Torchlight Energy Resources, an oil and gas exploration company, is set to acquire Metamaterial, a developer of high-performance functional materials and nanocomposite products. Financial terms were not disclosed. "We believe this Transaction provides our shareholders with the best opportunity moving forward. Metamaterial offers proven disruptive technology with strong environmental, social and governance priorities. This Transaction provides our shareholders with access to the multi-billion-dollar markets that Metamaterial serves and new applications that are being revolutionized with their sustainable technologies, while still allowing our Shareholders at closing of the Transaction to participate in the proceeds of our oil and gas asset divestitures," John Brda, Torchlight CEO.