February 2021 - Metamaterial Technologies
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February 2021
Forward-Looking Statements
CERTAIN STATEMENTS IN THIS PRESENTATION CONCERNING THE PROPOSED TRANSACTION, INCLUDING ANY STATEMENTS REGARDING THE EXPECTED TIMETABLE FOR COMPLETING THE PROPOSED TRANSACTION, THE RESULTS,
EFFECTS, AND BENEFITS OF THE PROPOSED TRANSACTION, FUTURE OPPORTUNITIES FOR THE COMBINED COMPANY, FUTURE FINANCIAL PERFORMANCE AND CONDITION, GUIDANCE AND ANY OTHER STATEMENTS REGARDING
TORCHLIGHT ENERGY RESOURCES, INC.’S (“TORCHLIGHT'S”) OR METAMATERIAL INC.’S (“META’S”) FUTURE EXPECTATIONS, BELIEFS, PLANS, OBJECTIVES, FINANCIAL CONDITIONS, ASSUMPTIONS OR FUTURE EVENTS OR
PERFORMANCE THAT ARE NOT HISTORICAL FACTS ARE “FORWARD-LOOKING” STATEMENTS BASED ON ASSUMPTIONS CURRENTLY BELIEVED TO BE VALID. FORWARD-LOOKING STATEMENTS ARE ALL STATEMENTS OTHER THAN
STATEMENTS OF HISTORICAL FACTS. THE WORDS “ANTICIPATE,” “BELIEVE,” “ENSURE,” “EXPECT,” “IF,” “INTEND,” “ESTIMATE,” “PROBABLE,” “PROJECT,” “FORECASTS,” “PREDICT,” “OUTLOOK,” “AIM,” “WILL,” “COULD,” “SHOULD,”
“WOULD,” “POTENTIAL,” “MAY,” “MIGHT,” “ANTICIPATE,” “LIKELY” “PLAN,” “POSITIONED,” “STRATEGY,” AND SIMILAR EXPRESSIONS OR OTHER WORDS OF SIMILAR MEANING, AND THE NEGATIVES THEREOF, ARE INTENDED TO
IDENTIFY FORWARD-LOOKING STATEMENTS. SPECIFIC FORWARD-LOOKING STATEMENTS INCLUDE STATEMENTS REGARDING TORCHLIGHT'S AND META’S PLANS AND EXPECTATIONS WITH RESPECT TO THE PROPOSED TRANSACTION
AND THE ANTICIPATED IMPACT OF THE PROPOSED TRANSACTION ON THE COMBINED COMPANY’S RESULTS OF OPERATIONS, FINANCIAL POSITION, GROWTH OPPORTUNITIES AND COMPETITIVE POSITION., AND THE 2021 CAPITAL
EXPENDITURES OF META THE FORWARD-LOOKING STATEMENTS ARE INTENDED TO BE SUBJECT TO THE SAFE HARBOR PROVIDED BY SECTION 27A OF THE SECURITIES ACT OF 1933, SECTION 21E OF THE SECURITIES EXCHANGE ACT
OF 1934 AND THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995.
THESE FORWARD-LOOKING STATEMENTS INVOLVE SIGNIFICANT RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE ANTICIPATED, INCLUDING, BUT NOT LIMITED TO, THE
POSSIBILITY THAT STOCKHOLDERS OF TORCHLIGHT MAY NOT APPROVE THE ISSUANCE OF NEW SHARES OF TORCHLIGHT COMMON STOCK IN THE TRANSACTION OR OTHER PROPOSALS THAT ARE A CONDITION TO THE
TRANSACTION OR THAT THE STOCKHOLDERS OF TORCHLIGHT AND META MAY NOT APPROVE THE ARRANGEMENT AGREEMENT; THE RISK THAT A CONDITION TO CLOSING OF THE PROPOSED TRANSACTION MAY NOT BE SATISFIED,
THAT EITHER PARTY MAY TERMINATE THE ARRANGEMENT AGREEMENT OR THAT THE CLOSING OF THE PROPOSED TRANSACTION MIGHT BE DELAYED OR NOT OCCUR AT ALL; POTENTIAL ADVERSE REACTIONS OR CHANGES TO
BUSINESS OR EMPLOYEE RELATIONSHIPS, INCLUDING THOSE RESULTING FROM THE ANNOUNCEMENT OR COMPLETION OF THE TRANSACTION; THE DIVERSION OF MANAGEMENT TIME ON TRANSACTION-RELATED ISSUES; THE
ULTIMATE TIMING, OUTCOME AND RESULTS OF INTEGRATING THE OPERATIONS OF TORCHLIGHT AND META; THE EFFECTS OF THE BUSINESS COMBINATION OF TORCHLIGHT AND META, INCLUDING THE COMBINED COMPANY’S
