#TORCHLIGHT STOCKS PRO#

For additional information on Torchlight, please visit Forward-Looking Statement Torchlight has assets focused in West and Central Texas where their targets are established plays such as the Permian Basin. (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. is expected to close before the end of June.

#TORCHLIGHT STOCKS PRO#

Holders of Series A Preferred Stock will be entitled, on a pro rata basis, to any future net proceeds or other potential benefits derived from the disposition of the oil and gas assets of Torchlight, subject to certain holdbacks. Stockholders of record on June 24, 2021, will be entitled to receive the dividend which will consist of one share of Series A Preferred Stock for each one share of common stock owned on that date (subject to adjustment for any reverse split of Torchlight's common stock after the record date but before the dividend is paid). This Special Dividend is to be issued in connection with the previously announced business combination transaction with Metamaterial, Inc. (NASDAQ:TRCH), an oil and gas exploration company ('Torchlight'), today announced that it has declared a Special Dividend of Series A Preferred Stock to be issued on a one-for-one basis to Common Stockholders of Record as of the close of market trading on J(subject to adjustment for any reverse split of Torchlight's common stock after the record date but before the dividend is paid). Torchlight shares climbed 23 cents mid-morning Friday, or 4.8%, to $4.98.PLANO, TX / ACCESSWIRE / J/ Torchlight Energy Resources, Inc. And certainty could definitely be a good thing for TRCH investors right now. With the deal expected to close at the end of the month, investors now have certainty with this deal. Additionally, the company confirmed that its preferred dividend will be paid out on June 25. Torchlight announced earlier this week the company is extending its merger combination date to June 30. At least, according to what the market believes it’s worth. TRCH is likely trading where it should be.

Without this $1-$20 extraneous valuation bump, Thus, most of the recent volatility investors have seen in TRCH is related to this company trading ex-dividend the past few days. That said, a massive range of between $1 per share and $20 per share has been discussed. The range of what this dividend could be appears to be still up in the air. This dividend will be paid out to shareholders of record, as of June 22.

This combination of meme stock hysteria and merger excitement helped drive this stock in recent weeks.Īdditionally, as a result of the merger, Torchlight announced investors will receive a special dividend of its Series A Preferred Stock. Indeed, retail investors have jumped on this stock prior to the announcement, spurring additional interest in Torchlight. Shareholders approved the deal on June 11, and Torchlight is set to become a much larger entity in short order as a result. The company’s highly touted merger with Metamaterial has driven most of the excitement in this stock. And many of the reasons for this volatility appear to still exist, painting a rather interesting picture for how this stock will perform over the near term. However, this kind of volatility is stomach-churning. Now, investors who have held through this uncertainty are still up.

Shares went from around $3.50 to nearly $11, falling back down to the $5 level of late. Since mid-June, shares of TRCH stock have been on an absolute rollercoaster ride. Torchlight Energy (NASDAQ:TRCH) has taken its investors on a wild ride over the last little while, but Friday, the ride pointed skyward.

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