Using that market cap, that puts TRCH's value at only $48M x 25% = $12.12M. I have been investing in stocks since 2007.I have no preference for sectors or countries - I'm as comfortable owning a part of a cement miner in Peru as holding shares in a wheat farming firm in Bulgaria. The following is a summary of the key terms of the pending Transaction as contemplated by the Arrangement Agreement. which is measured in Tesla (T). These documents, once available, can also be obtained, without charge, at the SECs web site (http://www.sec.gov). META designs and manufactures advanced materials and performance functional films which are engineered at the nanoscale to control light and other forms of energy. Many emerging technologies have historically been adopted by the automotive industry to improve performance, safety and comfort. TRCH has risen as much as 400% since the beginning of the year, and has doubled over the last week. Do you remember the GameStop (NYSE:GME) short squeeze? like what happened at GameStop in March. There is no share available for short selling at Torchlight. The newly merged company begins trading today as the Nasdaq's first 'metamaterials' stock. I view Metamaterial as an interesting startup in a rapidly growing sector, whose valuation has soared due to a short squeeze at Torchlight. Perform your own due diligence and consult a financial professional before trading. This discovery coincided with economic collapse of oil due to Covid crisis. I think the main risk for the bear case is a second short squeeze, like what happened at GameStop in March. I view Metamaterial as an interesting startup in a rapidly growing sector, whose valuation has soared due to a short squeeze at, Torchlight. Ultimately, the deal is worth over $70 million.. ", "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. 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. The merger was analyzed by SA contributor Safety In Value back in March. Although the management of META believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. Days later, on June 14, Torchlight declared a special dividend of Series A Preferred Stock, to be issued on a one-for-0ne basis to common stock holders on June 24. The following statements in the announcement confirm that TRCH is only worth 25% of Metamaterial's current market cap: 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 wrote this article myself, and it expresses my own opinions. Only the Nasdaq listing. Metamaterial closed at only $0.58 on 12/14/20. At this point I think their customer service reps probably have PhDs. META Executive Team has an extremely deep educational background in the hard sciences with a lot of experience creating innovative products. They acquired this land at $10,471 per acre. - YouTube 0:00 / 12:23 #Metamaterials #TRCH Metamaterials (MMATF) and Tesla (TSLA) Rumors | Why it COULD MAKE. It did sell its interest in its Winkler Project in November for $450K, but that's not a significant sum. 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. See here for a complete list of exchanges and delays. We look forward to driving significant opportunity for the combined company and all shareholders in our mission to make every product that we produce smarter and more sustainable by harnessing the power of light and advanced material innovations.. Torchlight. We provide deep research and valuable information on small cap stocks to hedge funds and high net worth individuals. Torchlight to acquire META through the issuance of common stock, such that at closing, the former equity holders of Torchlight would own 25% of the combined company (the "Combined Company") with the former equity holders of META owning the remaining 75% and META becoming a wholly-owned subsidiary of Torchlight. Metamaterial designs, develops, and manufactures advanced materials specializing in nanocomposites, nanofabrication, and machine learning to control light and electromagnetic waves. However, what the MF article doesn't seem to realize, is that the conversion of debt to equity is part of the merger agreement. 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. Prior to closing, all debt of Torchlight is to be converted into common stock or repaid in full, excepting senior secured debt that may alternatively be modified such that the debtholders sole recourse in respect thereof will be against Torchlights pre-closing oil and gas assets. "When the business combination with Torchlight closes, obtaining a national exchange listing in the United States is anticipated to provide META with significant value and increased access to global capital markets. Here is a DD write up and estimate by user u/Mr_Delmont. 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. You can view it here. TRCH will sell its assets or spin them off before the business combination happens; the combined company will get none of TRCH's assets. Looking forward to March 12th. Eg Tesla (TSLA). That gave it a market cap of only $48M. However, there are still some Metamaterial shares available in Canada. The Merger: This merger is in and of itself proof of the economic transition taking us from destructive technology to disruptive technology. 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. - 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. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Recall that the company plans to merge with Metamaterial (OTCMKTS: MMATF ), which makes advanced materials. Since 2011, approximately CAD $60MM has been invested in META, yielding a sizable IP portfolio. There are no Torchlight shares available for borrowing, but the same cant be said for Metamaterial. Accordingly, readers should not place undue reliance on any forward-looking statements or information. 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. No forward-looking statement can be guaranteed. The recent loan from Torchlight does not figure into the numbers below. Two Wall Street Legends will reveal their #1 recommendations and full "roadmap" for navigating the coming AI revolution. The oil and gas exploration and production company based out of Plano, Texas, has become something of a regular on meme chats and threads, likeReddits r/WallStreetBets and other subreddits, in recent weeks. Through this reverse merger Torchlight receives a 25% stake in 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. It appears to only want the Nasdaq listing. Derek GradwellManaging PartnerIntegrous CommunicationsPhone: 512-270-6990dgradwell@integcom.usir@torchlightenergy.com, Graham FarrellHarbor Access LLC(416) 842 9003Graham.Farrell@HarborAccessllc.com, Mark KomonoskiDirector Capital Markets and IRMetamaterial Inc.Phone: 1-877-255-8483mark@metamaterial.com. 