FUTURE FINANCIAL CONDITION, RESULTS OF OPERATIONS, STRATEGY AND PLANS; CHANGES IN CAPITAL MARKETS AND THE ABILITY OF THE COMBINED COMPANY TO FINANCE OPERATIONS IN THE MANNER EXPECTED; THE FACT
THAT ANY DIVIDEND PAYMENTS WILL BE AT THE DISCRETION OF THE COMBINED COMPANY’S BOARD OF DIRECTORS AND MAY BE SUBJECT TO LEGAL, CONTRACTUAL OR OTHER RESTRICTIONS; THE EFFECTS OF COMMODITY
PRICES; THE RISKS OF OIL AND GAS ACTIVITIES; AND THE FACT THAT OPERATING COSTS AND BUSINESS DISRUPTION MAY BE GREATER THAN EXPECTED FOLLOWING THE PUBLIC ANNOUNCEMENT OR CONSUMMATION OF THE
PROPOSED TRANSACTION. EXPECTATIONS REGARDING BUSINESS OUTLOOK, INCLUDING CHANGES IN REVENUE, PRICING, CAPITAL EXPENDITURES, CASH FLOW GENERATION, STRATEGIES FOR OUR OPERATIONS, OIL AND NATURAL
GAS MARKET CONDITIONS, LEGAL, ECONOMIC AND REGULATORY CONDITIONS, AND ENVIRONMENTAL MATTERS ARE ONLY FORECASTS REGARDING THESE MATTERS.
ADDITIONAL FACTORS THAT COULD CAUSE RESULTS TO DIFFER MATERIALLY FROM THOSE DESCRIBED ABOVE CAN BE FOUND IN TORCHLIGHT'S ANNUAL REPORT ON FORM 10-K FOR THE YEAR ENDED DECEMBER 31, 2020 AND IN
ITS SUBSEQUENTLY FILED QUARTERLY REPORTS ON FORM 10-Q, EACH OF WHICH IS ON FILE WITH THE SEC AND AVAILABLE FROM TORCHLIGHT'S WEBSITE AT WWW.TORCHLIGHTENERGY.COM UNDER THE “INVESTOR RELATIONS”
TAB, AND IN OTHER DOCUMENTS TORCHLIGHT FILES WITH THE SEC.
ALL FORWARD-LOOKING STATEMENTS SPEAK ONLY AS OF THE DATE THEY ARE MADE AND ARE BASED ON INFORMATION AVAILABLE AT THAT TIME. TORCHLIGHT DOES NOT ASSUME ANY OBLIGATION TO UPDATE FORWARD-
LOOKING STATEMENTS TO REFLECT CIRCUMSTANCES OR EVENTS THAT OCCUR AFTER THE DATE THE FORWARD-LOOKING STATEMENTS WERE MADE OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED EVENTS EXCEPT AS
REQUIRED BY FEDERAL SECURITIES LAWS. AS FORWARD-LOOKING STATEMENTS INVOLVE SIGNIFICANT RISKS AND UNCERTAINTIES, CAUTION SHOULD BE EXERCISED AGAINST PLACING UNDUE RELIANCE ON SUCH STATEMENTS.
2
Transaction Overview
▪ Reverse takeover of Torchlight (a U.S.-listed public company) by Meta (a Canadian-listed public company), by way of a
Plan of Arrangement.
▪ Torchlight’s pre-Arrangement stockholders will own approximately 25.0% of the new combined company post-closing,
and in exchange issue shares of its common stock to holders of Meta common shares, representing approximately
75.0% ownership in the combined company.
▪ Prior to the effective date of the closing of the Arrangement, Torchlight will declare and issue shares of Series A
preferred stock to holders of Torchlight common stock representing 100% of the value of its existing oil and gas assets.
▪ Shares of Series A preferred stock will be unregistered and not freely-tradable.
▪ Preferred stockholders will have the right to receive a cash dividend (on a per preferred share basis) of any net
proceeds received from the sale or disposition of oil and gas assets owned by Torchlight prior to the earlier of (i)
December 31, 2021 or (ii) the date which is six months from the closing of the Arrangement.
