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. Metamaterial shares available in Canada. The merger was analyzed by SA contributor Safety In Value back in March. The company isnt popular on WallStreetBets, but you can find, Also, Torchlight has been one of the most discussed stocks on. That equals $251.6/1.27 = $198M USD. 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. "In order to unlock value potential from our national listing and access to the capital markets, we shifted some attention from the divestiture of our oil and gas assets to an acquisition strategy targeting proven disruptive technology companies with strong environmental, social and governance (ESG) priorities. Several of the videos on Torchlight have over 50,000 views each. GameStop Moderna Pfizer Johnson & Johnson AstraZeneca Walgreens Best Buy Novavax SpaceX Tesla. 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. Torchlight is likely to end soon is because the company is taking advantage of the irrational share price increase and has launched a, Brooklyn ImmunoTherapeutics made a similar move. Neither META or Torchlight has incurred any finders fees in association with this transaction. 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. Not only will their loyalty be rewarded with ownership in Metamaterials, they will also retain full value in our oil and gas assets through the Special Dividend.". This February META acquired Interglass Technology AG of Switzerland, their IP and over 70 patents. They are composite structures, consisting of conventional materials such as metals and plastics, that are engineered. Automotive HUD See Solution De-icing / De-fogging See Solution Transparent Antennas See Solution It has been our goal for META to be a NASDAQ-listed company, stated George Palikaras, President & CEO of Metamaterial. (Edited after IR clarification) The special dividend will be as of the record date, which has not been determined. 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 . 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. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Merger Metals LLC has over 40 years of Industry Experience. Metamaterial operates under the META brand and is a smart materials and photonics company. Sign up below to get this incredible offer! This transaction is similar to the popular deals involving. Before GameStop, the most famous case was in 2008 when German auto giant Volkswagen (OTCPK:VLKAF) briefly became the most valuable listed company in the world with a market capitalization of 300 billion. 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. Copyright The process will essentially be TRCH starting all over again with the same assets, but not as a Nasdaq company anymore. The whole stock market depends only on whether there are more shares than idiots or more idiots than shares. 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. I think the main risk for the bear case is a second short squeeze. If no sales occur, then they will receive an equity interest in a spin-off entity that holds TRCH remaining oil and gas assets.". 60 Highfield Park Dr, Dartmouth, NS B3A 4R9 Canada, Tel: 1-902-482-5729 I am not receiving compensation for it (other than from Seeking Alpha). The following is a summary of the key terms of the pending Transaction as contemplated by the Arrangement Agreement. Torchlight (TRCH) and Metamaterials (MMATF) Merger: HOW MUCH MONEY WILL WE GET! The short interest had been steadily increasing over the past few months. META has also partnered with Lockheed Martin and the Canadian Government's Sustainable Development Technology Canada (SDTC) fund to develop metaSOLARTM a new solar energy product suitable for the transportation industry. It sounds like the merger vote will occur sometime around mid-March. The market for metamaterials is almost non-existent at the moment but is projected to grow to $10.7 billion SAM by 2030. 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. You see, Metamaterial wants to list on a large US stock exchange, and to do this, its carrying out a reverse takeover with a small NASDAQ-listed US energy company named Torchlight. (you can quote me on this). 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. 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. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. 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. META is headquartered in Dartmouth, Nova Scotia and has offices in London, UK and Pleasanton, California. At this point I think their customer service reps probably have PhDs. Perform your own due diligence and consult a financial professional before trading. Electro Optical & Infrared Systems (EO/IR). Upon completion of the Proposed Transaction, shareholders of META are expected to hold a 75% interest in the combined entity. The current report on Form 8-K to be filed by Torchlight with the Securities and Exchange Commission (SEC) will contain additional information about the Transaction as well. Augmented Reality applications- META has been developing the necessary technology while also acquiring other companies and their patents. META's portfolio comprises 28 patent families, 19 of which are granted. Its assets are practically worthless, and the stock is worth a fraction of its current market cap that has runup on the merger agreement. This will also trigger a special dividend to shareholders of Torchlight. 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. This is an arranged marriage of sorts, it is the catalyst that will allow META to bring their disruptive technology to the forefront of several growing sectors, each at or near their inflection point. Short squeezes rarely last long and Torchlight is selling shares, which is a very good scenario to take a short position. The Proposed Transaction remains subject to completion of a due diligence review by each party and negotiation of definitive agreements and the structure may change due to tax or other transaction considerations. In 2020 to date, META has been granted 11 new patents. I view Metamaterial as an interesting startup in a rapidly growing sector, whose valuation has soared due to a short squeeze at, Torchlight. Metamaterials Technologies, known as META ( MMATF :US MMAT :CAN) is currently trading at $2.66 as of 02.27.2021. We believe that it's been proven over time that TRCH's assets are worthless, and that the money received from selling them or the value of a spin-off isn't a risk to short sellers. 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 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. Metamaterial designs, develops, and manufactures advanced materials specializing in nanocomposites, nanofabrication, and machine learning to control light and electromagnetic waves. Torchlight's stock rose as high as 74% last Monday as retail investors piled into the stock with record volumes. 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. Orogrande Basin 134,000 acre lease 72.5% interest (97,150 net acres), the site has had several successful test wells drilled. A video interview with both CEO's and Torchlight's Chairman will be available this week and separately announced with links provided. There seems to be a short squeeze at Torchlight, with which Metamaterial is merging to list on NASDAQ. CSO and co-Founder Themos Kallos is Chief Science Officer with Ph.D. in Electrical Engineering with expertise in applied physics, metamaterials, wireless communications, and electromagnetic simulations. Acquiring other companies and their patents 's and Torchlight is selling shares, which has not been determined and,! 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