, this is what I like to see in a startup a rapidly growing market and great products and partnerships. Pursuant to the LOI, both Torchlight and META are prohibited from directly or indirectly soliciting or participating in any discussions regarding a sale of their business until November 2, 2020, unless extended in writing by both parties. Augmented Reality applications- META has been developing the necessary technology while also acquiring other companies and their patents. InvestorPlace contributor Robert Lakin is a veteran financial writer and editor, including previous stints with Bloomberg News and as a buyside equity research editor. Metamaterial and it has little to do with the company itself. InvestorPlace contributor Robert Lakin is a veteran financial writer and editor, including previous stints with Bloomberg News and as a buyside equity research editor. 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. 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. Orogrande Basin 134,000 acre lease 72.5% interest (97,150 net acres), the site has had several successful test wells drilled. The current price of West Texas Intermediate (WTI)is currently $61.50 barrel. 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. TRKA Stock: Have Retail Investors Found a Gem in Troika Media Group? Copyright 2023 InvestorPlace Media, LLC. - Andr Kostolany. Metamaterial designs, develops, and manufactures advanced materials specializing in nanocomposites, nanofabrication, and machine learning to control light and electromagnetic waves. I have been investing in stocks since 2007.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. Assuming that TRCH's assets are worthless, based on Metamaterial's market cap, that values TRCH at $198 x 25% = $49.50M, which equals a share price of $49.5M/143M = $0.35. Trading on the OTC, TRCH won't be able to command nearly the valuation or attention that it could on the Nasdaq. Although the management of Metamaterial believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. On the date of publication, Robert Lakin did not have (either directly or indirectly) any positions in the securities mentioned in this article. How can investors take part in this move? The merger was analyzed by SA contributor Safety In Value back in March. For reference WTI is currently at $61.50, expected to hit 80-100 in the next 6 months and was hovering around $40 at the time. $12M is about the value of a clean empty shell Nasdaq listing. 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. 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. Regarding valuation, I think its nearly impossible to come up with numbers for rapidly growing startups. Today, I want to talk about how an interesting Canadian startup named Metamaterial (MMATF), 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:TRCH). Need more information or have an interview request? We are very excited to sign the definitive agreement with Metamaterial, statedJohn Brda, Torchlights CEO. ET. Theres even room for more lines. listed company in the world with a market capitalization of 300 billion. 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. 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. Although META 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. Basically, Metamaterial shareholders get 75% of the new company. Two Wall Street Legends will reveal their #1 recommendations and full "roadmap" for navigating the coming AI revolution. It is intended to reposition Torchlight into the multi-billion-dollar Advanced Materials market1 as a global cleantech and technology leader. Torchlight (TRCH) and Metamaterials (MMATF) Merger: HOW MUCH MONEY WILL WE GET! Torchlight, Metamaterial and their respective directors, executive officers and other members of their management and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies of Torchlight Shareholders in connection with the proposed business combination. Metamaterial designs, develops, and manufactures. Meta Materials' (META) stock faced a lot of praise and headwinds in 2021. The Merger: This merger is in and of itself proof of the economic transition taking us from destructive technology to disruptive technology. META's portfolio comprises 28 patent families, 19 of which are granted. It did sell its interest in its Winkler Project in November for $450K, but that's not a significant sum. Although the management of META believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. Accordingly, readers should not place undue reliance on any forward-looking statements or information. The reason why investing in short squeezes is a bad idea is because they dont last long. See the 3rd party verified return on each of our bearish reports over the last 24 months at: https://breakoutpoint.com/as-summary/white-diamond-gvmtg/To inquire about becoming a premium subscriber, send a PM here or email us at research@whitediamondresearch.com.Follow us on twitter @whiteresearch. 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. 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. and unknown risk factors and uncertainties affecting the companies, including risks regarding the ability of the parties to close the proposed transaction, the ability of the parties to raise necessary equity capital, approval of the transaction and continued listing by the NASDAQ, approval of the Canadian Securities Exchange, receipt of shareholder approval and required third party and regulatory consents, the risk that Torchlight may not be able to dispose of its oil and gas assets on favorable terms or at all, risks related to the technology industry, market strategic and operational activities, and managements ability to manage and to operate the business. It will likely be spun off onto the OTC exchange. The merger between TRCH and Metamaterial will likely happen after shareholders vote on it on March 12th, as stated in this PR. The oil and gas exploration and production company based out of Plano, Texas, has become something of a regular on meme chats and threads, likeReddits r/WallStreetBets and other subreddits, in recent weeks. With this in mind, it seems likely that Metamaterials share price will go back to around the $3 level in the near future. I wrote this article myself, and it expresses my own opinions. This discovery coincided with economic collapse of oil due to Covid crisis. Torchlight shareholders on the record date will be entitled to receive a preferred stock dividend, payable immediately prior to the closing of the Transaction, that entitles them to their pro rata share of any proceeds resulting from any sale of Torchlights oil and gas assets that occurs on the earlier ofDecember 31, 2021or six months from the closing of the Transaction, and, after such time if such sales are not complete, will be entitled to receive a pro rata equity interest in a spin-off entity that holds Torchlights remaining oil and gas assets, subject to certain conditions. In connection with the Transaction, Torchlight and Metamaterial respectively obtained fairness opinions. Note that the company isn't promoting the business itself, but this is being done by a significant number of retail investors and traders. 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. "I am excited to work with them and equally excited about the outcome for our faithful Torchlight shareholders. The preferred share will provide shareholders of record, the right of participation in the net proceeds of the sale of Torchlights oil and gas assets, subject to certain holdbacks and time constraints. Metamaterial ( OTCPK:MMATF) is merging with Torchlight Energy Resources ( TRCH ). 1125 N. Charles St, Baltimore, MD 21201. We believe the reason for this is speculation over the merger and sale of the assets. Eg Tesla (TSLA). 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"). 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