▪ During the sale period, the Company may spin off or sell any of the remaining oil and gas assets.
▪ Further, the oil and gas assets will be held in wholly-owned subsidiaries and all remaining Torchlight secured debt
will be non-recourse to the parent.
▪ The current management team at Meta will operate the combined company post-closing.
3
Transaction Merits
▪ Legacy Value + + | Pre-Arrangement ▪ New Vision | Transition to the development of
Torchlight shareholders still maintain niche, technology-enabling nanomaterials
exposure to the oil and gas assets and will that have broad applications in a future more
receive a pro rata share of any net proceeds dependent on making products more
generated from the sale or disposition of the connected, functional and interactive with
assets, in addition to receiving 25% of the energy, vision and touch.
combined business with META.
4
The Transaction Opportunity
MASTERING LIGHT
DRIVING INNOVATION
Metamaterial, Inc.
www.metamaterial.com
CSE: MMAT
Forward Looking Statements
This Presentation includes forward-looking information within the proposed transaction with Torchlight Energy Resources Inc., the
meaning of Canadian securities laws and within the meaning of ability of the parties to raise necessary equity capital, approval of the
Section 21E of the Securities Exchange Act of 1934, as amended, transaction and continued listing by the NASDAQ exchange,
regarding Metamaterial and its business, which may include, but are approval of the Canadian Securities Exchange, receipt of
not limited to, statements with respect to the terms and anticipated shareholder approval and required third party and regulatory
timing of the proposed transaction with Torchlight Energy Resources consents, the potential benefits of the transaction to Metamaterial
Inc., the intention to raise equity capital, the potential continued shareholders, risks related to the research and development projects
listing of Torchlight on the NASDAQ exchange and the benefits of the Company, risks related to the market potential of the
thereof, the approval of the Transaction by the shareholders of Company’s products, risks related to the investment priorities and
Torchlight and Metamaterial, the business strategies, product manufacturing plans of the Company, risks related to the scalability
development and operational activities of Metamaterial. Often but not of the Company’s production ability, risks related to the technology
always, forward-looking information can be identified by the use of industry, market strategic and operational activities, and
words such as “expect”, “intends”, “anticipated”, “believes” or management’s ability to manage and to operate the business.
variations (including negative variations) of such words and phrases, Although Metamaterial has attempted to identify important factors
or state that certain actions, events or results “may”, “could”, “would” that could cause actual actions, events or results to differ materially
or “will” be taken, occur or be achieved. Such statements are based from those described in forward-looking statements, there may be
on the current expectations and views of future events of the other factors that cause actions, events or results to differ from those
management of Metamaterial and are based on assumptions and anticipated, estimated or intended. Accordingly, readers should not
subject to risks and uncertainties. Although the management of place undue reliance on any forward-looking statements or
Metamaterial believes that the assumptions underlying these information. No forward-looking statement can be guaranteed.
statements are reasonable, they may prove to be incorrect. The Except as required by applicable securities laws, forward-looking
forward-looking events and circumstances discussed in this release statements speak only as of the date on which they are made and
may not occur and could differ materially as a result of known and Metamaterial does not undertake any obligation to publicly update or
unknown risk factors and uncertainties affecting the companies, revise any forward looking statement, whether as a result of new
including risks regarding the ability of the parties to close the information, future events, or otherwise.
6
Solutions for everyday life.
High performance, sustainable metamaterial functional films
that change how we use, interact with and benefit from light
and other forms of energy.
(Click) META Corporate Video Introduction
7
8
Almost every great advancement in technology can be
attributed to a breakthrough in material science.
Electronics THEN...
Electronics NOW...
1956, the Nobel Prize in Physics was awarded jointly to Shockley, Bardeen and Brattain for their development of
the transistor, driven by the discovery of semiconducting materials and the means to manipulate their properties
The Birth of the Digital Age.
9
21st Century will be the NEW AGE of
“invisible" highly functional metamaterials
Échelette DOE Blazed binary grating Geometric Phase Mie resonators High performance META META
Light field Concept
(1970’s) (1998) (2001) (2014) (2016) (2019) (2020) (2020)
VALUE PROPOSITION HOW IT WORKS
META helps OEMs develop higher-value products in META patterns its materials to “program” different
consumer electronics, energy, medical, aerospace, functional properties over large areas for a few $/m2
automotive, and more. (More on our website for info on metamaterial technology)
Metamaterials can create major disruptive benefits over the It is now possible to create bulk materials with
next decade in ways unachievable by conventional materials. unique properties in absorption, emission, sensing,
transmission, and guiding of light, sound, energy, and
THE META DIFFERENCE – providing several-fold to order-of- heat, as well as friction, strength, and electric energy.
magnitude improvements in performance, at scale, reduced
cost, using sustainable materials. META’s current record: 40x
compared to previous incumbent solution.
