HALIFAX, August 31, 2020 – Metamaterial Inc. (“Company” or “META”) (CSE: MMAT) a developer of high-performance functional materials and nanocomposites, today released second quarter 2020 results. Please visit the Investors section of our website to view the Q2 2020 Shareholder Letter.

The interim financial statements and the associated management discussion and analysis for the quarter and six months ended June 30, 2020 are available on the Investors section of our website as well as under the Company’s profile on SEDAR at www.sedar.com.

“We are excited to advance toward our next phase of volume production, having signed a ten-year lease for an approximately 53,000 square foot facility, which will host holography and lithography R&D labs and Intel’s first-of-a-kind, high-volume, roll-to-roll holographic manufacturing equipment for AR and other Applications. In 2020 YTD, we have 16 active, customer-funded development programs, and we are engaged with a strong pipeline of more than 50 project opportunities with global companies,” said George Palikaras, President and CEO.

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Media inquiries:

Cindy Roberts
VP Marketing & Communications
Metamaterial Inc.
902-222-3658
[email protected]terial.com

Investor inquiries:

Mark Komonoski
Director Capital Markets and IR
Metamaterial Inc.
phone: 1-877-255-8483
[email protected]

About Metamaterial Inc.

META is changing the way we use, interact and benefit from light. META designs and manufactures advanced materials and performance functional films which are engineered at the nanoscale to control light and electromagnetic waves. META is currently developing new materials with diverse applications in the automotive, aerospace, consumer electronics and medical industries. META has a growing patent portfolio with three core technologies; holographic, lithographic, and wireless sensing, designed for high volume applications. META is headquartered in Dartmouth, Nova Scotia and has offices in London, UK and Pleasanton, California. To learn more visit www.metamaterial.com.

Forward Looking Information

This release includes forward-looking information within the meaning of Canadian securities laws regarding the Company and its business, which may include, but are not limited to, statements with respect to the business strategies and operational activities of the Company. Often but not always, forward-looking information can be identified by the use of words such as “expect”, “intends”, “anticipated”, “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “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 companies, including risks regarding the technology industry, market strategic and operational activities, and management’s ability to manage and to operate the business. 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.

The CSE has neither approved nor disapproved the contents of this news release.