We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. 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). The ex-dividend date of this dividend is Friday, March 3rd. She led operations team through several successful M&A transactions. 36 votes, 18 comments. Two Wall Street Legends will reveal their #1 recommendations and full "roadmap" for navigating the coming AI revolution. Sponsored: Find a Qualified Financial Advisor. 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. All rights reserved. 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. Commencing on June 28, 2021 Torchlight's name will be changed to 'Meta Materials Inc.' and its common stock will begin trading on NASDAQ under the ticker symbol 'MMAT.'. By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. The merger also resulted in leadership changes for the two companies. As of this writing, more than 12 million shares of the stock have changed hands. On the date of publication, Thomas Niel did not have (either directly or indirectly) any positions in the securities mentioned in this article. 2023 InvestorPlace Media, LLC. 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. Mostly, its potential as a short-squeeze play. Accordingly, readers should not place undue reliance on any forward-looking statements or information. I have over 20 years experience as a lecturer in business, accounting, economics and law. Even after its sell-off, the company sports a market capitalization of around $1.1 billion. 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. Email:[emailprotected]. The company had sold its last reserves in November. This team is continuing to consult for the Company by providing operational advice on the drilling and development of the wells for the Orogrande project. How High Can the Supreme Court Take SOFI Stock? Torchlight reported no proved reserves as of December 31. Holders of Torchlights Series A preferred shares have been promised a special dividend when the oil and gas assets are sold. 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 sell-off will likely carry on, at least until its past meme stock status fully goes away. meta materials special dividend The net loss per share in the June quarter was $0.03, based on 197.9 million weighted average shares. 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. 1125 N. Charles St, Baltimore, MD 21201. Torchlight also announced that it implemented a 1 for 2 reverse stock split of its Common Stock. You will get early access to the daily stock alerts and also the weekly watchlist. As you likely know, last month saw a mad dash into heavily shorted stocks, as retail traders tried to get in early on the next AMC Entertainment (NYSE:AMC) or GameStop (NYSE:GME). Assuming that the company formerly known as Metamaterials would have reported no or few assets held for sale, the bulk of the assets would have had to come from Torchlight Energy. In conjunction with the release of Q3 and nine-month 2021 financial results on October 15, 2021, META provided an update on the Company's oil and gas assets and operations. Commencing on June 28, 2021 Torchlight's name will be changed to "Meta Materials Inc." and its common stock will begin trading on NASDAQ under the ticker symbol "MMAT.". I look forward to working with the management of Meta Materials Inc. to ensure a smooth transition.'. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Company, its oil and gas assets and operations, and managements ability to manage and to operate the business. Integrous Communications SOURCE: Torchlight Energy Resources, Inc. For investors, the most interesting part of the report might have been the line captioned Assets Held for Sale. Even when adjusting for these assets, however, this valuation remains out of whack with its current underlying value. Check out Meta Materials most recent investor presentationand excitement over its long-term prospects makes sense. 19.0k members in the MMAT community. 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 . 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. 5 Investors Still Betting Big on Novavax (NVAX) Stock. If youre ready to be matched with local advisors that can help you achieve your financial goals, get started now. After the Torchlight Merger, Wait and See With Meta Materials Stock, Penny Stocks How to Profit Without Getting Scammed, 5 Hypergrowth Stocks With 10X Potential in 2023, 7 of the Best Contrarian Stocks to Buy as Others Get Greedy, producing a non-invasive glucose sensing system, $160 million in cash, and nearly zero debt, 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, What Is the Best Growth Stock to Buy Now? '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. Torchlight also announced that it implemented a 1 for 2 reverse stock split of its Common Stock. Rob StoneVice President, Corporate Development and CommunicationsMeta Materials Inc.[emailprotected], Mark KomonoskiSenior Vice PresidentIntegrous CommunicationsPhone: 1-877-255-8483Email:[emailprotected], Meta Materials Inc. 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. I look forward to working with the management of Meta Materials Inc. to ensure a smooth transition.". Even after its sell-off, the company sports a market capitalization of around $1.1 billion. Meta closed the second quarter with cash and equivalents totaling $154.63 million and long-term debt of $2.74 million. Although the management of the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand thatInvestorPlace.comswriters disclose this fact and warn readers of the risks. This may end up being a big winner down the road. If Meta Materials is pricey now, whats a reasonable valuation? Yet, there is a plethora of possible end users for its advanced materials, known as metamaterials. Product sales amounted to $1.95 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. Mativ Holdings, Inc. (NYSE:MATV) declared a quarterly dividend on Friday, February 24th. On Penny Stocks and Low-Volume Stocks:With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Company, including, but not limited to, the ability of the Company's management to focus on the disposition or spinout of the oil and gas assets, the capabilities of our facilities and the expansion thereof, research and development projects of the Company, the market potential of the products of the Company , the market position of the Company, the scalability of the Company's production ability, capacity for new customer engagements, material selection programs timeframes, the ability to reduce production costs, enhance metamaterials manufacturing capabilities and extend market reach into new applications and industries, the ability to accelerate commercialization plans, the possibility of new customer contracts, the continued engagement of our employees, the technology industry, market strategic and operational activities, and management's ability to manage and to operate the business not related to the oil and gas assets. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand thatInvestorPlace.comswriters disclose this fact and warn readers of the risks. No forward-looking statement can be guaranteed. 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 Companys oil and gas assets, statements with respect to the business strategies, product development, expansion plans and operational activities of the Company . My toughest video so far. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines. That includes new executives taking on roles as well as changes to the Board of Directors. No forward-looking statement can be guaranteed. Hold off, as its sell-off is likely far from over. We urge you to consider those risks and uncertainties in evaluating our 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. Press J to jump to the feed. All rights reserved. She designed completions for the Eclipse Resources Super Lateral Program, including the design and execution of the first world-record-setting Purple Hayes 1H Well. 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'). Kyle Bradford 20 Years Experience. Completion of this work will, the Company believes, enable us to move to the next steps in the spinout process for these assets. RISK FACTORS . META delivers previously unachievable performance, across a range of applications, by inventing, designing, developing, and manufacturing sustainable, highly functional materials. Our extensive technology platform enables leading global brands to deliver breakthrough products to their customers in . 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. For further details and to join please visit:https://www.patreon.com/TradingSecretsJoin our Million Dollar Challenge. Meta Materials Inc. published this content on 03 December 2021 and is solely responsible for the information contained therein. Completion of this work will, the Company believes, enable us to move to the next steps in the spinout process for these assets. META is in the process of finalizing permanent arrangements with a completely new management team for OilCo who bring significant experience in oil and gas exploration as well as specific experience in the Orogrande region. Heres everything investors interested in MMAT stock need to know after the merger. Forward-Looking StatementThis 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. 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 . MMAT News. Copyright Theres even room for more lines. Mr. Bradford has served in the roles of Director and VP of Drilling and Completions for Eclipse Resources and Montage Resources. To ensure a smooth transition. `` the stock have changed hands that Can help you your. 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