REDHAWK AGREES TO PURCHASE MED TECH FARMS
LLC
LAFAYETTE, LA -- February 11, 2021 -- InvestorsHub NewsWire
-- RedHawk Holdings Corp.
(OTC:
SNDD) ("RedHawk" or the "Company"), a
diversified holding company primarily engaged in sales and
distribution of medical devices, announced today that its
wholly-owned subsidiary, RedHawk Pharma LLC, has agreed to acquire
certain cannabis assets of Med Tech Farms LLC ("Med Tech"), an
Oklahoma-based start-up grower and supplier of cannabis products
for a total of $1 million to be paid through a combination of cash,
stock and convertible notes. The assets to be acquired include, but
are not limited to, the licenses to grow, manufacture, transport
and sell cannabis products in the State of Oklahoma, with an
anticipated initial focus on "craft" cultivation and
distribution.
Commenting on the
acquisition, G. Darcy Klug, RedHawk's Chairman and Chief Financial
Officer, said, "We are really excited about the anticipated Med
Tech acquisition, its management team and the potential for strong
and exciting strategic organic growth opportunities for RedHawk,
not only in Oklahoma, but in other states as well."
A closing, is
expected to occur before March 31, 2021 and is contingent upon,
among other things, approval by RedHawk's board of directors, the
negotiation, acceptance and execution of a final definitive
purchase agreement, acceptance and approval by the board of
directors and the shareholders of the seller, satisfactory
completion of legal and financial due diligence, RedHawk obtaining
the required amount of acquisition financing, and the obtainment of
all necessary consents and approvals of any third
parties.
# # #
About RedHawk Holdings Corp.
RedHawk Holdings Corp., formerly Independence Energy Corp., is
a diversified holding company which, through its subsidiaries, is
engaged in the 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. For more
information, please visit: http://www.redhawkholdingscorp.com
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.
Company
Contact:
G. Darcy Klug,
Chairman and CFO
(337)
269-5933
darcy.klug@redhawkholdingscorp.com
Philip C.
Spizale, CEO
(337)
269-5933
philip.spizale@redhawkholdingscorp.com
Investor
Relations:
Stephanie
Prince, Managing Director
PCG
Advisory
(646)
762-4518
sprince@pcgadvisory.com
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