TRCH - Torchlight updates business combination timing

Torchlight Energy Resources (TRCH) trades 9% down premarket after it announced that it is continuing to work towards the completion of the regulatory requirements necessary to close the earlier announced business combination with Metamaterial.Both the companies have extended the date by which Torchlight must give notice of and call its special meeting of stockholders to Apr. 30 which will provide enough time to clear the definitive proxy statement with the SEC.The statement will announce the meeting date and record date for the special meeting which will also determine the date on which Torchlight stockholders will receive a dividend of the previously announced Series A Preferred Stock.

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Torchlight updates business combination timing