India, June 16 -- Torchlight Energy Resources, Inc. (TRCH) shares are rising more than 30 percent on Wednesday morning trade, after the company reported a Special Dividend of Series A Preferred Stock to be issued on a one-for-one basis to Common Stockholders on record June 24. The company said the special dividend is in connection with the business combination transaction with Metamaterial, Inc.
The shares have been for the last several days and reached above year-to-date level.
Currently, shares are at $6.51, up 28.40 percent from the previous close of $5.07 on a volume of 89,828,442. The shares have traded in a range of $0.21-$6.76 on average volume of 11,468,910.
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