PLANO, TX / ACCESSWIRE / June 25, 2021 / Torchlight Energy Resources, Inc. (NASDAQ:TRCH), an oil and gas exploration company ('Torchlight'), today announced that it paid the special Series A Preferred Stock dividend on a 1 for 1 basis to its stockholders of record on June 24, 2021. The purpose of each video will be to boost your potential gains in the stock market. To ensure that the Metamaterial Inc. shareholders owned the same approximate 75% after the reverse split, the exchange ratio was divided by 2, to 1.845 shares of Torchlight (which will be renamed Meta Materials Inc. as of Monday morning) for each share of Metamaterial Inc., to reflect the reverse split impact on total outstanding shares of Torchlight. Article printed from InvestorPlace Media, https://investorplace.com/2021/07/after-torchlight-merger-wait-and-see-mmat-stock/. Mostly, its potential as a short-squeeze play. The company dealt with oil and gas exploration and production. The purpose of each video will be to boost your potential gains in the stock market. I will be sharing my knowledge and insight of trading strategy by providing stock analysis of the latest share to invest in and the best strike prices. Not only that, the special dividend paid out before the deal close represents a $77.9 million preferred stock claim on its shareholder equity. 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. Plus 3 Stocks for March.It would be very much appreciate. Torchlight also announced that the steps necessary to close the business combination with Metamaterial Inc. were completed on June 25, 2021 and therefore Torchlight expects that the business combination will be effective on June 28, 2021 as of 12:01 AM EDT. On January 14, 2022, METAprovided an updateon the Companys oil and gas assets and operations. Hold off, as its sell-off is likely far from over. Existing areas of focus include 5G, self-driving cars and solar energy. In other words, these numbers reflect aggregate fails as of a specific point in time, and may have little or no relationship to yesterdays aggregate fails. Electro Optical & Infrared Systems (EO/IR). We indicated that four wells must be drilled in the Orogrande project in 2021 to enable the Company to hold the lease for sale or spinout. About Meta Materials Inc. (NASDAQ: MMAT) META delivers previously unachievable performance, across a range of applications, by inventing, designing, developing, and manufacturing sustainable, highly functional materials. Strategy has now been improved to allow experienced traders to have more flexibility, with a further 3 exclusive videos for our discord members as well as the release of our stocks spreadsheet.https://youtu.be/ZTSaM530_EULesson : Million Dollar Challenge update#tradingsecrets #MMAT #milliondollarchallengeThis video is for entertainment purposes only. As a result, Meta Materials started trading on the, These are composite structures, consisting of conventional materials such as metals and plastics, that are engineered by META scientists to exhibit new or enhanced properties.. More details about these and other risks that may impact the Companys businesses are described under the heading Forward-Looking Information and under the heading Risk Factors in the Companys Form 10-K filed with the SEC on March 1, 2022, with an SEC filing date of March 2, in the Companys Form 10-Q filed with the SEC on November 15, 2021, and in subsequent filings made by Meta Materials with the SEC, which are available on SECs website at www.sec.gov. Mr. DuBose has successfully acquired, managed, and/or sold thousands of royalty acres and working interests in the United States. This team is already consulting to OilCo and operating the Orogrande project and has been very valuable to our efforts during the drilling process. Sponsored: Find a Qualified Financial Advisor. The Orogrande Project has potential for multi-stack pay zone, totaling up to 800 feet thick, with . Rob StoneVice President, Corporate Development and CommunicationsMeta Materials Inc. Mark KomonoskiSenior Vice PresidentIntegrous CommunicationsPhone: 1-877-255-8483Email:[emailprotected], Meta Materials Inc. For investors, the most interesting part of the report might have been the line captioned Assets Held for Sale. Before investing in our common stock, you should carefully consider the risks described below, together with the risk factors contained in the section entitled "Risk Factors" of the Company's Annual Report on Form 10-K for the year ended December 31, 2020, filed with the Securities Exchange . Business enquiries: newtradingsecrets@gmail.comMMAT MMTLP Metamaterials New Special Dividend Rumour. Sure, as InvestorPlace's Alex Sirois recently detailed, it has $160 million . This exchange ratio was planned to result in the Metamaterial Inc. shareholders owning approximately 75% of the resulting post-merger company, Meta Materials Inc, subject to financings prior to the closing of the business combination. Accordingly, readers should not place undue reliance on any forward-looking statements or information. As of this writing, more than 12 million shares of the stock have changed hands. All rights reserved. He has a proven track record of implementing technological advancements to reduce costs and increasing operational efficiencies. Copyright 2023 InvestorPlace Media, LLC. All rights reserved. It may be able to turn its technology into high levels of growth in the coming years. More details about these and other risks that may impact the Companys businesses are described under the heading Forward-Looking Information and under the heading Risk Factors in the Companys Form 10-Q filed with the SEC on November 15, 2021, in the Companys Form 10-K filed with the SEC on March 18, 2021, and in subsequent filings made by Meta Materials with the SEC, which are available on SECs website at www.sec.gov. HALIFAX, NS / ACCESSWIRE / December 3, 2021 / Meta Materials Inc. (the "Company" or "META") (NASDAQ:MMAT, FSE:MMAT) a developer of high-performance functional materials and nanocomposites, today provided an update on the special Series A Preferred Stock dividend in relationship to the oil and gas assets and the planned sale or spinout of these assets for the benefit of the Series A preferred stockholders. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. "I would like to take this opportunity to thank all of Torchlight's shareholders, its Board and the team at Metamaterial Inc. for their long time support, enthusiasm and efforts in making this merger a success," commented John Brda, Torchlight's Chief Executive Officer. He co-founded Valor Mineral Management and Mineral Tech. Often but not always, forward-looking information can be identified by the use of words such as pursuing, potential, predicts, projects, seeks, plans, expect, intends, anticipated, believes or variations (including negative variations) of such words and phrases, or statements that certain actions, events or results may, could, should, would or will be taken, occur or be achieved. His career started at CNX Gas, and he holds a Bachelor of Science in Petroleum Engineering from Marietta College. Biographies of each of the team members are as follows: Clifton Dubose Jr. 12 Years Experience. Meta reported second-quarter revenue of $624.32 million, of which $622.37 million was identified as development revenue. Based on its pro forma financials, revenues on an annualized basis come out to around $2.4 million. The Company believes that, upon completing the work on these four wells, META will be in compliance with all aspects of its lease obligations, and the CDC (Continuous Drilling Clause) with University Lands on the Orogrande project will be satisfied. 60 Highfield Park Dr, Dartmouth, NS B3A 4R9 Canada, Tel: 1-902-482-5729 At a low enough price, it may be a worthwhile bet. Although the management of the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. Such statements are based on the current expectations and views of future events of the management of the Company and are based on assumptions and subject to risks and uncertainties. Our nano-optic technology provides anti-counterfeiting security features for government documents and currencies and authentication for brands. In 2021, the Company incurred costs of $14.2 million in relation to the drilling activity to maintain compliance with the lease obligations. 'I would like to take this opportunity to thank all of Torchlight's shareholders, its Board and the team at Metamaterial Inc. for their long time support, enthusiasm and efforts in making this merger a success,' commented John Brda, Torchlight's Chief Executive Officer. Distributed by Public, unedited and unaltered, on 29 June 2021 21:33:54 UTC. What is Meta Materials's Dividend Payment Date? Investors should refer to additional Risk Factors related to the oil and gas assets in the Companys Form 10-K filed with the SEC on March 1, 2022, with an SEC filing date of March 2. We indicated that four wells must be drilled in the Orogrande project in 2021 to enable the Company to hold the lease for sale or spinout. Torchlight also announced that the steps necessary to close the business combination with Metamaterial Inc. were completed on June 25, 2021 and therefore Torchlight expects that the business combination will be effective on June 28, 2021 as of 12:01 AM EDT. MMAT News. In the prior quarter, the company reported a net loss per share of $0.01 on 155.9 million shares. Rob StoneVice President, Corporate Development and CommunicationsMeta Materials Inc.