As a result,. The Company quickly made itself known as an expert in the field of high-tech materials. At TRCH's current share price, it is trading at a whopping 1050% premium to its arbitrage value. Jun. This confirms to us that our analysis on TRCH is correct. The current price of West Texas Intermediate (WTI)is currently $61.50 barrel. 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. Perform your own due diligence and consult a financial professional before trading. On the date of publication, Robert Lakin did not have (either directly or indirectly) any positions in the securities mentioned in this article. I view Metamaterial as an interesting startup in a rapidly growing sector, whose valuation has soared due to a short squeeze at Torchlight. Higher field strength systems cost much more. The following is a summary of the key terms of the Proposed Transaction as contemplated by the LOI. Transformational Deal to Accelerate Growth, Scale and Commercialization of Metamaterials. Theres even room for more lines. MMAT has no desire to keep any of TRCH's assets in the combined company. CTO Jonathan Waldern stated, Under a new brand name, metaFUSION, we are now applying that proven technology and other functionality directly encapsulated into eyeglasses, to compliment waveguide-based displays similar to HoloLens.. They have three major oil and gas assets. Perform your own due diligence and consult a financial professional before trading. I have no business relationship with any company whose stock is mentioned in this article. As shown in the arrangement agreement filing, if one party calls off the merger, they must pay a "Termination Payment" of $2M. 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. The reason why investing in short squeezes is a bad idea is because they dont last long. Oil averaged $40.75 that month. Additional Information and Where to Find It. Valuation The value oil drilling acreage is a moving target after the price of crude oil started collapsing in March of 2020. Torchlight Energy and Metamaterial (MMATF) announced the signing of a definite agreement on 12/14/20 for a business combination. 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. 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. That gave it a market cap of only $48M. We welcome you to check back often as we continue on our path towards a cleaner, more green, zero-emissions future. Additional disclosure: I am not a financial adviser. Many of META's functional materials and metamaterials are designed to increase the efficient use of light and other energy forms. 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. I think the main risk for the bear case is a second short squeeze, like what happened at GameStop in March. Copyright Neither META or Torchlight has incurred any finders fees in association with this transaction. - Andr Kostolany. All statements in this release that are not based on historical fact are "forward looking statements." With this, Metamaterials share price is likely to tumble to around $3 per share. 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. On that date, the company . Metamaterial shareholders may elect to receive either shares of Torchlight common stock or shares of a Canadian subsidiary of Torchlight, which will be exchangeable into Torchlight common stock (the Exchangeable Shares). Metamaterial and it has little to do with the company itself. The short interest had been steadily increasing over the past few months. Combine this sector with other markets like advanced materials, IoT, medical, energy, aerospace, and automotive markets, and the market opportunity grows beyond $3 trillion. It could also cause a short squeeze and renewed hype due to the change in events. Recall that the company plans to merge with Metamaterial (OTCMKTS: MMATF ), which makes advanced materials. We believe the reason for this is speculation over the merger and sale of the assets. 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 . If it's a value stock - great. Although the management of META believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. We are very excited to showcase how metamaterials go beyond conventional materials and chemistry, to offer new and highly sustainable solutions with semiconductor precision, at kilometer scale.. 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 headquartered inHalifax, Nova Scotiaand has R&D and Sales offices inLondon, UKand Silicon Valley. have over 50,000 views each. META's portfolio comprises 28 patent families, 19 of which are granted. They are composite structures, consisting of conventional materials such as metals and plastics, that are engineered by scientists to exhibit new or enhanced properties. Just look at the share price and volume for Torchlight. The short interest had been steadily increasing over the past few months. 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. In my view, when these short squeezes are caused intentionally, there could be multiple waves. About Metamaterial Inc. META is changing the way we use, interact with, and benefit from light and other forms of energy. For further information: Investor Relations and Media Contacts: Graham Farrell, Harbor Access LLC (416) 842 9003[emailprotected], Mark Komonoski, Director Capital Markets and IRMetamaterial Inc. 877-255-8483[emailprotected], Torchlight Derek Gradwell Integrous Communications 512-270-6990[emailprotected],[emailprotected], Meta Materials Inc. On the date of publication, Robert Lakin did not have (either directly or indirectly) any positions in the securities mentioned in this article. 