TRCH - Torchlight Energy Heads Towards A Merger With Metamaterial

• Torchlight is approaching its merger date with Metamaterial.
• Metamaterial's future is boosted by investor interest in its business, which should allow it to raise any funds it needs for expanding/supporting its operations.
• The payout for Torchlight's oil and gas assets is likely to disappoint investors who are expecting a significant ($1+) cash payout.
• The price acquirers are willing to pay for undeveloped assets remains lower than a few years ago, despite strong commodity prices.
• Shareholders will probably be better off with ownership of the oil and gas assets rather than a modest cash payout.

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