[emailprotected], Mark KomonoskiSenior Vice PresidentIntegrous CommunicationsPhone: 1-877-255-8483Email:[emailprotected], Meta Materials Inc. MMAT stock is seeing heavy trading today after the merger closed. End-of-day quote Nasdaq The reverse split, which will become effective after market closing on June 25, 2021, was approved by the stockholders of Torchlight at its Special Shareholder meeting held on June 11, 2021. Although the Company 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. This makes it the first company to join the Nasdaq with a focus on creating these materials. MMAT Stock: 14 Things to Know About Red-Hot Meta Materials, 5 Hypergrowth Stocks With 10X Potential in 2023, paying of a special dividend to its shareholders, a major shift compared to Torchlight Energy Resources main business, Short Squeeze Stocks: CLOV, AEI and 3 Other Stocks Experts Think Are Ready to Pop, Dear CCIV Stock Fans, Mark Your Calendars for July 22, Gene Editing Stocks: The Big News Lifting EDIT, BNGO, CRSP and NTLA Stocks, The Countdown to Destruction Has Already Begun for Exela Technologies Stock, Louis Navellier and the InvestorPlace Research Staff, AMC Stock: The Convergence Trade With a Massive Wrinkle, Cathie Wood Is Betting Big on These 5 AI Stocks, Housing Market Crash Alert: Mark Your Calendars for Feb. 28. My toughest video so far. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company 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, except to the extent required by law. The OilCo will also need to secure additional short-term financing, and the Company is exploring multiple options for this financing. For now, still in its early stages, this potential is more than accounted for in its share price. This is my toughest video so far and am aware that not all investors will agree with the questions but I think it is important to present them. What was it that made this one of the hottest names among traders active online? You will get early access to the daily stock alerts and also the weekly watchlist. Completion of this work will, the Company believes, enable us to move to the next steps in the spinout process for these assets. No forward-looking statement can be guaranteed. This team is already consulting to OilCo and operating the Orogrande project and has been very valuable to our efforts during the drilling process. O'Melveny Advises Next Bridge Hydrocarbons in Spin-Off Transaction from Its Publicly-Tr.. All statements that address operating performance or events or developments Torchlight expects or anticipates will occur in the future, such as the closing of the business combination with Metamaterials, stated objectives or goals, our refinement of strategy, our attempts to secure additional financing, our exploring possible business alternatives, or that are not otherwise historical facts, are forward-looking statements. Many investors are counting on a windfall, based on short covering. But now, that trends come and gone once again. Our nano-optic technology provides anti-counterfeiting security features for government documents and currencies and authentication for brands. Is Meta Materials's dividend stable? Should the OilCo spinout be consummated, the team will be evaluated for commensurate employment packages subject to all necessary approvals. Plus 3 Stocks for March.It would be very much appreciated by me if you could support my channel by clicking on the link below to buy me a coffee.https://www.buymeacoffee.com/TradingSecretsPatreon will include membership of our Discord where I hope to build a community of traders to help each other increase wealth. Welcome to the sub, Oil Holdings Inc, a subsidiary of Meta Materials Inc, and currently trading as OTC You can take a look at all of these stories at the links below! Although the management of the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. Strategy has now been improved to allow experienced traders to have more flexibility, with a further 3 exclusive videos for our discord members as well as the release of our stocks spreadsheet.https://youtu.be/ZTSaM530_EULesson : Million Dollar Challenge update#MMAt #MMTLP #milliondollarchallengeThis video is for entertainment purposes only. Prior to the implementation of the reverse stock split, it was expected that Metamaterial, Inc. shareholders would receive 3.690 shares of Torchlight common stock in exchange for each of their shares of Metamaterial. This work includes, but is not limited to, formal transfer of the assets to OilCo Holdings, Inc. (the OilCo), a newly formed wholly owned subsidiary of META, ensuring that the OilCo capital structure supports a spinout and, making any necessary filings with the SEC. meta materials special dividend For additional information on Torchlight, please visit www.torchlightenergy.com. By utilizing innovative technologies in design, the first exploratory well produced 35% higher than type curve. I look forward to working with the management of Meta Materials Inc. to ensure a smooth transition.'