Source: Internal META estimates
10
UNPRECEDENTED Emerging Trends:
MARKET OPPORTUNITY 1 5G infrastructure rollout and Vehicle Electrification ->
initial wave of growth in metamaterials
Some of our most cherished devices –
smartphones, cars, computers and medical > $3 Trillion
2 Combined >$3T Advanced Materials, IoT, Medical,
Energy, Aerospace and Automotive markets.
equipment – contain rare earth elements
and precious metals -- what the Japanese
refer to as “the seeds of technology.”
Market 3 Metamaterial device market expected to grow to
$10.7B SAM by 2030.
Metamaterials Market Forecast
US$ Millions (Source: LUX Research)
$12,000 (Click) Market Report
$10,000
$8,000
$6,000
$4,000
$2,000
$0
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
Threats to Incumbents: Communications Sensing Vibration damping Other
1 Sustainability of growth
in terms of raw materials
2 Competitive threats from Asia
(>70% supply chain control)
3 Price and OEM Demand
for more performance
(some are 40x-1000x rarer than Gold) e.g. Indium & Indium oxide sales > $20Bn/yr keeps increasing
Source: Lux Research, n-tech Research, BCC Research, Deloitte, internal META estimateMultiple Potential Revenue Streams based on R2R Manufacturing and Material Supply
11META at a Glance
Design & Nanofabrication Developed and De- Core Capabilities Growing Patent Portfolio Strategic Partnerships
Experts risked Tech Platform Holography, Lithography 54 Granted Patents in Relationships with
Breakthrough performance >$75M CAD Invested & Wireless Sensing 28 Patent Families. Fortune500 Companies
across a wide range of Since 2011 35 Patents Pending across multiple industries
applications, driven by Accelerated growth by Purpose-built 2021 goal: >150 patents
customer requests M&A in the last 4yrs Proprietary Balanced Revenue Model
Manufacturing – R&D Offices in Silicon – B2B product sales,
Growing metamaterials Non-dilutive funding 10,000 m2 current Valley, Canada and material sales, OEM
library and key supplier support provided from nanopatterning capacity, London, UK; Growing arrangements with
partnerships with multiple government agencies pilot line strategy expected licensing income
team of renowned
world 1st achievements and leading to high volume from highest-volume
industry awards
scientists and proven
capacity partners
leaders
‘Meta’ – from the The Financial Times listed the
Greek word to Go Beyond. breakthroughs in metamaterials in the
50 Ideas to Change the World
12META is a Key Player in the Value Chain
Key Advantages vs.
Competition:
• High quality, proprietary large area
B2B OEM patterning
Raw Customer or • Lower production costs, roll-to-roll
Large Area capable
Materials Partner
Nano-patterning • Multi-functionality in a single area
(e.g. transparent + conductive + signal
enhancement)
Final Product
• Lightweight and flat, ready for vertical
Design/Software stacking/integration
AI Driven & Testing Assembly
• Precise control with more materials
choice to enable stronger light-matter
interactions
+ •
•
Higher performance (up to 40x)
Mass customizable designs, building
libraries of materials, structures and
Technology Platform e.g. 5G antennas arrangements
META works with raw material vendors & • Manufacturing in minutes vs.
Original Equipment Manufacturers. several hours
META is developing a library of • Sustainable raw materials & products
proprietary materials
13Advanced Materials Competitive Landscape
Existing META relationships
Source: LUX Research and Internal META estimates
14Case Study: Transparent
Sensors and 5G Antennas COMPETITIVE ADVANTAGE
META’s lithography capability enables fabrication of
In 2019, META partnered with sensors & antennas completely invisible to the human eye.
Samsung’s Advanced Institute of META’s touch sensors and transparent 5G antennas can
Technology team, to develop be integrated into smartphone displays, on windows of
transparent fingerprint sensors vehicles or buildings and home appliances.
suitable for next generation
META’s antennas can operate from low to high frequencies
smartphones and tablets.
