All rights reserved. But since the transaction completed on June 28, the oil and gas explorer turned advanced materials play has seen a big slide. Email:[emailprotected]. 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.. Rob StoneVice President, Corporate Development and CommunicationsMeta Materials Inc. Mark KomonoskiSenior Vice PresidentIntegrous CommunicationsPhone: 1-877-255-8483Email:[emailprotected], Meta Materials Inc. Before you run out and buy this stock, keep in mind its many years away from coming even close to this level of success. Copyright 2023 Surperformance. Heres what the data means, according to the SEC: Fails to deliver on a given day are a cumulative number of all fails outstanding until that day, plus new fails that occur that day, less fails that settle that day. 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 represents a $2.64 dividend on an annualized basis and a dividend yield of 0.73%. THE ARRANGEMENT AGREEMENT WITH METAMATERIAL, INC. 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. It all happens at the free AI Super Summit. Two Wall Street Legends will reveal their #1 recommendations and full "roadmap" for navigating the coming AI revolution. Next Bridge Hydrocarbons is developing its Orogrande Project, in the Permian Basin in West Texas, USA. Holders of Torchlights Series A preferred shares have been promised a special dividend when the oil and gas assets are sold. 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 : 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). I have over 20 years experience as a lecturer in business, accounting, economics and law. By utilizing innovative technologies in design, the first exploratory well produced 35% higher than type curve. After markets closed Thursday, the company released its initial earnings statement and shareholder letter. Watch till the end as I try to include a short Trading Lesson to increase your knowledge, reduce your risk and improve your strategyI have over 20 years experience as a lecturer in business, accounting, economics and law. For further details and to join please visit:https://www.patreon.com/TradingSecretsJoin our Million Dollar Challenge. Learn more atwww.metamaterial.com. 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. 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. O'Melveny Advises Next Bridge Hydrocarbons in Spin-Off Transaction from Its Publicly-Tr.. Sure, as InvestorPlaces Alex Sirois recently detailed, it has $160 million in cash, and nearly zero debt, following the merger. 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. MMAT MMTLP Metamaterials Special Dividend update. 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. Mr. Rader is an engineer and manager in completion and production operations and has experience in Texas, Oklahoma, and the Appalachia. 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. Learn more atwww.metamaterial.com. -, Wall Street Set to Open Lower as Inflation Data Concerns Investors, Meta Materials Wins New Purchase Order From G10 Central Bank Customer, Meta Materials Inc. Plans Global Commercial Launch of its Unique, Metamaterial Nano-Optic Technology, KolourOptik, https://www.accesswire.com/676024/META-Provides-Update-on-the-Special-Series-A-Preferred-Stock-Dividend. For additional information on Torchlight, please visit www.torchlightenergy.com. Meta reported $72.8 million in such assets, compared with none at the end of the first quarter. 2023 Meta Materials Inc. All rights reserved. When the spinout is completed, holders of Series A preferred shares will exchange their preferred shares pro rata for the OilCo common shares. 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. Email: ir@metamaterial.com. Torchlight reported no proved reserves as of December 31. Vice President, Corporate Development and Communications In this video I will address 5 BIG Questions for George as the vast majority of investors are angry and wou. 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. 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. You can even use them to improve solar panel efficiency. 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. The next steps in the spinout include, but are not limited to, (i) formal transfer of the assets through a contribution of certain subsidiaries that own the oil and gas assets to OilCo Holdings, Inc. (the OilCo), a newly formed wholly owned subsidiary of META, (ii) ensuring that the OilCo capital structure supports a spinout and, (iii) making any necessary filings with the SEC. 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. Email:[emailprotected]. Traders who got in at the start of the squeeze may have been able to cash out for fast profits near the top. All rights reserved. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Sponsored: Find a Qualified Financial Advisor. Even after its sell-off, the company sports a market capitalization of around $1.1 billion. Total oil and gas sales last year amounted to $193,379. 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. The 1 for 2 ratio represents the lowest amount Torchlight may implement under the 1-20 range that was previously approved by the stockholders. 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. 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. 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. It all happens at the free AI Super Summit. Over the past month, its fallen from around $10 to less than $4 per share. History; The Team; Investment; Label Solutions Is Meta Materials's dividend stable? Our achievements have been widely recognized, including being named a Lux Research Innovator of the Year in 2021. Our nano-optic technology provides anti-counterfeiting security features for government documents and currencies and authentication for brands. Phone: 1-877-255-8483 MMAT MMTLP Metamaterials Special Dividend. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Valor is a mineral and working interest management firm which uses a proprietary software platform owned and developed by Mineral Tech. Heres everything investors interested in MMAT stock need to know after the merger. You will get early access to the daily stock alerts and also the weekly watchlist. It also announced plans for the merger of the company to close today. 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. 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. Electro Optical & Infrared Systems (EO/IR). Completion of this work will, the Company believes, enable us to move to the next steps in the spinout process for these assets. 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. Even when adjusting for these assets, however, this valuation remains out of whack with its current underlying value. Martin Marietta Materials, Inc. (NYSE:MLM) announced a quarterly dividend on Friday, February 24th. 5 BIG Questions for George. What is Meta Materials's Dividend Payment Date? End-of-day quote Nasdaq But now, that trends come and gone once again. All rights reserved. Reddits r/wallstreetbets subreddit, r/MMAT, is littered with comments related to short sellers failure to deliver (FTD) contracts. 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. To less than $ 4 per share the design and execution of the first world-record-setting Purple Hayes 1H.! Deliver ( FTD ) contracts our Million Dollar Challenge firm which uses a software... 1 recommendations and full `` roadmap '' for navigating the coming AI revolution experience as lecturer... 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