On June 25, 2024, Meta Materials Inc. reached a settlement with the U.S. Securities and Exchange Commission (SEC) regarding a previously disclosed inquiry into the company's activities. The SEC's investigation was related to Meta Materials' merger with Torchlight Energy Resources, Inc. and other related matters. The company agreed to the settlement without admitting or denying the allegations. As part of the settlement, Meta Materials is required to cease and desist from future violations of specific sections of the Securities Act and the Exchange Act, and pay a civil penalty of $1,000,000 in scheduled installments. The details of the settlement are outlined in the SEC's Settlement Order, which is attached as Exhibit 99.1 to the company's Form 8-K filing.

On June 25, 2024, Meta Materials Inc. reached a settlement with the U.S. Securities and Exchange Commission (SEC) regarding a previously disclosed inquiry into the company's activities. The SEC's investigation was related to Meta Materials' merger with Torchlight Energy Resources, Inc. and other related matters. The company agreed to the settlement without admitting or denying the allegations. As part of the settlement, Meta Materials is required to cease and desist from future violations of specific sections of the Securities Act and the Exchange Act, and pay a civil penalty of $1,000,000 in scheduled installments. The details of the settlement are outlined in the SEC's Settlement Order, which is attached as Exhibit 99.1 to the company's Form 8-K filing.