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. Reddit and its partners use cookies and similar technologies to provide you with a better experience. Nasdaq Kyle Bradford 20 Years Experience. 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. Torchlight reported no proved reserves as of December 31. Our extensive technology platform enables leading global brands to deliver breakthrough products to their customers in consumer electronics, 5G communications, health and wellness, aerospace, automotive, and clean energy. Once we see further progress, that is. As of this writing, more than 12 million shares of the stock have changed hands. Our achievements have been widely recognized, including being named a Lux Research Innovator of the Year in 2021. The purpose of each video will be to boost your potential gains in the stock market. The company closed its merger with Torchlight Energy Resources. For further details and to join please visit:https://www.patreon.com/TradingSecretsJoin our Million Dollar Challenge. By utilizing innovative technologies in design, the first exploratory well produced 35% higher than type curve. 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. Plus 3 Stocks for March.It would be very much appreciate. 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. RISK FACTORS . All rights reserved. "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. 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. 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. MMAT stock remains inflated. With only the rarest exceptions,InvestorPlacedoes not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. We expect to provide additional updates upon completion of the drilling operations. Even after its sell-off, the company sports a market capitalization of around $1.1 billion. -, Meta Materials : Dr. Hai Sun Joins META as Director of Lithography Manufacturing and Operations, Meta Materials : Appoints Darren Ihmels as Vice President of Business Development Ophthalmics (Form 8-K). The preferred shares were issued on a one-for-one basis to Torchlight shareholders of record on June 24. Follow me on this journey to success and profits. Its biggest area of opportunity is a diabetes management product targeting a multi-billion dollar market. 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 assets or proceeds therefrom are transferred as rapidly as possible to the Series A Preferred stockholders. Should the OilCo spinout be consummated, the team will be evaluated for commensurate employment packages subject to all necessary approvals. Meta Materials (NASDAQ: MMAT) does not pay a dividend. 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%. Twitter: @TradingSecrets7Hit that notification bell and subscribe for early updates to every video so you never miss out. That includes a Board expansion to include seven additional members. Press question mark to learn the rest of the keyboard shortcuts. Follow me on this journey to success and profits. 60 Highfield Park Dr, Dartmouth, NS B3A 4R9 Canada, Tel: 1-902-482-5729 The OilCo will also need to secure additional short-term financing, and the Company is exploring multiple options for this financing. Our extensive technology platform enables leading global brands to deliver breakthrough products to their customers in consumer electronics, 5G communications, health and wellness, aerospace, automotive, and clean energy. 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. Copyright 2023 InvestorPlace Media, LLC. Business enquiries: newtradingsecrets@gmail.comMMAT MMTLP Metamaterials New Special Dividend Rumour. I look forward to working with the management of Meta Materials Inc. to ensure a smooth transition.'. Rob StoneVice President, Corporate Development and CommunicationsMeta Materials Inc. Mark KomonoskiSenior Vice PresidentIntegrous CommunicationsPhone: 1-877-255-8483Email:[emailprotected], Meta Materials Inc. "We plan to continue our efforts related to our asset divestiture to provide a positive outcome for Preferred A Stockholders as well as entering this new chapter for the combined Company. MMAT News. Those who got in near or at its split-adjusted high of $10.88 per share? Our extensive technology platform enables leading global brands to deliver breakthrough products to their customers in consumer electronics, 5G communications, health and wellness, aerospace, automotive, and clean energy. You can even use them to improve solar panel efficiency. Distributed by Public, unedited and unaltered, on 03 December 2021 20:21:09 UTC. The ex-dividend date of this dividend is Monday, March 6th. The company had sold its last reserves in November. 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 1 for 2 ratio represents the lowest amount Torchlight may implement under the 1-20 range that was previously approved by the stockholders. Phone: 1-877-255-8483 No forward-looking statement can be guaranteed. Learn more at www.metamaterial.com. 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. quotes delayed at least 15 minutes, all others at least 20 minutes. Theres plenty here that could excite investors once again. Therein lies the problem. MMAT MMTLP Metamaterials Special Dividend update. 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. Torchlight also announced that it implemented a 1 for 2 reverse stock split of its Common Stock. For additional information on Torchlight, please visit www.torchlightenergy.com. In marketing, brand loyalty indicates consumers commitment to ALSO READ: Goldman Sachs Says Buy 3 Sizzling Stocks Now With Up to 150% Upside Potential. 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. 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. 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. I have over 20 years experience as a lecturer in business, accounting, economics and law. 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. Others are likely holding the bag, hoping for a recovery. More details about these and other risks that may impact the Company's businesses are described under the heading "Forward-Looking Information" and under the heading "Risk Factors" in the Company's Form 10-Q filed with the SEC on November 15, 2021, in the Company's 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 SEC's website at www.sec.gov. In order to complete the spinout, the Company must complete an audit of the oil and gas operations. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.02%. It also announced plans for the merger of the company to close today. Meta Materials : ARfusion - Solving the Challenges of Fashionable, Functional AR .. Meta Materials : Joins Stanford University SystemX Alliance Affiliates Program, Meta Materials : to Present at Access to Giving Virtual Investor Conference on July 15th, Meta Materials : to Hold Corporate Update Webcast at 1 PM EDT Today. 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. Thomas Niel, a contributor for InvestorPlace.com, has been writing single-stock analysis for web-based publications since 2016. 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. Mr. Rader is an engineer and manager in completion and production operations and has experience in Texas, Oklahoma, and the Appalachia. He co-founded Valor Mineral Management and Mineral Tech. He earned his law degree from Georgetown Law, in Washington D.C. Delvina Oelkers 13 Years Experience. SmartAssets free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. In this video I will address 5 BIG Questions for George as the vast majority of investors are angry and wou. 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. It looks like you aren't allowed to do that. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. META delivers previously unachievable performance, across a range of applications, by inventing, designing, developing, and manufacturing sustainable, highly functional materials. 36 votes, 18 comments. It also has legacy oil and gas assets its intending to sell. This points to the stock having plenty of room to fall before its no longer overvalued. Copyright 2023 InvestorPlace Media, LLC. You can take a look at all of these stories at the links below! Martin Marietta Materials, Inc. (NYSE:MLM) announced a quarterly dividend on Friday, February 24th. 1125 N. Charles St, Baltimore, MD 21201. 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. 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 Companys 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 Companys 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 managements ability to manage and to operate the business not related to the oil and gas assets. 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 . Although the management of the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. There can be no assurance that the OilCo will be successful in securing necessary financing or that expenses incurred to date will be repaid to META. Completion of this work will, the Company believes, enable us to move to the next steps in the spinout process for these assets. 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. Welcome to the original "Meta-Verse", r/MMAT, a place where Meta Materials Inc Distributed by Public, unedited and unaltered, on 29 June 2021 21:33:54 UTC. Completion of this work will, the Company believes, enable us to move to the next steps in the spinout process for these assets. About Torchlight Energy Resources, Inc.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 makes it the first company to join the Nasdaq with a focus on creating these materials. What is Meta Materials's Dividend Payment Date? Torchlight also announced that it implemented a 1 for 2 reverse stock split of its Common Stock. Some WallStreetBets commenters appear to be adding all the FTDs over the entire 11-year life of Torchlight Energy to get the higher total. 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