(3G, 5G/6G and beyond) and provide communication
“Transparent fingerprint sensors were systems for conventional, EV and autonomous vehicles.
fabricated to have lower resistance and higher
transmittance compared to the conventional
sensors.
Fingerprint sensors made with RML can have
lower sheet resistance and higher visible light
transmittance than the sensors made of
conventional transparent conductor materials,
such as ITO and silver nanowires”
Source: Conference of the Next Generation
Lithography 2019 (public information)
Hyun-Joon Kim-Lee1.
CO-DEVELOPMENT PARTNER:
Bizarre New Materials Could Make Bendy Phones That Work” featured on WIRED.COM
Source: Internal META estimates
15Broad And Growing Target Applications
Consumer Electronics
Health and Wellness Augmented Reality, 5G
Non-invasive glucose monitoring, Displays & Touch Screens,
Vital sign monitoring, Transparent Antennas & EMI Shielding
Faster MRI imaging,
Zero-radiation, early-stage screening Automotive
for Cancer and Stroke. What are Metamaterials? Head-up Displays, 5G and LiDAR
Derive their properties from their enhancements, Passenger
novel structures (and not bulky Biosensors, De-icing and De-fogging,
materials), allowing them to directly
affect light, radio waves and other Light management
forms of electromagnetic waves.
Potential to improve virtually any
Aerospace/Defense industry they “touch”.
Energy
De-icing and De-fogging,
Next Generation Solar Cells
Transparent EMI Shielding,
Thermal Management
Laser Protection, Security
16META Transparent Window Film Transforms Outdoor 5G Coverage
17META Invisible Antenna to Enhance Indoor 5G and Digital TV Reception
META Transparent EMI Shielding - Transforms Cooking Visibility, Safely
19META Nano-heater to Protect Sensors - Transparent to RADAR and LIDAR Simultaneously
Consumer Electronics, Communications, Health & Wellness
– Example Applications
Image: Royole Corporation
Over $13Bn of Total Addressable Market
EMI Shielding Augmented Reality Communications Molecular Biosensor
- 2x more electromagnetic - Smart eyewear displays - Invisible antenna / reflector - Bio-photonic sensor with
shielding and - Specialty Optics for passive 5G network performance and
clearer view - metaFUSION™ optimization on buildings. sensitivity enhanced using
- Initial target: microwave- technology integrates - Transparent antenna for nanomaterial for molecular
convection combo ovens AR functions with more cars, and smartphones. fingerprint detection.
- Expansion to countertop sustainable production - Foldable displays for next - Rising demand for
microwaves with scale of prescription lenses generation smartphones point of care testing.
Source: Internal META estimates
21Solving Global Challenges Together With
OEM Partners And Customers
Selected Target Co-Development Partners and Customers in
Automotive, Medical, Aerospace & Defense, Consumer Electronics and Energy
22
22Investment Priorities 2021-2022
Initial roll-to-roll production equipment:
operational year-end
1. Acquire and launch Pilot Scale
roll-to-roll functional film production
capability by year-end 2021,
estimated $10M CAPEX
2. Customer Center including META’s
pilot line, to license, train and sell
duplicates internationally
3. Healthcare and Wellness applications Expansion equipment and clean room labs:
led by current customer engagements, operational 4Q21
estimated spending $3M
4. Applied R&D, increased headcount,
estimated spending $3M
23Scalable Revenue and Business Model
Design, Test Samples Wafer Scale Validation R2R Licensed Pilot Line Multiple Revenue
Streams
Design Verification Performance Validation Production at Scale Revenue Streams
• Produce samples • Complete • Cost model validation with 1. License Fee
to customer spec Phase 2 NRE customer 2. Master-Supply
• Test samples • Produce Beta lot for • Produce pilot scale lot for 3. Royalties
4. Equipment Supply
• Scope proposal for customer use customer use 5. Raw Material Supply
Phase 2 NRE • Pilot scale production • Commercial scale license Agreement
(Funded R&D) contract and scope and material supply 6. Service NRE contract
agreement (META owns IP)
24Executive Team
George Palikaris, Ph. D. Kenneth Rice, MBA, JD, LLM
President and CEO, Founder Chief Financial Officer & EVP
12 years in leadership positions of high-tech 30+ years experience, public and private
startups. Goldman Sachs (10KSB), MIT company CFO, in-house counsel,
Enterprise and EY awards for operations, and corporate development
entrepreneurship, Stanford, Harvard, INSEAD executive in technology and life sciences
Exec Ed. 50+ patents, 3 industry awards.
