On that date, the company . They can provide a heads-up display across the windshield with almost immediate defogging and de-icing. Perform your own due diligence and consult a financial professional before trading. The company isnt popular on WallStreetBets, but you can find, Also, Torchlight has been one of the most discussed stocks on. These include a transparent window film that transforms outdoor 5G coverage; an invisible antenna that can enhance indoor 5G and digital TV reception; and a nano-heater that can provide deicing and defogging for autonomous vehicle sensors. Torchlight Energy Resources, Inc. (TRCH), based inPlano, Texas, is a high growth oil and gas Exploration and Production (E&P) company with a primary objective of acquisition and development of domestic oil fields. I view it as likely since there are no shares available for short-selling as of the time of writing, according to data from. 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. Like the other metamaterials . The companys main focus has historically been on the acquisition and development of highly profitable domestic oil fields, with interests in Texas, including the Permian Basin and the Eagle Ford Shale. Of . This transaction is similar to the popular deals involving. for their shell and get to keep the energy business. 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. First, shareholders valued the large and promising portfolio of technologies and patents. 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. We specialize in the technology and healthcare sectors. Theres even room for more lines. It's a totally unrelated company to TRCH's oil and gas exploration business. There can be no assurances that a transaction will be consummated as a result of the LOI. 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. 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. The reverse split became effective after market close on June 25. Today, I want to talk about how an interesting Canadian startup named Metamaterial (. Effectively, TRCH's business will be extracted from the Nasdaq listing and put aside into an OTC listing where it will go to "die". I think the main risk for the bear case is a second short squeeze, like what happened at GameStop in March. 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. 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. As this is not investment advice anyways, here are some possible valuations. NASDAQ is the world's 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." Of course, they will additionally get whatever TRCH can sell its assets for or whatever their share is worth from the TRCH asset spinoff. 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. A pending merger bought a couple of extra days, enough to ensure a special dividend is paid in time. Using that market cap, that puts TRCH's value at only $48M x 25% = $12.12M. Looking forward to March 12th. We provide deep research and valuable information on small cap stocks to hedge funds and high net worth individuals. As a result,. "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. They are composite structures, consisting of conventional materials such as metals and plastics, that are engineered. Torchlight has assets focused in West and Central Texas where their targets are established plays such as the Permian Basin. Torchlight and Metamaterial will be combined such that at closing, the former equity holders of Torchlight would own approximately 25% of the combined company with the former equity holders of Metamaterial owning the remaining approximately 75% of the combined company. They acquired this land at $10,471 per acre. Torchlight Energy is engaging in a reverse merger, we believe because it has accepted that its assets are practically worthless. For additional information on META, please visitwww.metamaterial.com, This release includes forward-looking information within the meaning of Canadian securities laws regarding Metamaterial 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 and the benefits thereof, the disposition of Torchlights oil and gas assets, the approval of the Transaction by the shareholders of Metamaterial, the business strategies, product development and operational activities of Metamaterial and Torchlight. Torchlight will loan to Metamaterial an additionalUS$500,000, in exchange for an unsecured promissory note in substantially the same form as the 8% unsecured convertible promissory note that evidences Torchlights loan to Metamaterial ofUS$500,000onSeptember 20, 2020. However, there are still some Metamaterial shares available in Canada. With this, Metamaterials share price is likely to tumble to around $3 per share. 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. There can be no assurance that the parties will reach agreement on the terms of definitive agreements or that the Proposed Transaction will be completed as currently contemplated or at all. How can investors take part in this move? Once the two companies combine, it will just be Metamaterial. 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. Its used to describe any material that is artificially engineered to possess a property that isnt found in naturally occurring materials. 2023 InvestorPlace Media, LLC. 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. The proxy statement/prospectus will be mailed to Torchlights Shareholders. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies to Torchlights Shareholders in connection with the proposed business combination will be set forth in the proxy statement/prospectus for the proposed business combination when available. On the date of publication, Robert Lakin did not have (either directly or indirectly) any positions in the securities mentioned in this article. If it's a value stock - great. Before GameStop, the most famous case was in 2008 when German auto giant Volkswagen (. 2023 Meta Materials Inc. All rights reserved. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines. In its own words, the firm specializes in the design and manufacturing of complex films and other. Often but not always, forward-looking information can be identified by the use of words such as "expect", "intends", "anticipated", "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would" or "will" be taken, occur or be achieved. Whats behind the move? 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. In my view, when these short squeezes are caused intentionally, there could be multiple waves. Metamaterial operates under the META brand and is a smart materials and photonics company. Our Standards: The Thomson Reuters Trust Principles. I could not find anyone willing to go on record. This will also trigger a special dividend to shareholders of Torchlight. Copyright All rights reserved. Article printed from InvestorPlace Media, https://investorplace.com/2021/06/trch-stock-the-big-news-that-has-torchlight-energy-soaring-today/. Many emerging technologies have historically been adopted by the automotive industry to improve performance, safety and comfort. I think the short squeeze is likely to end soon thanks. 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. I intend to hold my shares for a minimum of two years. 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. Automotive Applications These applications are the root of current Tesla rumors, but these technologies can and will be applied across the next generation of cars. About Metamaterial Inc. META is changing the way we use, interact with, and benefit from light and other forms of energy. Do you remember the GameStop (NYSE:GME) short squeeze? 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. META's CEO, George Palikaras to be appointed CEO of the Combined Company, along with the appointment of a new CFO. For additional information on Torchlight, please visitwww.torchlightenergy.com. They acquired this land at $10,471 per acre, this land was 74% proved and developed . Regarding valuation, I think its nearly impossible to come up with numbers for rapidly growing startups. I have no business relationship with any company whose stock is mentioned in this article. We have an over 80% success rate, see our reports at whitediamondresearch.com. META is changing the way we use, interact with, and benefit from light and other forms of energy. 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. META is currently developing new materials with diverse applications in the automotive, aerospace, consumer electronics and medical industries. Recall that the company plans to merge with Metamaterial (OTCMKTS: MMATF ), which makes advanced materials. However, I think things have gotten out of hand with the valuation of Metamaterial and it has little to do with the company itself. We present a new class of architected materials called field responsive mechanical metamaterials (FRMMs) that exhibit dynamic . Using that market cap, that puts TRCH's value at only $48M x 25% = $12.12M. META is developing several technologies that are designed to benefit the automotive industry and its customers. This discovery coincided with economic collapse of oil due to Covid crisis. On the date of publication, Robert Lakin did not have (either directly or indirectly) any positions in the securities mentioned in this article. "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.". These documents, once available, can also be obtained, without charge, at the SECs web site (http://www.sec.gov). After 10 years of scientific discovery and application development, Meta Materials is now the first Nasdaq-listed metamaterials company, joining the worlds premier exchange for technology companies, noted George Palikaras, the companys founding president and CEO. Torchlight also said on Friday it paid a special dividend to its stockholders of record on June 24 and that it implemented a previously approved 1 for 2 reverse stock split. The merger was analyzed by SA contributor Safety In Value back in March. Oil averaged $40.75 that month, Conoco Phillips acquires Concho resources in 9.7 BN all stock transaction, adding 550,000 acres in the Permian basin and 200,000 b/d. However, what the MF article doesn't seem to realize, is that the conversion of debt to equity is part of the merger agreement. 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. Also, Torchlight has been one of the LOI to the popular deals involving writer, subject the! Deep research and valuable information on small cap stocks to hedge funds and high worth... Around $ 3 per share days, enough to ensure a special dividend is paid in time can,. Deals involving, there could be multiple waves to TRCH 's oil and exploration... 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