LAFAYETTE, La., Oct. 13, 2017 (GLOBE NEWSWIRE) — RedHawk Holdings Corp. (OTCQB:IDNG) (“RedHawk” or the “Company”) announced today that it has engaged MD Global Partners, LLC (“MDG”), a Manhattan based investment bank, partner and advisory that serves small cap and middle market companies. Their broad range of financial and management resources provides clients like RedHawk with premium services that are generally only available to larger companies. MDG is a member of the Financial Industry Regulatory Authority and the Securities Investor Protection Corporation.
“We are extremely excited about our association with MDG,” the Company said in a statement. “MDG will be instrumental in completing the second phase (“Phase 2”) of our increasing ownership in EcoGen Europe LTD which includes the return into treasury of 10 million shares of our common stock. We anticipate working with MDG to use our available treasury shares and the remaining availability under our secured debt credit facility, to continue restructuring our balance sheet and positioning RedHawk with any additional working capital needed to facilitate the completion of the recently announced expansion of our inventory of branded generic licenses and dossiers.”
Additionally, RedHawk Medical Products, LLC (“RMP”) announced today that it expects to receive this month, the initial delivery of its newly re-designed sharps and needle destruction device (“SANDD”) and is accepting orders for the sale of SANDD mini unit. Additionally, RMP said it expects to engage Louisiana State University to assist in the engineering of the next generation of SANDD which is expected to disintegrate needles with thicknesses of 18 gauge and higher and with lengths up to 2”. The re-designed SANDD mini can accept syringes up to 3cc and then disintegrate needles of 27 gauge and higher, with lengths up to 5/8”.
RMP said it hopes to have the next generation SANDD units ready for testing in early 2018. In combination, the Company said it believes SANDD units will then be capable of disintegrating and allowing for the safe, cost-effective and environmentally friendly disposal of most needles used in the medical, dental and veterinary markets.
The Company also announced today that it will not issue its Annual Report on Form 10-K until it has completed Phase 2 as it has a material impact on the Company’s financial statements. RedHawk further said it expects to have the Phase 2 agreements and completed by the end of October.
About MD Global Partners, LLC.
MD Global Partners, LLC “MDG” is a Manhattan-based investment bank, partner and advisory that serves small cap and middle market companies. Our broad range of financial and management resources provides clients with premium services that are generally only available to larger companies. The MDG team is committed to achieving our clients’ objectives, and our clients value our personalized attention and dedication to excellence. MDG is a member of the Financial Industry Regulatory Authority and the Securities Investor Protection Corporation. For more information, please visit: www.mdgpartners.com or call Chad White 212.524.9222
MD Global Partners, LLC | 825 Third Ave. | 2nd Fl. | NY, NY 10022 | Main 212 308 2864
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 WoundClot Surgical – Advanced Bleeding Control, the Sharps and Needle Destruction Device (SANDD™), and the Carotid Artery Digital Non-Contact Thermometer. Through our United Kingdom based subsidiary, we manufacture and market branded generic pharmaceuticals, certain other generic pharmaceuticals referred to as “specials.” Our real estate leasing revenues are generated from various commercial properties under long-term lease. Additionally, RedHawk’s real estate investment unit holds limited liability company interest in a commercial restoration project in Hawaii. The Company’s financial service revenue is from brokerage services earned in connection with debt placement services. 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.
Thomas J. Concannon, CEO
G. Darcy Klug, Chairman and CFO