Jonathan Waldern, Ph. D. Gardner Wade
Chief Technology Officer Chief Product Officer
25 years experience in 20+ years in managing development
commercialization of holographic and engineering of high-definition optical
lithographic/nanomaterials for eyewear for global brands in military, flight
photonic applications, inventor and and performance sports applications
visionary with 140+ patents
Themos Kallos, Ph. D.
Chief Science Officer, Co-Founder
10 years experience in applied physics,
intellectual property development in
metamaterial applications, 40+ filed
patents and 50+ publications
25Selected Financial Highlights – Q3:20 YTD (CAD)
Q3:20 YTD includes 1-time costs of
CAD$3.3M in RTO listing costs
This information should be read in conjunction with the complete financial statements and the associated management
discussion and analysis, available on the Investors section of our website at www.metamaterial.com, as well as under the
Company’s profile on SEDAR at www.sedar.com
26Capitalization Historical Funding (CAD):
• Lockheed Martin ITB $5.6M
• Airbus ITB $3.0M
$18.4 • Babcock ITB $1.3M
• Satair Distribution License $1.3M
• M&A Activities1 $7.2M
• BDC Capital – Cleantech Fund $5.0M
• Radar Capital $4.4M
• Lark Investments, Caixa Capital, VTB
$18.4
Capital, URBANA Corporation $6M
• Innovacorp VC $3.0M
• SDTC Cleantech Fund $5.6M
• ACOA $7.0M
$21.8 • UK Research & Innovation $6.7M
• Other2 $2.5M
• Retail and Family Office Equity
$17.0
Notes: • Retail Convertible Debentures.
1 $7.2M Acquisition (Book Value basis) Mediwise Ltd. & Rolith Inc.
2 META has also executed in the last 10 years, numerous innovation projects ranging from Industry Partner and M&A (Strategic) >$75M
$5k to $800k, with a total value exceeding $2.5M. invested to
Institutional
- META currently has approximately $4.3M under non-dilutive funding contracts.
date in
- META has identified approximately $30M of additional non-dilutive funding that could Government (non-dilutive)
become awarded, though there is no guarantee.
META
Retail & Other Investors
Source: Internal META estimates, Currency in CAD $ 27Leading the NEXT AGE of “invisible"
highly functional metamaterials
Growth
Software driven Global
simulation tools Partnerships NASDAQ’s first ever
Metamaterials Company
Established & – 1st mover advantage.
Broad and
De-risked Tech
Growing IP
Estate Platform Access to Non-dilutive
OEM government funding
and Fortune 500 provides significant
IP companies, from match of equity and/or
diverse industries debt financing
Proprietary provide direction,
Team Manufacturing & funding and
Design Platform ready outlets for
Multinational our novel products
Subject Matter with multiple
Experts Scalable & Sustainable potential revenue
Products streams
28THANK YOU
Mark Komonoski
T: 877-255-8483
E: mark@metamaterial.com
29Appendix
Company Timeline, Intellectual Property,
Board of Directors, Key Asset acquisition,
Product roadmap, Product Application Examples
30Company Timeline
Product Launch
Series A and OEM
Key supply and
University 1st Major OEM Deal licensing partnerships
MRI & with Boeing, Artemis
Collaborations Prototype, Proof of Platform GlucoWise optical and Covestro
UNB, UdeM begin Human
Testing Partnership with
IDTechEx Best
Manufacturing
Best Aviation Product
Technology Award
(for NanoWeb®)
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
NRC & NSERC
Grants
1st Patent Filed New Head Office Acquisition Partnership with Acquisition Listed to Trade
Algorithm Developed Halifax, NS Canada Acquired Rolith Inc. Lockheed Martin Acquired Mediwise. on CSE Up-listing in
(London, UK)
(Pleasanton, CA, USA) Progress
28 Patent Families
20 Patents families
MIT Sponsored Global Distribution
Business Award Agreement with SATAIR
(for GlucoWise®)
31
31Intellectual Property & Know-How
Patent Families Breakdown
• 89 filed patents (54 granted) across
28 patent families (21 granted)
Other
• 5 registered trademarks 3 Holography
4
• Proprietary, custom manufacturing processes LED/Solar
3
and trade secrets, developed over
GlucoWise
10 years with multi-million $ investment 3
Lithography
• Processes and methods were patented early, 12
MRI
providing multi-year advantage over the 3
competition
Source: META IP Portfolio - Last updated Jan 15th 2020
32Board of Directors
Ram Ramkumar, B Tech, MBA Allison Christilaw, MBA, ICD.D
Chairman Director
10 years private investor in technology 20+ years Strategy Expert, Governance, HR,
35+ years on boards of numerous Management Consulting.
