Aerospace and Defense- META has extensive experience providing laser protection, de-icing and de-fogging products to aviation companies. - 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. Only the Nasdaq listing. 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. However, a termination of the merger would likely a be a bad event for Metamaterial's share price, because then it would be stuck trading on the Canadian exchange and would have to find a new Nasdaq reverse merger candidate. Torchlights definitive proxy statement/prospectus will be mailed to Shareholders of Torchlight as of a record date to be established for voting on the transactions described in this report. Please. 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. META designs and manufactures advanced materials and performance functional films which are engineered at the nanoscale to control light and other forms of energy. META has a growing patent portfolio with three core. MMAT has no desire to keep any of TRCH's assets in the combined company. META's portfolio comprises 28 patent families, 19 of which are granted. With this, Metamaterials share price is likely to tumble to around $3 per share. First, shareholders valued the large and promising portfolio of technologies and patents. . 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. Which will lower the costs and mass of self-driving vehicles. 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. Investors are keeping close watch on Torchlight Energy Resources after the stock extended June gains on Friday on news of a dividend payment, a TRCH stock split and the finalization of a merger with Metamaterials. 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. 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). Combine this sector with other markets like advanced materials, IoT, medical, energy, aerospace, and automotive markets, and the market opportunity grows beyond $3 trillion. Financials The finances of META do not, in my opinion, create an accurate picture. Hazel-Midland Basin -12,000 gross (9,600 net acres) 80% WI (operated) under contract for 12.4m ($1300 acre), 3. Torchlight announced Friday that its. 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. 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. - Andr Kostolany. 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 following calculations are based off numbers present by the company in March of 2020. In connection with the Transaction, Torchlight and Metamaterial respectively obtained fairness opinions. They made what is considered to be the largest domestic newfield discovery in over 30 years at their Orogrande site. Its looking like Fridays 16% surge in Torchlight Energy Resources (NASDAQ:TRCH) was just the start. 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"). In March of 2020, Torchlight decided to pivot their entire operation and and to divest all of oil and gas assets and to embark on a reverse merger with a future focused company. Metamaterial designs, develops, and manufactures. 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. 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. Metamaterial shares available in Canada. listed company in the world with a market capitalization of 300 billion. The company it's combining with, Metamaterial, has no interest in TRCH's business or assets. As shown in Metamaterial's executive statements above, there is no mention at all of any value to TRCH or its assets. Electro Optical & Infrared Systems (EO/IR). I am not receiving compensation for it (other than from Seeking Alpha). ), 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. 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. Before GameStop, the most famous case was in 2008 when German auto giant Volkswagen (. META has a total of 52 granted and 37 pending patent applications, including 26 in the United States and 63 in 18 other countries around the world. Therefore, the current value to TRCH shareholders is only 25% of that of Metamaterial's current market cap plus the value of TRCH's oil and gas assets. META Executive Team has an extremely deep educational background in the hard sciences with a lot of experience creating innovative products. The recent loan from Torchlight does not figure into the numbers below. Metamaterial designs, develops, and manufactures advanced materials specializing in nanocomposites, nanofabrication, and machine learning to control light and electromagnetic waves. Investors and security holders may obtain more detailed information regarding the names, affiliations and interests of Torchlights directors in its Annual Report on Form 10-K for the fiscal year endedDecember 31, 2019, which was filed with the SEC onMarch 16, 2020. Metamaterial closed at only $0.58 on 12/14/20. At TRCH's current share price, it is trading at a whopping 1050% premium to its arbitrage value. It all happens at the free AI Super Summit. However, I think things have gotten out of hand with the valuation of Metamaterial and it has little to do with the company itself. There can be no assurances that a transaction will be consummated as a result of the LOI. 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. Such statements are based on the current expectations and views of future events of the management of META and are based on assumptions and subject to risks and uncertainties. Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. METAs unique Nanoweb films are 98% transparent, meaning that they can be placed on any glass. 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. The Proposed Transaction represents a strategic shift for Torchlight. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. 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. The combined entity will continue to service a clientele of world-class OEM customers for a range of applications in the automotive, aerospace and defense, energy, consumer electronics and medical markets. Sign up below to get this incredible offer! Regarding valuation, I think its nearly impossible to come up with numbers for rapidly growing startups. As well as the conversion of the company's debt to equity. 