Torchlight Energy Resources (TRCH) Provides Update on Proposed Business Combination Timing and Payment Date for Preferred Stock Dividend

June 21, 2021 7:16 AM EDT
Get Alerts TRCH Hot Sheet
Price: $4.95 --0%

Overall Analyst Rating:
    BUY (= Flat)

Trade Now! 
Join SI Premium – FREE

Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.

Torchlight Energy Resources, Inc. (NASDAQ: TRCH), an oil and gas exploration company ('Torchlight'), today announced that Torchlight and Metamaterial Inc. ('Metamaterial') have agreed to extend the outside date by which Torchlight and Metamaterial must close their business combination transaction (the "Arrangement") to June 30, 2021. The extension provides time for the June 24, 2021 record date and the June 25th payment date of the special Series A Preferred Stock dividend, declared on June 14, 2021, to transpire.

The payment date for the Series A Preferred Stock dividend will be June 25th. The Company expects to close the Arrangement no later than June 30th, 2021.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Corporate News, Dividends, Momentum Movers

Related Entities

Dividend, Definitive Agreement