Statement of Changes in Beneficial Ownership (4)
January 12 2021 - 02:54PM
Edgar (US Regulatory)
FORM 4
[ ]
Check this box if no longer subject to Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL
OWNERSHIP OF SECURITIES
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OMB
APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response... 0.5 |
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Filed pursuant to Section 16(a) of the
Securities Exchange Act of 1934 or Section 30(h) of the Investment
Company Act of 1940
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1. Name
and Address of Reporting Person * McCabe Greg |
2. Issuer Name and Ticker or Trading
Symbol TORCHLIGHT ENERGY RESOURCES INC [ TRCH ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)__X__
Director __X__
10% Owner
_____ Officer (give title
below) _____ Other
(specify below)
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(Last)
(First)
(Middle)
500 WEST TEXAS AVE., SUITE 890 |
3. Date of Earliest Transaction (MM/DD/YYYY)
12/30/2020
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(Street)
MIDLAND, TX 79701
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line) _X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person |
Table I - Non-Derivative Securities Acquired, Disposed of, or
Beneficially Owned
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1.Title of Security
(Instr. 3) |
2. Trans. Date |
2A. Deemed Execution Date, if any |
3. Trans. Code
(Instr. 8) |
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) |
5. Amount of Securities Beneficially Owned Following
Reported Transaction(s)
(Instr. 3 and 4) |
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4) |
7. Nature of Indirect Beneficial Ownership (Instr.
4) |
Code |
V |
Amount |
(A) or (D) |
Price |
Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible
securities)
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1. Title of Derivate Security
(Instr. 3) |
2. Conversion or Exercise Price of Derivative
Security |
3. Trans. Date |
3A. Deemed Execution Date, if any |
4. Trans. Code
(Instr. 8) |
5. Number of Derivative Securities Acquired (A) or
Disposed of (D)
(Instr. 3, 4 and 5) |
6. Date Exercisable and Expiration Date |
7. Title and Amount of Securities Underlying
Derivative Security
(Instr. 3 and 4) |
8. Price of Derivative Security
(Instr. 5) |
9. Number of derivative Securities Beneficially
Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct
(D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr.
4) |
Code |
V |
(A) |
(D) |
Date Exercisable |
Expiration Date |
Title |
Amount or Number of Shares |
6% Convertible Promissory
Note |
$1 |
12/30/2020 |
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A (1) |
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|
$100000 |
12/30/2020 |
5/10/2021 (2) |
Common Stock |
100000 (3) |
(4) |
$100000 |
D |
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Explanation of
Responses: |
(1) |
The reporting person loaned
the issuer $100,000 in exchange for a 6% convertible promissory
note. |
(2) |
The convertible note has a
maturity date of the earlier of (i) May 10, 2021 and (ii) the date
on which a business combination between the issuer and Metamaterial
Inc. is closed. |
(3) |
This amount of common stock
only accounts for principal and does not account for accrued and
unpaid interest which is also convertible under the note. This
amount is also subject to adjustment in the event of any
reclassification, stock split, stock dividend or other similar
event. |
(4) |
The convertible note was
issued in consideration for a loan to the issuer by the reporting
person in the amount of $100,000. |
Reporting
Owners
|
Reporting Owner Name / Address |
Relationships
|
Director |
10% Owner |
Officer |
Other |
McCabe Greg
500 WEST TEXAS AVE.
SUITE 890
MIDLAND, TX 79701 |
X |
X |
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Signatures
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/s/ Greg McCabe |
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1/6/2021 |
**Signature of Reporting
Person |
Date |