top TSX- and NASDAQ-listed companies Sold her business to Deloitte Canada
George Palikaras, Ph. D. Steen Karsbo
Founder, President and CEO Director
12 years in leadership positions of high-tech Close to 40 years of experience in aviation
startups. Goldman Sachs, MIT Enterprise industry management and consulting.
and EY awards for entrepreneurship, Various senior management positions for Satair,
Stanford, Harvard, INSEAD Exec Ed. 50+ an Airbus company, with $2.2B Sales
patents, 3 industry awards.
Maurice Guitton Eric Leslie
Director Director
Aerospace industry veteran, 28 years experience in management consulting,
inventor and entrepreneur, 40+ years venture advisory, and as an officer and or director
experience in composite advanced of numerous public and private companies.
materials, Former President and CEO President of high-tech Battery company
of Composites Atlantic (now STELIA)
33Interglass Acquisition Builds AR One-Stop-Shop
• metaFUSION™ integrated high-functional
metamaterials combined with lens casting technology
developed by Interglass Technology AG
• META acquired assets & IP of Swiss lens manufacturer
Interglass Technology AG, 70+ patents, trademarks and
trade secrets, proprietary software and designs
• High volume fully automated lens casting,
workstations, tools, test equipment, and technical data
• Proprietary specialty materials/foils supply
in cooperation with Covestro AG
• Supports just-in-time production of
prescription lenses and
embedded elements such as
optical combiners, waveguides,
and eye tracking sensors
$1.5B
• Highly Sustainable Process:
Augmented
• Less energy (10sec vs 50hrs curing time)
Reality Eyewear
• Zero water usage
• Less material
Market
Source: BCC Research
34Product Development Roadmap Summary
High-Volume Vertical Market Focused Products
• Automotive • Energy/Solar
• Aerospace & Defense • Health and Wellness Applications
• Consumer Electronics
Non-Recurring Engineering Projects Applied Research and Development
Objectives: Objectives:
Test and refine new product concepts Test and refine core technologies
Prototype and produce early units Prototype and produce early units
Design production process including scale-up Design production process including scale-up
Cover costs, obtain new IP
Sources: Funding Sources:
Original Equipment Manufacturer (OEM) clients Working Capital
Government grants Government grants
35Application Roadmap – NearTerm (18 months)
Functional metamaterial films for Aerospace & Defense and Consumer Electronicsmarkets
Augmented Reality Optical Filters and Laser Protection Transparent Heaters Transparent Antennas
Optical components for Augmented metaVISIONTM Advanced Optical metaAIR® eyewear laser protection NanoWeb® film-based NanoWeb® film-based antennas
Reality systems & head-up displays Components heating/defogging casted into glass for 5G comms
PARTNERS: Leading AR PARTNERS: OEM eyewear PARTNERS: Satair, Airbus, PARTNER: Eyewear OEMs, PARTNERS:
companies, Top Automotive manufacturers, Law Covestro, RCMP, Lufthansa Government Agencies, Headgear Tier 1 Glass OEMs and TelCo
OEMs, Tier 1 Automotive suppliers enforcement agencies, Technik OEMs
Commercial optical component
marketplace
CAPEX INVESTMENT / SOURCE: CAPEX INVESTMENT / SOURCE: CAPEX INVESTMENT / SOURCE: CAPEX INVESTMENT / SOURCE: CAPEX INVESTMENT / SOURCE:
Existing In-house, new roll-to-roll Existing In-house Existing In-house In progress (installation Q4 2020) In progress (installation Q4 2020)
capacity to be installed in 2021
PRODUCTION CAPACITY: PRODUCTION CAPACITY : PRODUCTION CAPACITY: PRODUCTION CAPACITY: PRODUCTION CAPACITY:
Very High volumes High volumes High volumes Low volumes until 2021 Low volumes until 2021
REVENUE POTENTIAL* REVENUE POTENTIAL* REVENUE POTENTIAL* REVENUE POTENTIAL* REVENUE POTENTIAL*
$50.0M/yr $20.0M/yr $38.0M/yr $10.0M $3.0M/yr
1,000,000 units @ $50 / Unit 200,000 units @ $100 / Unit 48,000 units @ $800 / Unit 25,000 units @ $400 / Unit 100,000 units @ $30 / Unit
*Source: Internal META estimates based on META’s forecasted annual manufacturing capacity (5days, 2 shifts) and avg. selling price