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. As well as the conversion of the company's debt to equity. Its a win-win situation for both. META designs and manufactures advanced materials and performance functional films which are engineered at the nanoscale to control light and electromagnetic waves. The short interest had been steadily increasing over the past few months. No forward-looking statement can be guaranteed. Information concerning the interests of Torchlights and Metamaterials participants in the solicitation, which may, in some cases, be different than those of Torchlights and Metamaterials equity holders generally, will be set forth in the proxy statement/prospectus relating to the proposed business combination when it becomes available. Torchlight investors will get non-traded preferred shares that are meant to represent the value of the latters oil and gas assets. There can be no assurances that the Transaction will be consummated. Torchlight said on Friday that it closed the deal and the new company, Meta Materials Inc, would begin trading under the ticker symbol "MMAT" on Monday. Meta Materials' (META) stock faced a lot of praise and headwinds in 2021. I think the short squeeze is likely to end soon thanks. On April 30, the company. It's a. On April 30, the company disclosed that it inked an agreement with a fund named Lincoln Park Capital to sell shares for up to $20.8 million. 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 Proposed Transaction represents a strategic shift for Torchlight. The reverse split became effective after market close on June 25. "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.". A video interview with both CEO's and Torchlight's Chairman will be available this week and separately announced with links provided. 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. Whats behind the move? Copyright View Details 1425 W. 12th Place Suite 101 Tempe, AZ 85281 | Office: (623) 388-3634 sales@mergermetals.com To learn more visit www.metamaterial.com. Torchlight's stock price surged following the announcement of its merger with Metamaterials. 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. META's portfolio comprises 28 patent families, 19 of which are granted. Readers are cautioned to not place undue reliance upon any such forward-looking statements, which speak only as of the date made. The webcast link will be made available and announced shortly. The following is a summary of the key terms of the Proposed Transaction as contemplated by the LOI. We believe this Transaction provides our shareholders with the best opportunity moving forward. Disclosure: I am/we are short TRCH. Founded META in 2011, prior to that he founded MediWise, a wireless medical sensor company, he was also an antenna design engineer with AceAxis. 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. 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. 60 Highfield Park Dr, Dartmouth, NS B3A 4R9 Canada, Tel: 1-902-482-5729 Metamaterials are a subset of functional materials, according to the company. META is currently trading at $2.66 I anticipate a near doubling with a successful merger vote. ?In this video, I want to talk more about the reverse merger between Torchligh. In 2019 META acquired North, Inc and their roll-to-roll holographic manufacturing tech. I am not receiving compensation for it (other than from Seeking Alpha). Neither META or Torchlight has incurred any finders fees in association with this transaction. If the dividend or share buyback yield is high - even better. 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. With this, Metamaterials share price is likely to tumble to around $3 per share. If the merger is approved, a shareholder with 100 shares of Torchlight would receive 100 shares of the preferred stock in the holding company and 100 shares of the new company. 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 risks associated with Torchlights ability to obtain additional capital in the future to fund planned expansion, the demand for oil and natural gas which demand could be materially affected by the economic impacts of COVID-19 and possible increases in supply fromRussiaand OPEC, the proposed business combination transaction with Metamaterial, general economic factors, competition in the industry and other factors that could cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Torchlight Energy and Metamaterial (MMATF) announced the signing of a definite agreement on 12/14/20 for a business combination. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. META is currently developing new materials with diverse applications in the automotive, aerospace, consumer electronics and medical industries. Investors are pushing the value up another 40% ahead of Monday trading as meme stock message boards continue to light up on TRCH stock. I wrote this article myself, and it expresses my own opinions. Using that market cap, that puts TRCH's value at only $48M x 25% = $12.12M. 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 current price of West Texas Intermediate (WTI)is currently $61.50 barrel. See the 3rd party verified return on each of our bearish reports over the last 24 months at: https://breakoutpoint.com/as-summary/white-diamond-gvmtg/To inquire about becoming a premium subscriber, send a PM here or email us at research@whitediamondresearch.com.Follow us on twitter @whiteresearch. ( TSLA ) Rumors | Why it COULD MAKE without charge, at the nanoscale to control and... Information on small cap stocks to hedge funds and high net worth individuals cant be said for Metamaterial for 450K... And manufactures advanced materials and performance functional films which are engineered at the SECs web site ( http //www.sec.gov... Develops, and manufactures advanced materials and performance functional films which are.... 'S debt to equity SECs web site ( http: //www.sec.gov ) performance functional films are! Alpha ) the Nasdaq 's first 'metamaterials ' stock shift for Torchlight contemplated by LOI! With Metamaterials Torchlight receives a 25 % stake in meta the date.! 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