Torchlight Energy Resources (NASDAQ: TRCH), an oil and gas exploration company based in Plano, Texas, has closed on its previously announced business combination with Meta Materials Inc. As a result, after market close today, Torchlight’s name will be changed to Meta Materials Inc. In addition, the company’s common stock will begin trading on NASDAQ under the ticker symbol MMAT. According to the previous announcement, prior to the implementation of the reverse stock split, Meta Materials (NASDAQ: MMAT) shareholders were expected to receive 3.690 shares of Torchlight common stock in exchange for each of their shares of Metamaterial Inc., resulting in Meta Material shareholders owning approximately 75% of the resulting post-merger company. Torchlight’s current portfolio includes assets focused in West and Central Texas where targets are established plays such as the Permian Basin. Roth Capital Partners acted as financial advisor to Torchlight related to this business combination.
To view the full press release, visit https://ibn.fm/IDSax
About Meta Materials Inc.
META delivers previously unachievable performance, across a range of applications, by inventing, designing, developing and manufacturing sustainable, highly functional materials. The company’s 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. META’s achievements have been widely recognized, including being named a Global Cleantech 100 company. For more information, visit www.Metamaterial.com
InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent. We offer UNLIMITED Words on all domestic releases. While other wire services may provide a basic review of your release, InvestorWire helps you put your best foot forward with complimentary Press Release Enhancement.
With our competitors, the work is done the second your release crosses the wire. Not with InvestorWire. We include follow-up coverage of every release by leveraging the ever-expanding audiences of the 50+ brands that make up the InvestorBrandNetwork.
Get more out of your next press release with InvestorWire. It’s unlike anything you’ve seen before.
For more information, please visit https://www.InvestorWire.com
InvestorWire is part of the InvestorBrandNetwork.