Meta Materials Announces Proposed Public Offering

HALIFAX, NS / ACCESSWIRE / April 13, 2023 / Meta Materials Inc. (the "Company" or "META®") (NASDAQ:MMAT), (FSE:MMAT), a developer of high-performance functional materials and nanocomposites, today announced that it intends to offer shares of its common stock and warrants to purchase shares of its common stock in an underwritten public offering. In addition, the Company expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares and/or warrants to purchase shares of its common stock at the public offering price, less underwriting discounts and commissions. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Ladenburg Thalmann & Co. Inc. and A.G.P./Alliance Global Partners are acting as joint bookrunning managers for the offering. Cormark Securities Inc. is expected to be participating as a member of the selling group.

META intends to use the net proceeds from the offering for working capital and general corporate purposes, which include, but are not limited to: on-going development of our existing and future products, (such as our advanced materials NPORE® and NCORE™ for Li-ion battery applications, electro-optical devices, the expansion of our manufacturing facilities and capital equipment purchases), as well as general and administrative expenses.

A shelf registration statement relating to the shares of common stock to be issued in the proposed offering was filed with the Securities and Exchange Commission (the "SEC") and is effective. A preliminary prospectus supplement relating to the offering has also been filed with the SEC and is available on the SEC's website at www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Copies of the preliminary prospectus supplement and accompanying base prospectus relating to this offering may be obtained from Ladenburg Thalmann & Co. Inc., Prospectus Department, 640 Fifth Avenue, 4^th Floor, New York, New York 10019, or by email: prospectus@ladenburg.com, from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28^th Floor, New York, NY 10022, by telephone at (212) 624-2060, or by email at prospectus@allianceg.com or by accessing the SEC's website at www.sec.gov.

About Meta Materials Inc.

We are developing materials that we believe can improve the performance and efficiency of many current products as well as allow new products to be developed that we believe could not otherwise be developed without such materials across a range of applications, by inventing, designing, developing, and manufacturing sustainable, high-performance, functional materials, components and systems. We believe that our extensive technology platform has the potential to enable leading global brands to deliver breakthrough products to their customers in consumer electronics, 5G communications, health and wellness, aerospace, automotive, and clean energy. Our nano-optic metamaterial technology provides anti-counterfeiting security features for government documents and currencies and authentication for brands. Learn more at www.metamaterial.com.

Forward-Looking Information

This press release includes forward-looking information or statements within the meaning of Canadian securities laws and within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, regarding the Company, which may include, but are not limited to, statements with respect to the proposed public offering and the use of proceeds from the offering. The offering is subject to market and other conditions and there can be no assurance as to whether or when the offering may be completed or as to the actual size or terms of the offering. Often, but not always, forward-looking information can be identified by the use of words such as "pursuing", "potential", "predicts", "projects", "seeks", "plans", "expect", "intends", "anticipated", "believes" or variations (including negative variations) of such words and phrases, or statements that certain actions, events or results "may", "could", "should", "would" or "will" be taken, occur or be achieved. Such statements are based on the current expectations and views of future events of the management of the Company and are based on assumptions and subject to risks and uncertainties. Although the management of the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Company. More details about these and other risks that may impact the Company's business are described under the heading "Cautionary Note Regarding Forward-Looking Statements" and under the heading "Risk Factors" in the Company's Form 10-K filed with the SEC on March 23, 2023 as amended on Form 10-K/A filed with the SEC on March 24, 2023, and in subsequent filings made by Meta Materials with the SEC, which are available on the SEC's website at www.sec.gov. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except to the extent required by law.

Media Inquiries

Rob Stone
Vice President, Corporate Development and Communications
Meta Materials Inc.
media@metamaterial.com

Investor Contact

Mark Komonoski
Senior Vice President
Integrous Communications
Phone: 1-877-255-8483
Email: ir@metamaterial.com

SOURCE: Meta Materials Inc.