. Forward-looking statements involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements as a result of various factors, including those risks and uncertainties described in or implied by the Risk Factors and in Management's Discussion and Analysis of Financial Condition and Results of Operations sections of our 2020 Annual Report on Form 10-K, filed on March 18, 2021, our First Quarter 2021 report on form 10-Q filed on May 14, 2021 and our other reports filed from time to time with the Securities and Exchange Commission ('SEC'). The company closed its merger with Torchlight Energy Resources. Given the scope of the work required to ensure that we remain in compliance with the lease obligations and satisfy a range of regulatory requirements, the Company is targeting a spinout or disposition of the oil and gas assets for early Q1 2022 pending process approvals by all parties involved. All rights reserved. Details of the initial proposal can be seen below. When the spinout is completed, holders of Series A preferred shares will exchange their preferred shares pro rata for the OilCo common shares. Meta Materials : Dr. Hai Sun Joins META as Director of Lithography Manufacturing and Opera.. Meta Materials : Appoints Darren Ihmels as Vice President of Business Development Ophthalm.. Meta Materials Inc. : Other Events, Financial Statements and Exhibits (form 8-K). After markets closed Thursday, the company released its initial earnings statement and shareholder letter. Accordingly, readers should not place undue reliance on any forward-looking statements or information. 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 includes forward-looking information or statements within the meaning of Canadian securities laws and within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, regarding the Company, which may include, but are not limited to, plans, and the timing, for the disposition or spinout of the Company's oil and gas assets, statements with respect to the business strategies, product development, expansion plans and operational activities of the Company . Such statements are based on the current expectations and views of future events of the management of the Company and are based on assumptions and subject to risks and uncertainties. Accordingly, readers should not place undue reliance on any forward-looking statements or information. 2023 Meta Materials Inc. All rights reserved. The net loss per share in the June quarter was $0.03, based on 197.9 million weighted average shares. Follow me on this journey to success and profits. View dividend data for Meta Materials (MMAT) including upcoming dividends, historical dividends, ex-dividend dates, payment dates, historical dividend yields, projected dividends and dividend changes (increases and decreases). On the date of publication, Thomas Niel did not have (either directly or indirectly) any positions in the securities mentioned in this article. Theres plenty here that could excite investors once again. Mr. Bradford has served in the roles of Director and VP of Drilling and Completions for Eclipse Resources and Montage Resources. He previously worked at Chesapeake Energy holding various positions including Senior Operations Engineer and Asset Manager of the Appalachian North and Utica Business Units. Copyright Copyright 2023 Surperformance. Reddit and its partners use cookies and similar technologies to provide you with a better experience. For now? While management has based any forward-looking statements included in this release on its current expectations, the information on which such expectations were based may change. The merger also resulted in leadership changes for the two companies. Holders of Torchlights Series A preferred shares have been promised a special dividend when the oil and gas assets are sold. 1125 N. Charles St, Baltimore, MD 21201. Email: ir@metamaterial.com. Retail traders flocked into the former TRCH stock last month in the weeks leading up to the deal close. The 1 for 2 ratio represents the lowest amount Torchlight may implement under the 1-20 range that was previously approved by the stockholders. Shares have plenty more room to tumble as meme stock investors continue to head for the exits. Read More:Penny Stocks How to Profit Without Getting Scammed. The discrepancy appears