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). for their shell and get to keep the energy business. These documents, once available, can also be obtained, without charge, at the SECs web site (http://www.sec.gov). I think the short squeeze is likely to end soon thanks to the latter's decision to take advantage of the situation and raise some cash. The difficulty for TRCH investor is in determining the sale value of the oil and gas assets of Torchlight. The META Note is for a 24-month term and bears interest at 8%, with principal and interest due in a lump sum at maturity. The Proposed Transaction represents a strategic shift for Torchlight. META is changing the way we use, interact with, and benefit from light and other forms of energy. Torchlight's stock price surged following the announcement of its merger with Metamaterials. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Automotive HUD See Solution De-icing / De-fogging See Solution Transparent Antennas See Solution GameStop Moderna Pfizer Johnson & Johnson AstraZeneca Walgreens Best Buy Novavax SpaceX Tesla. Our Standards: The Thomson Reuters Trust Principles. The same is happening at the moment with Torchlight. Metamaterial designs, develops, and manufactures. There are no shares of Torchlight available for borrowing. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. 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"). NASDAQ is the worlds premier technology exchange, providing us with the best platform to expand awareness of Metamaterial on the global stage and fully realize the value of our portfolio of innovative, sustainable products. commented Ram Ramkumar, Metamaterials Chairman. META is currently developing new materials with diverse applications in the automotive, aerospace, consumer electronics and medical industries. Brooklyn ImmunoTherapeutics made a similar move. I am not receiving compensation for it (other than from Seeking Alpha). Its a win-win situation for both. , the company is being covered and promoted by several channels including Moon Market, Alpha Status Stocks, DarrenJacksonTV, Trading With CJ, and Voorhees Trading. Which will lower the costs and mass of self-driving vehicles. I am long in TRCH at 36K shares and long in MMATF at 60K shares. Drilling rights in the Permian Basin of West Texas and New Mexico averaged about $24,000 an acre in recent deals, down 67% from 2018, according to Rystad Energy, an Oslo-based research firm. 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. We believe this Transaction provides our shareholders with the best opportunity moving forward. Here is a DD write up and estimate by user u/Mr_Delmont. I view Metamaterial as an interesting startup in a rapidly growing sector, whose valuation has soared due to a short squeeze at Torchlight. Merger Metals LLC has over 40 years of Industry Experience. As you can see, there are many possible valuations. Torchlight also announced that it implemented a 1-for-2 reverse split of TRCH stock. Prior to closing, Torchlight must raise gross proceeds of at least$10 millionthrough the issuance of common stock or securities convertible into or exercisable for common stock, less the value of loans Torchlight has made to Metamaterial. According to META, the 2nd generation manufacturing line is capable of 100,000+ units per month, to support AR and other holographic products, such as automotive HUD displays, laser glare protection, optical filters, diffractive optics, and other photonic applications. 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. 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. Lorem ipsum dolor sit amet, consectetur adipiscing elit. While they do have revenue and have partnered with major companies (Samsung, Boeing, Airbus), I am thinking of them more in terms of a pre-revenue IPO. 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. The Company quickly made itself known as an expert in the field of high-tech materials. The following is a summary of the key terms of the Proposed Transaction as contemplated by the LOI. Its assets are practically worthless, and the stock is worth a fraction of its current market cap that has runup on the merger agreement. On December 14, 2020, the companies signed an agreement for the . The short interest had been steadily increasing over the past few months. Metamaterial closed at only $0.58 on 12/14/20. TRKA Stock: Have Retail Investors Found a Gem in Troika Media Group? What could be a risk, is if the merger is called off. Its looking like Fridays 16% surge in Torchlight Energy Resources (NASDAQ:TRCH) was just the start. This discovery coincided with economic collapse of oil due to Covid crisis. About Metamaterial Inc. META is changing the way we use, interact with, and benefit from light and other forms of energy. The process will essentially be TRCH starting all over again with the same assets, but not as a Nasdaq company anymore. How can investors take part in this move? 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. On that date, the company . The reason why investing in short squeezes is a bad idea is because they dont last long. Torchlight available for borrowing. 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. The stock price of Torchlight Energy Resources Inc (NASDAQ: TRCH) is trading at over 10% pre-market as of 7:14 AM ET. Shares of Meta Material Inc (MMAT.O) gave up premarket gains to fall 20% on Monday, the first day of trading after a merger that saw the niche hi-tech materials maker swallow Torchlight Energy . There is no share available for short selling at Torchlight. Is this happening to you frequently? 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. TRCH stock had more than doubled this month. The company isnt popular on WallStreetBets, but you can find viral posts on the RobinHoodPennyStocks, pennystocks, and smallstreetbets subreddits touting it as a potential short squeeze. All rights reserved. Recall that the company plans to merge with Metamaterial(OTCMKTS:MMATF), which makes advanced materials. 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. Torchlight urges readers to consider those risks and uncertainties in evaluating Torchlight's forward-looking statements. I think the short squeeze is likely to end soon thanks. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines. It has been our goal for META to be a NASDAQ-listed company," stated George Palikaras, President & CEO of Metamaterial. Cardano Dogecoin Algorand Bitcoin Litecoin Basic Attention Token Bitcoin Cash. Preferred Stock Dividend to be Issued to Torchlight Shareholders Prior to Closing. The newly merged company begins trading today as the Nasdaq's first 'metamaterials' stock. Article printed from InvestorPlace Media, https://investorplace.com/2021/06/mmat-stock-meta-materials-hits-nasdaq-as-trch-stock-merger-closes/. 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. The story is narrative-driven and its not prudent to use traditional metrics such as P/S, P/E, or EV/EBITDA. Meta Materials will be buying all issued and outstanding shares of Nanotech stock for a set price of $1.25 per share as a part of the merger. 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. On YouTube, the company is being covered and promoted by several channels including Moon Market, Alpha Status Stocks, DarrenJacksonTV, Trading With CJ, and Voorhees Trading. Liquidity is low on. 1125 N. Charles St, Baltimore, MD 21201. Eg Tesla (TSLA). Note that the company isn't promoting the business itself, but this is being done by a significant number of retail investors and traders. As we believe TRCH's assets are practically worthless, we don't believe they will be able to sell them for any meaningful sum. 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. Orogrande Basin 134,000 acre lease 72.5% interest (97,150 net acres), the site has had several successful test wells drilled. $12M is about the value of a clean empty shell Nasdaq listing. 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. 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. special purpose acquisition companies (SPACs). META Executive Team has an extremely deep educational background in the hard sciences with a lot of experience creating innovative products. 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. If it's a value stock - great. 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