TORCHLIGHT ENERGY SERIES

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. I look forward to working with the management of Meta Materials Inc. 'We plan to continue our efforts related to our asset divestiture to provide a positive outcome for Preferred A Stockholders as well as entering this new chapter for the combined Company. for their long time support, enthusiasm and efforts in making this merger a success,' commented John Brda, Torchlight's Chief Executive Officer. 'I would like to take this opportunity to thank all of Torchlight's shareholders, its Board and the team at Metamaterial Inc. 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.

TORCHLIGHT ENERGY SERIES

(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 operates its business through its subsidiaries, including Torchlight Energy, Inc., Torchlight Energy Operating, LLC, Hudspeth Oil Corporation, Torchlight Hazel, LLC and Warwink Properties, LLC.PLANO, TX / ACCESSWIRE / J/ Torchlight Energy Resources, Inc. Torchlight has interests in four oil and gas projects: the Orogrande Project in Hudspeth County, Texas the Hazel Project in Sterling, Tom Green, and Irion Counties, Texas the Winkler Project in Winkler County, Texas, and the Hunton wells in partnership with Husky in Central Oklahoma. The Company is primarily focused on the acquisition of early stage projects, the development and delineation of these projects, and then the monetization of those assets once these activities are completed. The Company is engaged in the acquisition, exploration, exploitation and/or development of oil and natural gas properties in the United States.

Torchlight energy