Special Dividend Announcement
$Torchlight Energy Resources Inc(TRCH.US$
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). 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. The Arrangement with Metamaterial, Inc. is expected to close before the end of June.
https://finance.yahoo.com/news/torchlight-declares-special-dividend-series-203000691.html
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). 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. The Arrangement with Metamaterial, Inc. is expected to close before the end of June.
https://finance.yahoo.com/news/torchlight-declares-special-dividend-series-203000691.html
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silentcyfer OP : Btw... $METAMATERIAL EXCHANGECO INC (MMATF.US)$ is trading at $7.20 now, expect to increase further later once market opens... so u do the math on the value of the dividend released
102536245 silentcyfer OP : What do you mean
Alvin Lee SM silentcyfer OP : Don’t know how to count zzzz
silentcyfer OP : alamak... serious boh... for every share of TRCH u currently hold now... you're entitled another stock free 1:1... so if u holding 1000 shares now, u get another free 1000 shares after dispersal
Silversouls silentcyfer OP : When will the dividend be given out?
JHJJ8 silentcyfer OP : you get another 1000 shares of Preferred Stock for the special dividends which nobody knows will be worth how much per share
JHJJ8 silentcyfer OP : Preferred Stocks are NOT the same as the stocks you are buying now
silentcyfer OP Silversouls : Ex Date is between 22-24 June this week. According to the article, the resolution should be done by end June. payout will be in the weeks to come usually. but as long as you are holding the shares during the qualifying period, you will receive the shares. anyway no hurry to sell yeah
blizzshot silentcyfer OP : no la not 1:1 . u read news. Each share of trch you get 25% and 75% for metamaterial
silentcyfer OP JHJJ8 : yes its not technically the same but since its a merger, it is fair to use the current trading prices of both companies as a comparison benchmark to make a logical estimation. in any case, even if the preferred stocks have a value of $1 upon release, it will ultimately be affected by the trading value of $METAMATERIAL EXCHANGECO INC (MMATF.US)$
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