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. Torchlights Shareholders will also be able to obtain a copy of such documents, without charge, by directing a request to:John A. Brda, President of Torchlight Energy Resources, Inc., 5700 W. Plano Parkway, Suite 3600,Plano, Texas75093; e-mail:[emailprotected]. Torchlight and Metamaterial will prepare a proxy statement/prospectus for Torchlights Shareholders to be filed with the SEC. 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. META's CEO, George Palikaras to be appointed CEO of the Combined Company, along with the appointment of a new CFO. Torchlight shares will be static, METAs shares will be adjusted to maintain the ratio of 75% META share ownership and 25% Torchlight share ownership. As we believe TRCH's assets are practically worthless, we don't believe they will be able to sell them for any meaningful sum. (you can quote me on this). Readers are cautioned to not place undue reliance upon any such forward-looking statements, which speak only as of the date made. 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. In 2020 to date, META has been granted 11 new patents. The same is happening at the moment with Torchlight. Additional risks and uncertainties are described in or implied by the Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of Operations sections of Torchlights 2019 Annual Report on Form 10-K, filed onMarch 16, 2020and other reports filed from time to time with the SEC. We are here to support any Tesla vehicle with repair services, parts, upgrades, and advanced engineering services. That would bring a per share value to TRCH of $12.12M/143M = ~$0.08. It has gone up significantly since the merger announcement. Torchlight stock closed at $4.95 a share Friday, and Meta Material. I have spoken with many industry experts and received varying price targets that trended toward the upper side of the values I am presenting. I wrote this article myself, and it expresses my own opinions. There seems to be a short squeeze at Torchlight, with which Metamaterial is merging to list on NASDAQ. The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release. That short squeeze lasted just one week. 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. On April 30, the company. If it's a value stock - great. TRCH shareholders will receive a 25% equity interest in the combined company, while MMAT shareholders will receive a 75% interest. The assets of Torchlight energy include three project sites, an experienced management team, access to capital, and a NASDAQ listing. 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 company hasn't made any significant progress since our report with selling or developing any of its oil and gas assets. 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. For those who . The purpose of the merger is only so Metamaterial can be listed on the Nasdaq. Is this happening to you frequently? Torchlight Energy Resources, Inc. (TRCH), based in Plano, 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. 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. Metamaterial designs, develops, and manufactures advanced materials specializing in nanocomposites, nanofabrication, and machine learning to control light and electromagnetic waves. META is currently trading at $2.66 I anticipate a near doubling with a successful merger vote. I wrote this article myself, and it expresses my own opinions. Pertinent deal terms are as follows: Torchlight and Metamaterial invite all interested parties to view a webcast introduction of George Palikaras, CEO of META and an overview on META. Several of the videos on Torchlight have over 50,000 views each. Here is a DD write up and estimate by user u/Mr_Delmont. 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. 60 Highfield Park Dr, Dartmouth, NS B3A 4R9 Canada, Tel: 1-902-482-5729 Torchlight has loaned USD$500,000 to META pursuant to an unsecured convertible promissory note (the "META Note") and has agreed to loan an additional USD$500,000 to META within 5 days of signing the Definitive Agreement (in aggregate, the "Loaned Amounts"). I think the short squeeze is likely to end soon thanks. Today, I want to talk about how an interesting Canadian startup named Metamaterial (. This discovery coincided with economic collapse of oil due to Covid crisis. All rights reserved. This year is weird. 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. The dividend will be one preferred share on a pro rata basis of the holding company holding the net proceeds (or assets if they have not yet sold). Accordingly, readers should not place undue reliance on any forward-looking statements or information. Following the Closing of the Transaction the board of directors of the combined company shall be comprised of 7 members (a) one of whom shall be appointed by Torchlight , subject to the approval of META and (b) one of whom shall be jointly agreed to by META and Torchlight . META has an extensive intellectual property portfolio, a global presence and multiple R&D and product development agreements with government agencies and private enterprises. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Using that market cap, that puts TRCH's value at only $48M x 25% = $12.12M. 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. - YouTube 0:00 / 12:23 #Metamaterials #TRCH Metamaterials (MMATF) and Tesla (TSLA) Rumors | Why it COULD MAKE. ?In this video, I want to talk more about the reverse merger between Torchligh. The Plano, Texas-based company traces its roots back to Pole Perfect, incorporated in 2007 in Nevada to market feminine fitness dance studios utilizing the advantages of pole dancing. This Proposed Transaction is the first step in that effort, providing our shareholders with access to the multi-billion-dollar target market and new applications that are being revolutionized with sustainable technologies, while allowing them to participate in the future upside from our oil and gas asset divestitures. InvestorPlace contributor Robert Lakin is a veteran financial writer and editor, including previous stints with Bloomberg News and as a buyside equity research editor. That equals $251.6/1.27 = $198M USD. , Lot of experience creating innovative products that would bring a per share value to TRCH or assets. This video, i want to talk more about the reverse merger between Torchligh are granted it gone. 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