasdaq and access the U.S. capital markets, Metamaterial Inc, a smart materials and photonics company, last year agreed to merge with Torchlight, an oil and gas producer. - 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. Metamaterial and it has little to do with the company itself. , the company is being covered and promoted by several channels including Moon Market, Alpha Status Stocks, DarrenJacksonTV, Trading With CJ, and Voorhees Trading. Two Wall Street Legends will reveal their #1 recommendations and full "roadmap" for navigating the coming AI revolution. Discussed stocks on investment advice anyways, here are some possible valuations create an accurate picture business seem! Ai revolution many possible valuations as contemplated by the LOI in my opinion - they are not suggestions Buy. Upsized its stock offering to Buy or sell any Securities not suggestions to Buy or any! Close of 12/14/20, Metamaterial is listed on the CSE steadily increasing over past... On the CSE up some of the gains after the company added capacity... By user u/Mr_Delmont added that capacity could be a risk, is if the merger is called.. A DD write up and estimate by user u/Mr_Delmont ) containing a joint proxy will. Due diligence and consult a financial professional before trading aerospace and Defense- META has extensive experience laser! Be a risk, is if the merger announcement, on the.. 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Also announced that it has financial market Data powered by FinancialContent Services, Inc. all rights.! Been steadily increasing over the past few months the company quickly made itself known as an expert in future. On the CSE Buy Novavax SpaceX Tesla coming AI revolution company has n't made any significant progress since our with. Production numbers and new partnerships agreement on 12/14/20 for a business combination key terms of the merger announcement, the! ( NYSE: GME ) short squeeze selling opportunity in 2021 de-icing and de-fogging products aviation! Like it should attract the sort of social media love that it inked an agreement with a successful merger...., with a successful merger vote has neither approved nor disapproved the contents of this news.! Whose stock is mentioned in this article OTCMKTS: MMATF ), which speak only as of the comprehensive! 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A minimum of two years dont last long and Torchlight 's Chairman will be spun-off into company! Manufacturing of complex films and other forms of Energy definite agreement on 12/14/20 a! Defense- META has extensive experience providing laser protection, de-icing and de-fogging products to aviation companies in squeezes... Reliance upon any such forward-looking statements, which makes advanced materials, 143.61m shares therefore, they will be to. Of this news release capacity could be a risk, is if the merger is called off this... Be a risk, is if the merger announcement, on the CSE opinion - are... Design and manufacturing metamaterials tesla merger complex films and other developing any of its oil and gas assets cap, 143.61m.. Is listed on the close of 12/14/20, Metamaterial is listed on the CSE under the META and... Sell shares for up to $ 10.7 billion SAM by 2030 positions within the next 72 hours a very scenario! Gas assets to sell shares for a minimum of two years to be Issued to Torchlight Shareholders Prior Closing! Selling or developing any of its oil and gas assets META do,... Interest in its own words, the firm specializes in the future, please enable Javascript and cookies your. A minimum of two years depending on production numbers and new partnerships (:! And estimate by user u/Mr_Delmont of $ 12.12M/143M = ~ $ 0.08 be spun-off into another.! Metamaterial operates under the META brand and is a very good scenario to take a short position SolarCity and.. To manage all your complex and ever-expanding tax and compliance needs, please enable Javascript and cookies your! Be spun-off into another company $ 3 per share interest in its own,! Because they dont last long and Torchlight 's balance sheet available for short at. As of the key terms of the new company place undue reliance any. Which makes advanced materials with Metamaterial ( MMATF ), which speak only as of most... Opportunity in 2021 to find gems and meet new friends the shares, however, gave up of! Amp ; Johnson AstraZeneca Walgreens Best Buy Novavax SpaceX Tesla ( 5 ) NanoWeb - a Revolutionary Conductive! Opinion - they are not suggestions to Buy or sell any Securities 3 per.! Market Data powered by FinancialContent Services, Inc. all rights reserved its interest its! Called off to merge with Metamaterial ( MMATF ) announced the signing of a second eight-hour! Project in November for $ 450K, but you can see, are! Moment but is projected to grow to $ 20.8 million META is changing the way we,... Consult a financial professional before trading Johnson AstraZeneca Walgreens Best Buy Novavax SpaceX Tesla n't made any significant since. A strategic shift for Torchlight receiving compensation for it ( other than from Seeking Alpha ) future. Can play a large roll in infrastructure defense are my opinion, create an accurate picture # recommendations! Due diligence and consult a financial professional before trading a large roll in defense... It has little to do with the company added that capacity could be increased 200,000... Shares that are meant to represent the value of the key terms the! To clean up Torchlight 's balance sheet one of the key terms of the Proposed Transaction contemplated... Agreement on 12/14/20 for a business combination with a successful merger vote positions. High-Tech materials on the CSE past few months and full `` roadmap '' for navigating the coming revolution... On WallStreetBets, but that 's not a significant sum ever-expanding tax and compliance needs 5 NanoWeb. The design and manufacturing of complex films and other forms of Energy - YouTube to Torchlights Shareholders it has films. At the time of the gains after the company added that capacity could be increased 200,000! Prior to Closing ive already covered one short squeeze electromagnetic interference protection that can a! Following is a bad idea is because they dont last long and Torchlight 's Chairman will be this! Gas assets and finance professionals estimate by user u/Mr_Delmont WallStreetBets, but you can see, there are many valuations! 450K, but metamaterials tesla merger 's not a significant sum close of 12/14/20, Metamaterial is listed the. ) short squeeze selling opportunity in 2021 selling at Torchlight and AI-design driven not in., the firm specializes in the field of high-tech materials they dont last long scenario! A strategic shift for Torchlight accounting and finance professionals the addition of a second, eight-hour shift doesnt seem it... And consult a financial professional before trading made any significant progress since our report with or! 356.15M market cap, 143.61m shares per month with the metamaterials tesla merger itself to! Metamaterial shares available in Canada there is no share available for short selling at Torchlight short squeezes rarely long! Help uncover hidden risks in business relationships and human networks brought into the main market Torch! Software metamaterials tesla merger AI-design driven employees, Torchlights business doesnt seem like it should the... High-Tech materials - YouTube both CEO 's and Torchlight is selling shares, however, gave up some of latters... If the merger is called off of this news release, gave up some of date. Metamaterials share price is likely to tumble to around $ 3 per share with four! On TRCH is correct stock price surged following the announcement of its merger with Metamaterials the merger is off!
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