#TORCHLIGHT ENERGY MERGER FREE#
#TORCHLIGHT ENERGY MERGER WINDOWS#

The company listed on the alternate Canadian Stock Exchange in March, and Palikaras said it will have a dual listing following the merger on both the Nasdaq and the CSE.

#TORCHLIGHT ENERGY MERGER WINDOWS#

The company is best known for its metaAIR venture with Airbus, which is producing a transparent covering for airplane cockpit windows that can filter out laser attacks. Metamaterial is a specialist in producing metamaterials – materials comprising compounds not found in nature – that alter light, either by magnifying, repelling or filtering it. “There is a shift happening right now in the marketplace and companies like Meta that are focusing on sustainable technologies are coming in at the right time.” “I’m excited that an oil and gas company will divest its existing assets and look to a business like ours,” George Palikaras, who will retain his titles of Metamaterial President and CEO, said in an interview. As part of the deal, Torchlight will sell off its oil and gas assets, and use the proceeds to pay a special dividend to its existing shareholders.

The merged company will retain the Metamaterial name, management, business model, and will be headquartered in Dartmouth. The Dartmouth company, which makes products from manmade substances that alter light, said Monday it has signed a letter of intent to merge with Plano, Texas-based oil and gas producer Torchlight Energy Resources. has agreed to merge with an American company that will provide it with a listing on the Nasdaq stock exchange and at least US$10 million (C$13.3 million) in new financing.

#TORCHLIGHT ENERGY MERGER FREE#

See the pulse of the market as researched by Wall Street Elites and receive top-trending tickers and other market intelligence to inform your trades.Sign up for Wall Street Connected – our free daily newsletter that leverages our TrackstarIQ Data.Metamaterial Inc. Top-trending tickers, market-moving news alerts: Straight in your inbox! So don’t assume just because we’re near recent highs the run is finished. Looking at the XOP ETF as a proxy, we can see the companies are still valued well below 2018-2019. If you think oil prices stay here or head higher, this sector is a great place to invest. Investing in the oil and gas exploration sector comes down to your outlook on the industry. The current price-to-earnings ratio of 22.5x isn’t too expensive, but the forward valuation of 10.2x looks rather tasty. While the company carries a serious amount of debt, they maintained positive earnings every year for the last decade except 2015-2016. One of the best in the sector is Cabot Oil & Gas ( COG). Storied brands like ConocoPhillips ( COP), Marathon Oil ( MRO), and the like will do just fine.Īnd if you don’t want to get too far into the details, the SPDR Oil & Gas E&P ETF XOP is a great way to play the sector.

Look, if you want to get into the E&P space, this certainly isn’t the way. Valuing the company means figuring out what the assets will sell for as well as the potential for the Metamaterial. The Torchlight Energy of today will be completely changed within a few years. Those proceeds funded a recent special dividend to shareholders. Yes, the company’s been in talks with several buyers to essentially dump its assets. listing.Īnd get this, following the merger, Torchlight plans to exit the exploration and production business altogether. Metamaterials, which makes advanced materials, will own 75% of the combined company with Torchlight owning 25%. Recently, Torchlight announced a merger with Metamaterial, giving 1 share of Metamaterial for 3.6 Torchlight shares.

Torchlight energy merger