REDHAWK PLANS TO RETURN COMPONENT PRODUCTION TO U.S.

Date : 10/02/2019 @ 1:00PM
Source :InvestorsHub NewsWire
Stock : RedHawk Holdings Corp. (SNDD)
Quote : 0.011  -0.001 (-8.33%) @ 9:30PM

REDHAWK PLANS TO RETURN COMPONENT PRODUCTION TO U.S.

REDHAWK PLANS TO RETURN COMPONENT PRODUCTION TO U.S.

 

LAFAYETTE, LA -- October 2, 2019 -- InvestorsHub NewsWire -- RedHawk Holdings Corp. (OTC: SNDD) ("RedHawk" or the "Company"), a diversified holding company engaged in sales and distribution of medical devices, branded generic pharmaceutical drugs, commercial real estate investment and leasing, point of entry full-body security systems, and specialized financial services, announced today that it plans to move production of most of the U.S.-bound electronic components for its SANDD mini™ and SANDD – HP™ needle incineration devices from China to the U.S. Production components for the re-designed SANDD Pro™ are currently expected to be manufactured in the U.S.

"During the current fourth quarter, we expect most of the electronic components of our U.S. bound SANDD mini™ and SANDD – HP™ needle incineration devices will be in production in the U.S.," said G. Darcy Klug, RedHawk's Chairman and Interim Chief Executive Officer. "Our decision to move most of the production of these electronic components from China to the U.S. is to insulate against possible U.S. tariffs. These products were both re-designed last year, which included making their electronics more manufacturing friendly. The re-design also made it more economical for U.S. manufacturers to be competitive in the bidding process. Therefore, we expect this production move will enable us to recognize certain cost savings, improve production efficiencies and shorten supply chain lead-times for these important RedHawk products."

  

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About RedHawk Holdings Corp.

RedHawk Holdings Corp., formerly Independence Energy Corp., is a diversified holding company which, through its subsidiaries, is engaged in sales and distribution of medical devices, sales of branded generic pharmaceutical drugs, commercial real estate investment and leasing, sales of point of entry full-body security systems, and specialized financial services. Through its medical products business unit, the Company sells the Sharps and Needle Destruction Device (SANDD™), WoundClot Surgical - Advanced Bleeding Control, and the Carotid Artery Digital Non-Contact Thermometer. Through our United Kingdom based subsidiary, we manufacture and market branded generic pharmaceuticals. RedHawk Energy holds the exclusive U.S. manufacturing and distribution rights for the Centri Controlled Entry System, a unique, closed cabinet, nominal dose transmission full-body x-ray scanner.

 

Cautionary Statement Regarding Forward-Looking Statements

This release may contain forward-looking statements. Forward-looking statements are all statements other than statements of historical fact. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. The words "anticipate," "may," "can," "plans," "believes," "estimates," "expects," "projects," "targets," "intends," "likely," "will," "should," "to be," "potential" and any similar expressions are intended to identify those assertions as forward-looking statements.

Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties. In evaluating forward-looking statements, you should consider the various factors which may cause actual results to differ materially from any forward-looking statements including those listed in the "Risk Factors" section of our latest 10-K report. Further, the Company may make changes to its business plans that could or will affect its results. Investors are cautioned that the Company will undertake no obligation to update any forward-looking statements.

 

Media Contact:

Julie Calzone

(337) 235-2924

jcalzone@calzone.com

 

Company Contacts:

G. Darcy Klug, Chairman, CEO and CFO

(337) 269-5933

darcy.klug@redhawkholdingscorp.com

 

Investor Relations:

Stephanie Prince, Managing Director

PCG Advisory

(646) 762-4518

sprince@pcgadvisory.com

 

 

 

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