per unit (pricing may vary depending on volume orders)
36Application Roadmap – Mid Term (2-5yrs)
Functional metamaterial films for Automotive,5G Connected, and Energy markets
Displays Solar Transparent Transparent Touch Sensor for Energy
Optical components for Coating that improves solar Heaters EMI Shielding Flexible Displays
large area displays panel efficiency,
Harvesting
Transparent conducting NanoWeb film-based NanoWeb placed below NanoWeb films
(smartphones, tablets, TV Transparent conducting
film, ITO replacement protection against the screen to provide as insulators &
screens) electrodes, ITO replacement
(heating/defogging) electromagnetic Touch functions electrodes
interference
PARTNERS: PARTNERS: PARTNERS: PARTNERS: PARTNER: PARTNER:
TelCo OEMs, Automotive ENEL Green Power, Solar Tier 1 glass OEMs, Consumer Electronics TelCo OEMs Energy OEMs
OEMs, Tier 1 projector OEM manufacturers, Automotive OEMs, OEMs, Aerospace
OEMs Lockheed and other TelCo OEMs OEMs, Automotive
Aerospace OEMs OEMs, Tier 1 Suppliers
MARKET POTENTIAL* MARKET POTENTIAL*
According to BCC Research, the global market for transparent conductive films (such as ITO,
$14.2B $7.6B metal-mesh, silver nanowires, graphene, etc) and related technologies should grow from
by 2025 (CAGR 9.2%) by 2025 (CAGR 9.2%) $4.9 billion in 2020 to $7.6 billion by 2025 with a compound annual growth rate (CAGR) of
9.2% for the period of 2020-2025.
*Source: BCC Research, Internal META estimates
37Application Roadmap – Mid Term to Long Term (2-7yrs)
Functional metamaterials for Health and Wellness market – Licensing/Project Financing opportunities
Image Enhancement Sensor enhancement
MRI Medical Imaging Early-Stage Breast Cancer Non-invasive Glucometer Molecular Biosensor
MRI Imaging with
metamaterial film
Screening Dual Sensor mm-wave technology with Daily use Bio-photonic sensor with
metamaterial film (www.gluco-wise.com) sensitivity and performance enhanced
Radio-wave Imaging for breast
screening with metamaterial film using nanomaterial to meet
rising demand for point of care testing.
MARKET POTENTIAL* MARKET POTENTIAL* MARKET POTENTIAL* MARKET POTENTIAL*
$2.0+B $4.0+B $15.0+B $10.0+B
Supported by
*Source: Internal META estimates 38Solar Energy – Example Application
Ultra-thin, Light and Flexible Increases Solar Cell Efficiency
- Ideal for the transportation industry - Traps light that would otherwise be
- Adds onboard power, charging reflected, increases absorption
Over $5Bn of Total Addressable Market
Angular Absorption Scalable
- Captures sunlight from all angles - Can be sized for small or large areas
- Eliminates costly tracking systems - Applied to flat or curved surfaces
Source: Internal META estimates
39Automotive – Example Applications
Over $1Bn of Total Addressable Market
Autonomous Vehicles De-Icing / De-Fogging Head-up Displays
- Vehicle Electrification with - Active Transparent and - Reduce driver Distraction
solar roofs to increase Ultra-lightweight - Decrease Reaction Time, reduce
range and autonomy De-Icing & De-fogging of vehicle weight to improve range
- LiDAR, 5G and V2V Windshields, Headlights - Potential for 37 million units by 2030
sensing for improved and Sensors
Safety outcomes
Source: Internal META estimates
40Biosensors - Applications in Development
Expansion towards Biosensor Applications – Licensing/Project Financing opportunities
Molecular Biosensor
Daily use Biosensor with sensitivity and performance enhanced
using nanomaterial, to meet rising demand for point of care testing.
MARKET POTENTIAL
$10+B Biosensor platform technology for multi-day use, instantaneous, Point of Care (POC) tests,
using a miniature device which is carried continuously by workers or consumers. This
smartphone attached biosensor under development uses nanomaterial for molecular
fingerprint detection in a range of applications (such as COVID19 and others)
Source: Internal META estimates. Global Biosensors Market Is Expected to Reach USD 41.29 billion by 2027 : Fior Markets 10/2020
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