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. The story is narrative-driven and its not prudent to use traditional metrics such as P/S, P/E, or EV/EBITDA. Before GameStop, the most famous case was in 2008 when German auto giant Volkswagen (. 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. Using that market cap, that puts TRCH's value at only $48M x 25% = $12.12M. There is no share available for short selling at Torchlight. TRCH shareholders will get 25% of the combined company, which at MMATF's market cap, puts TRCH's current value at 35c per share, assuming its assets are worthless. 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. The following is the 3-month chart for TRCH: TRCH closed at $0.46 on 12/17/20. 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 industry leader for online information for tax, accounting and finance professionals. 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. GameStop Moderna Pfizer Johnson & Johnson AstraZeneca Walgreens Best Buy Novavax SpaceX Tesla. Metamaterial operates under the META brand and is a smart materials and photonics company. , this is what I like to see in a startup a rapidly growing market and great products and partnerships. 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. 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. I have no business relationship with any company whose stock is mentioned in this article. 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. Google finance notes a 21.48% year over year revenue increase and META claims a $121m a year revenue potential over the next 18 months. design and manufacturing of complex films and other materials called metamaterials, which can manipulate and utilize light and other forms of energy. Is this happening to you frequently? All articles are my opinion - they are not suggestions to buy or sell any securities. On April 30, the company. It also announced plans for the merger of the company to close today. Metamaterial is getting a listing on NASDAQ in an easy way, while Torchlight investors get some money. Sign up below to get this incredible offer! "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. Please disable your ad-blocker and refresh. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Therefore, this reverse merger is basically an admission of failure by TRCH and its shareholders, they couldn't gain any traction with their oil and gas assets to maintain their spot on the Nasdaq. Orogrande Basin 134,000 acre lease 72.5% interest (97,150 net acres), the site has had several successful test wells drilled. There arent that many shares available for borrowing, but the fee rate is still at reasonable levels. The Proposed Transaction represents a strategic shift for Torchlight. Financials The finances of META do not, in my opinion, create an accurate picture. I am not receiving compensation for it (other than from Seeking Alpha). 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. 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"). to the latter's decision to take advantage of the situation and raise some cash. 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. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known. Metamaterial closed at only $0.58 on 12/14/20. (Edited after IR clarification) The special dividend will be as of the record date, which has not been determined. I think that Metamaterial is an exciting startup, but the end of the short squeeze is likely to push down its shares back to around $3 per share. Is there a short squeeze? valued at much less. 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. 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. After the merger is complete META will be the company name and it will be listed on the NASDAQ. 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. Metamaterial designs, develops, and manufactures advanced materials specializing in nanocomposites, nanofabrication, and machine learning to control light and electromagnetic waves. META's innovations have been reported in popular technology magazines such as Wired.com "Bizarre New Materials Could Make Bendy Phones That Work" and the Financial Times which listed the category of metamaterials in their "50 Ideas To Change The World" in a special annual report. This February META acquired Interglass Technology AG of Switzerland, their IP and over 70 patents. If the dividend or share buyback yield is high - even better. 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. Only the Nasdaq listing. There is no share available for short selling at Torchlight. The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release. It all happens at the free AI Super Summit. 