After its reverse merger with Torchlight Energy, whats next for Meta Materials (NASDAQ:MMAT) stock? Although the management of the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. Copyright 2023 InvestorPlace Media, LLC. 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. Twitter: @TradingSecrets7Hit that notification bell and subscribe for early updates to every video so you never miss out. He has a proven track record of implementing technological advancements to reduce costs and increasing operational efficiencies. Email:[emailprotected]. Finding a qualified financial advisor doesnt have to be hard. If youre ready to be matched with local advisors that can help you achieve your financial goals, get started now. No forward-looking statement can be guaranteed. 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. TORCHLIGHT ANNOUNCES PAYMENT OF A SPECIAL SERIES A PREFERRED, STOCK DIVIDEND, A 1:2 REVERSE STOCK SPLIT AND PLANNED CLOSING OF. 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. 1125 N. Charles St, Baltimore, MD 21201. 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. Distributed by Public, unedited and unaltered, on 03 December 2021 20:21:09 UTC. 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. This will include membership of our Discord where I hope to build a community of traders to help each other increase wealth. 19.0k members in the MMAT community. There may be opportunity down the road with the now-named MMAT stock. 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. 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? 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. Lorem ipsum dolor sit amet, consectetur adipiscing elit. I have over 20 years experience as a lecturer in business, accounting, economics and law. It all happens at the free AI Super Summit. The company dealt with oil and gas exploration and production. After markets closed Thursday, the company released its initial earnings statement and shareholder letter. 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. Meta Materials (NASDAQ: MMAT) does not pay a dividend. 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. ContactDerek GradwellPhone: 512-270-6990[emailprotected][emailprotected]. Two Wall Street Legends will reveal their #1 recommendations and full "roadmap" for navigating the coming AI revolution. The preferred shares were issued on a one-for-one basis to Torchlight shareholders of record on June 24. But today, its still trading at inflated prices and has plenty more room to fall. Welcome to the original "Meta-Verse", r/MMAT, a place where Meta Materials Inc Theres even room for more lines. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. 2023 Meta Materials Inc. All rights reserved. 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. Completion of this work will, the Company believes, enable us to move to the next steps in the spinout process for these assets. 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. 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. The Orogrande Project has potential for multi-stack pay zone, totaling up to 800 feet thick, with . 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. There are 3 levels to choose from. 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. Copyright All rights reserved. SOURCE: Torchlight Energy Resources, Inc. Torchlight Energy Resources Inc. published this content on 29 June 2021 and is solely responsible for the information contained therein. Business enquiries: newtradingsecrets@gmail.comMMAT MMTLP Metamaterials New Special Dividend Rumour. 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. 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. Create an account to follow your favorite communities and start taking part in conversations. For further details and to join please visit:https://www.patreon.com/TradingSecretsJoin our Million Dollar Challenge. Reddits r/wallstreetbets subreddit, r/MMAT, is littered with comments related to short sellers failure to deliver (FTD) contracts. 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. Rob Stone The figure is not a daily amount of fails, but a combined figure that includes both new fails on the reporting day as well as existing fails. Delayed Nasdaq He is also an attorney, licensed to practice law in the State of Texas. 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. Sign up below to get this incredible offer! Our nano-optic technology provides anti-counterfeiting security features for government documents and currencies and authentication for brands. 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). Mr. Bradford has served in the roles of Director and VP of Drilling and Completions for Eclipse Resources and Montage Resources. 60 Highfield Park Dr, Dartmouth, NS B3A 4R9 Canada, Tel: 1-902-482-5729 Next Bridge Hydrocarbons is developing its Orogrande Project, in the Permian Basin in West Texas, USA. Learn more atwww.metamaterial.com. The Companys objective has been and remains to ensure that the intrinsic value of these assets is maintained for the benefit of the Series A preferred stockholders of META and that the OilCo is spun out as rapidly as possible for the benefit of the Series A preferred stockholders. There are 3 levels to choose from starting at just $9 per month. His career started at CNX Gas, and he holds a Bachelor of Science in Petroleum Engineering from Marietta College. 