REDHAWK COMPLETES INITIAL TRANCHE OF CAPITAL
RAISE
LAFAYETTE, LA -- September 17, 2019 --
InvestorsHub NewsWire -- RedHawk Holdings
Corp. (OTC:
SNDD) ("RedHawk" or the "Company") announced
today that
it has successfully completed the
sale of
$500,000
in
aggregate principal amount of new convertible
notes
(the
"Initial
Notes")
in a private
offering that is exempt from registration under the Securities Act
of 1933, as amended (the "Securities Act"). In addition, the
Company
intends to offer,
subject to market and other customary conditions,
an additional
$500,000 in aggregate principal amount of
new convertible notes (the "Additional Notes" and,
together with the Initial Notes, the "Convertible Notes")
in a private
offering
that is exempt from registration under the Securities
Act.
The Company
intends to use the
net proceeds of the offering of the Convertible Notes and Additional
Notes, after
payment of related fees and expenses, to retire existing debt and to provide working capital
for strategic and
organic growth.
The
Convertible Notes
mature on the fifth anniversary of the
date of issuance and are convertible into shares of
the
Company's common stock, par value $0.001 per
share, at a
price of $0.015 per share (the "Note
Shares").
Interest accrues at a rate of 7% per annum and is payable
semi-annually. The Convertible Notes are
secured by certain real property assets of the Company.
Under certain
circumstances, the Company may issue a notice of its intent to
redeem, for
cash, an amount equal to the sum of (a) 120% of the then
outstanding principal balance, (b) accrued but unpaid interest and
(c) all liquidated damages and other amounts due in respect of the
Convertible Notes. The holder of the Convertible Notes has
the right to
convert all or any portion of the Convertible Notes at the
conversion price at any time prior to redemption.
At
closing, the Company issued to
the Initial
Note purchasers a number of
warrants (the "Warrants")
exercisable
ten years from the
date of
issuance for
the purchase of an aggregate of
12,500,000 shares of the Company's common stock (the "Warrant
Shares" and
collectively with the Convertible Notes, Note Shares and Warrants,
the "Securities") at an exercise price
of $0.01 per
Warrant Share.
The Securities are being offered in a private
placement pursuant to the exemptions from the
registration requirements provided for in Regulation D and/or Section
4(a)(2) of
the Securities Act. The Securities have not been registered under
the Securities Act or the securities laws
of any other jurisdiction and may not be offered or sold in the
United States absent registration or an applicable exemption from
the registration requirements of the Securities Act and applicable
state securities or blue sky laws and foreign security
laws.
This press release shall not
constitute an offer to sell or the solicitation of an offer to buy
any Securities, nor shall there be any sales
of the Securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction. This press release is being issued pursuant to, and
in accordance with, Rule 135c under the Securities Act.
# # #
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 including, among other
things, the consummation of the offering of the
Additional Notes, constitute
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
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