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. Regarding valuation, I think its nearly impossible to come up with numbers for rapidly growing startups. First, shareholders valued the large and promising portfolio of technologies and patents. META has a growing patent portfolio with three core technologies; holographic, lithographic, and wireless sensing, designed for high volume applications. Energy Applications META is currently working with Lockheed Martin and MTI to create metaSolar a NanoWeb based solar thin films that will increase solar cell efficiency by capturing light from all angles and light that would otherwise be reflected. Shareholders have approved the deal, whose terms stipulate that Metamaterial. Opening a small short position on the CSE could be a good idea. quotes delayed at least 15 minutes, all others at least 20 minutes. The transaction is essentially a reverse merger, with Metamaterial getting a NASDAQ listing for their firm,. Please disable your ad-blocker and refresh. As shown in Metamaterial's executive statements above, there is no mention at all of any value to TRCH or its assets. GameStops January short squeeze lasted just around two weeks and ended just as mainstream media picked up the story. CTO and Chairman Dr. Waldern founded DigiLens and Retinal Displays, Inc., he holds a PhD in Computer Science Virtual Reality, he has over 170 patents and specializes in waveguides. Aerospace and Defense- META has extensive experience providing laser protection, de-icing and de-fogging products to aviation companies. Typically, mechanical metamaterial properties are programmed and set when the architecture is designed and constructed, and do not change in response to shifting environmental conditions or application requirements. In connection with the proposed merger, Tesla has filed with the SEC a Registration Statement on Form S-4 (Registration Statement No. 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. Automotive HUD See Solution De-icing / De-fogging See Solution Transparent Antennas See Solution There can be no assurances that the Transaction will be consummated. It will likely be spun off onto the OTC exchange. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. Several of the videos on Torchlight have over 50,000 views each. which is measured in Tesla (T). I wrote this article myself, and it expresses my own opinions. ), which is starting to look significantly overvalued due to a retail investor-led short squeeze at a small energy company named Torchlight Energy Resources (NASDAQ: Metamaterial operates under the META brand and is a, smart materials and photonics company. 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. They acquired this land at $10,471 per acre. Cardano Dogecoin Algorand Bitcoin Litecoin Basic Attention Token Bitcoin Cash. The shares, however, gave up some of the gains after the company upsized its stock offering. Looking forward to March 12th. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. 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. Torchlight stock closed at $4.95 a share Friday, and Meta Material. 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. 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. Since 2011, approximately CAD $60MM has been invested in META, yielding a sizable IP portfolio. Do you remember the GameStop (NYSE:GME) short squeeze? All statements in this release that are not based on historical fact are forward looking statements. These statements may be identified by words such as estimates, anticipates, projects, plans, strategy, goal, or planned, seeks, may, might, will, expects, intends, believes, should, and similar expressions, or the negative versions thereof, and which also may be identified by their context. Through this reverse merger Torchlight receives a 25% stake in META. Regarding valuation, I think its nearly impossible to come up with numbers for rapidly growing startups. The new company, Meta Materials Inc., will begin trading on the Nasdaq after Monday's opening bell under the ticker symbol MMAT. The reason why the short squeeze at Torchlight is likely to end soon is because the company is taking advantage of the irrational share price increase and has launched a $250 million share offering. The company detailed its paying of a special dividend to its shareholders, as well as a reverse stock split. Lorem ipsum dolor sit amet, consectetur adipiscing elit. 3rd party valuation of potential recoverable hydrocarbons, 2. Two Wall Street Legends will reveal their #1 recommendations and full "roadmap" for navigating the coming AI revolution. Investors are pushing the value up another 40% ahead of Monday trading as meme stock message boards continue to light up on TRCH stock. Upon completion of the Proposed Transaction, shareholders of META are expected to hold a 75% interest in the combined entity. At TRCH's current share price, Metamaterial would have to have a market cap of around $2B by then in order for longs to make a gain apart from any dividend. For additional information on Torchlight, please visit www.torchlightenergy.com. 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.. How can investors take part in this move? The opinions expressed in this article are those of the writer, subject to theInvestorPlace.comPublishing Guidelines. 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. All statements in this release that are not based on historical fact are `` forward looking statements ''! With the Proposed Transaction represents a strategic shift for Torchlight that are based. Gme ) short squeeze and renewed hype due to the latter 's decision to take advantage of the and. Numbers for rapidly growing startups its arbitrage value entities globally to help uncover hidden risks business... 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