to be a misunderstanding of what the SEC data is telling investors. This press release includes forward-looking information or statements within the meaning of Canadian securities laws and within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, regarding the Company, which may include, but are not limited to, statements with respect to the plans regarding METAs oil and gas assets and its operations. In conjunction with the release of Q3 and nine-month 2021 financial results on October 15, 2021, META providedan updateon the Companys oil and gas assets and operations. MMAT MMTLP Metamaterials Special Dividend update. The ex-dividend date of this dividend is Friday, March 3rd. Find the latest dividend history for Meta Materials Inc. Common Stock (MMAT) at Nasdaq.com. Those who got in near or at its split-adjusted high of $10.88 per share? Some WallStreetBets commenters appear to be adding all the FTDs over the entire 11-year life of Torchlight Energy to get the higher total. HALIFAX, NS / ACCESSWIRE / December 3, 2021 / Meta Materials Inc. (the "Company" or "META") (NASDAQ:MMAT, FSE:MMAT) a developer of high-performance functional materials and nanocomposites, today provided an update on the special Series A Preferred Stock dividend in relationship to the oil and gas assets and the planned sale or spinout of these assets for the benefit of the Series A preferred . 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. If you're new to stock investing, here's how to buy Meta Materials stock. Often but not always, forward-looking information can be identified by the use of words such as pursuing, potential, predicts, projects, seeks, plans, expect, intends, anticipated, believes or variations (including negative variations) of such words and phrases, or statements that certain actions, events or results may, could, should, would or will be taken, occur or be achieved. He earned his law degree from Georgetown Law, in Washington D.C. Delvina Oelkers 13 Years Experience. Once we see further progress, that is. MMAT stock was down 19% as of Monday morning. For additional information on Torchlight, please visit www.torchlightenergy.com. I don't believe George will respond but if he does investors will appreciate it. Follow me on this journey to success and profits. This debt is secured in part by Greg McCabe, former Chairman of Torchlight Energy Resources, and a holder of a plurality of the shares of the Series A Preferred Stock. I look forward to working with the management of Meta Materials Inc. to ensure a smooth transition.". 2023 InvestorPlace Media, LLC. Senior Vice President 5 BIG Questions for George. You can also ask questions, receive trading tips, and have your portfolio reviewed as well as getting access to our successful Million Dollar Challenge. MMAT MMTLP Metamaterials Special Dividend. On the date of publication, William Whitedid not have (either directly or indirectly) any positions in the securities mentioned in this article. Please do your own due diligence and invest at your own risk as I am not a financial adviser.Like and Subscribe for more videos covering new stocks inn order to improve your trading strategy. In marketing, brand loyalty indicates consumers commitment to ALSO READ: Goldman Sachs Says Buy 3 Sizzling Stocks Now With Up to 150% Upside Potential. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Except as otherwise required by the federal securities laws, we disclaim any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in our expectations with regard thereto, or any change in events, conditions, or circumstances on which any such statement is based. ContactDerek GradwellPhone: 512-270-6990[emailprotected][emailprotected]. Our 3 Top Picks, Stay Away From LCID Stock Before Tesla Kills It. Nasdaq As an Asset Manager at Eclipse Resources, she was responsible for leading the multidisciplinary team to prove-up the asset. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. Automotive Solutions from Meta Materials Featured in Project Arrow At CES 2023, Meta Materials Inc. to Showcase Global Technology Collaborations at CES 2023, President, Chief Executive Officer & Director. May be able to turn its technology into high levels of growth in the weeks leading up 800... Information on Torchlight, please visit www.torchlightenergy.com working with the lease obligations its sell-off likely! Multi-Stack pay zone, totaling up to 800 feet thick, with on short.... Traders active online acquired, managed, and/or sold thousands of royalty acres and working interests in the Years. Do n't believe George will respond but if he does investors will appreciate it date made and/or sold of... 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