

All statements in this release that are not based on historical fact are 'forward looking statements.' These statements may be identified by words such as 'estimates,' 'anticipates,' 'projects,' 'plans,' 'strategy,' 'goal,' or 'planned,' 'seeks,' 'may,' 'might', 'will,' 'expects,' 'intends,' 'believes,' 'should,' and similar expressions, or the negative versions thereof, and which also may be identified by their context. 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. 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. as of Monday morning) for each share of Metamaterial Inc., to reflect the reverse split impact on total outstanding shares of Torchlight. 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. shareholders owning approximately 75% of the resulting post-merger company, Meta Materials Inc, subject to financings prior to the closing of the business combination. This exchange ratio was planned to result in the Metamaterial Inc. shareholders would receive 3.690 shares of Torchlight common stock in exchange for each of their shares of Metamaterial. Prior to the implementation of the reverse stock split, it was expected that Metamaterial, Inc. Commencing on JTorchlight's name will be changed to "Meta Materials Inc." and its common stock will begin trading on NASDAQ under the ticker symbol "MMAT." were completed on Jand therefore Torchlight expects that the business combination will be effective on Jas of 12:01 AM EDT. Torchlight also announced that the steps necessary to close the business combination with Metamaterial Inc. The 1 for 2 ratio represents the lowest amount Torchlight may implement under the 1-20 range that was previously approved by the stockholders. 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 also announced that it implemented a 1 for 2 reverse stock split of its Common Stock.
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(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. The company produced 28 barrels of oil and 711,000 cubic feet of gas with total sales of $2,471 in the quarter to March 30.PLANO, TX / ACCESSWIRE / J/ Torchlight Energy Resources, Inc. Torchlight, which had a net loss of $2.1 million in the first three months of this year, has warned repeatedly that it had substantial doubt about its ability to continue as a going concern.

In November 2010, Pole Perfect bought Torchlight Energy and abandoned all of its previous business plans within the health and fitness industries before formally changing its name to Torchlight in 2011. The Plano, Texas-based company traces its roots back to Pole Perfect, incorporated in 2007 in Nevada to develop and market feminine fitness dance studios utilizing the advantages of pole dancing. Torchlight was also the second top-traded stock on Tuesday, with shares changing hands more than 213 million times. The company is being acquired by industrial materials maker Metamaterial Inc (MMAT.CD) in a deal that analysts said will likely see its main business being sold or hived off.
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