1 week ago - Meta Materials (MMAT) Stock Pops on New Purchase Order - InvestorPlace 1 week ago - Meta Materials Receives New Purchase Order from Its G10 Central Bank Customer - Accesswire 2 weeks ago - Top 5 Tech Stocks That Are Preparing To Pump In February - Blackbaud (NASDAQ:BLKB), PC Connection (NASDAQ:CNXN) - Benzinga 2 weeks ago - MMAT Stock Alert: Meta Materials Plans to Sell . META delivers previously unachievable performance, across a range of applications, by inventing, designing, developing, and manufacturing sustainable, highly functional materials. 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. According to the SECs fails-to-deliver data, as of July 14, the most recent date for which data is available, Metas FTDs total 180,798. 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. You can even use them to improve solar panel efficiency. Meta Materials Inc (OTCMKTS: MMTLP) is the placeholder for the Next Bridge Hydrocarbons Spin off from Meta Materials (Nasdaq: MMAT) 1 MMTLP will be exchanged for 1 Next Bridge common share. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Although the management of the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. With the completion of work on four wells in December 2021, the Company believes that META remains in compliance with all aspects of its lease obligations, including its obligations pertaining to the CDC (Continuous Drilling Clause) with University Lands on the Orogrande project. Our achievements have been widely recognized, including being named a Lux Research Innovator of the Year in 2021. Traders who got in at the start of the squeeze may have been able to cash out for fast profits near the top. Lorem ipsum dolor sit amet, consectetur adipiscing elit. 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. This has driven much of this stocks post-merger decline. Nasdaq MMAT MMTLP Metamaterials Special Dividend update. Our extensive technology platform enables leading global brands to deliver breakthrough products to their customers in . Daren Rader 16 Years Experience. MMAT stock was down 19% as of Monday morning . Since coming public in a June 28 reverse merger with Torchlight Energy, Meta Materials Inc. (NASDAQ: MMAT), a Canada-based company known as Metamaterials before the deal, the share price has plunged by nearly 58%. Retail traders flocked into the former TRCH stock last month in the weeks leading up to the deal close. 60 Highfield Park Dr, Dartmouth, NS B3A 4R9 Canada, Tel: 1-902-482-5729 He has successfully managed and led operations teams for Chesapeake Energy, Ascent Resources, and Montage Resources. Business enquiries: newtradingsecrets@gmail.comMMAT MMTLP Metamaterials New Special Dividend Rumour. That includes new executives taking on roles as well as changes to the Board of Directors. All rights reserved. So has another factor: the heavy issuance of new shares. Thats because these penny stocks are frequently the playground for scam artists and market manipulators. Twitter: @TradingSecrets7Hit that notification bell and subscribe for early updates to every video so you never miss out. Even when adjusting for these assets, however, this valuation remains out of whack with its current underlying value. This points to the stock having plenty of room to fall before its no longer overvalued. As part of our December update, the operations are well underway, and the drilling is on track for completion later this month. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. 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. As InvestorPlaces Chris MacDonald wrote July 6, Meta Materials is making progress in producing a non-invasive glucose sensing system. MMAT stock is interesting following its transformation from TRCH stock. META has been working diligently to complete the spinout of the OilCo, subject to compliance with all legal requirements and process approvals by all involved parties, including completion of the audit. The necessary audit and legal work related to the asset consolidation and spinout is expected to be completed in the coming months. News that the deal was at a close came on Friday from Torchlight Energy Resources. Electro Optical & Infrared Systems (EO/IR). It all happens at the free AI Super Summit. HALIFAX, NS / ACCESSWIRE / March 31, 2022 /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 which is now planned as a spinout of these assets and operations in a company that will be owned by the Companys Series A preferred stockholders. Got in at the free AI Super Summit our Discord where I hope to a... Not to place undue reliance upon any such forward-looking statements, which speak only as of Monday.... Has potential for multi-stack pay zone, totaling up to the stock having plenty of room fall. With its current underlying value security features for government documents and currencies and authentication for brands to law! 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