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Metamaterial Inc. (the "Company" or "META") (CSE:MMAT) a developer of high-performance functional materials and nanocomposites, today announced that Lamda Guard Technologies Ltd. ("LGTL") purchased 81,584 shares of the common stock of the Company for a price per share of $4.51. LGTL is a long-time creditor of META. LGTL is owned by the original co-founders of META, including the current President and CEO, George Palikaras, the current Chief Science Officer, Themos Kallos, the current Director of Operations, Nadine Geddes, and a former board member, Paul McLaughlin. LGTL was owed a total of $367,944 by the Company and this obligation was extinguished in exchange for the issued shares. The purchase price of $4.51 per share represents a 10% premium to the $4.10 closing price of META shares on the CSE at the close on March 12, 2021. The shares are subject to the requisite 4 months and 1 day holding period requirements of the CSE
About Metamaterial Inc.
META delivers previously unachievable performance, across a range of applications, by inventing, designing, developing, and manufacturing sustainable, highly functional materials. Our extensive technology platform enables leading global brands to deliver breakthrough products to their customers in consumer electronics, 5G communications, health and wellness, aerospace, automotive, and clean energy. Our achievements have been widely recognized, including being named a Global Cleantech 100 company. Learn more at www.metamaterial.com.
The CSE has neither approved nor disapproved the contents of this news release.
Media inquiries:
media@metamaterial.com
Investor inquiries:
Mark Komonoski
Investor Relations
phone: 1-877-255-8483
mark@metamaterial.com
SOURCE: Metamaterial Inc.
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https://www.accesswire.com/635661/Metamaterial-Insiders-Convert-368-Thousand-of-Debt-into-Equity-at-a-Premium-to-Market
