YOUNGSVILLE, LA / ACCESSWIRE / August 15, 2016 / RedHawk Holdings Corp. (IDNG) ("RedHawk" or the "Company") announced today that EcoGen Europe LTD ("EcoGen") has received final regulatory certification for the sale and distribution of its branded generics and specials. In connection therewith, the Company also announced that EcoGen has now partnered with Alliance Healthcare, a member of Walgreens Boots Alliance, for the nationwide distribution of its current suite of branded generics to pharmacies and healthcare providers throughout the United Kingdom. Sales of EcoGen's branded generics and specials are expected to commence immediately.
In March 2016, RedHawk signed a definitive agreement through its wholly-owned subsidiary RedHawk Pharma UK LTD to complete the acquisition of a 25% ownership investment in EcoGen, a United Kingdom company specializing in the manufacturing and the marketing of certain branded generic pharmaceuticals and medical devices. Additionally, during the seven-year period commencing on the closing date, the Company has the right, but not the obligation, to increase its ownership position in EcoGen up to a maximum of 49% of the entire capital of Ecogen.
In May 2016, RedHawk announced that its wholly-owned subsidiary, RedHawk Pharma UK, LTD, is in advanced discussions to acquire a United Kingdom based manufacturer of non-narcotic made-to-order or customized medicinal products ("Specials"). Until closing of this acquisition, the Company said this pharmaceutical manufacturer will be EcoGen's provider of certain Specials.
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 Disintegrator™ Insulin Needle Destruction Unit, the Carotid Artery Digital Non-Contact Thermometer and Zonis®. Its 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 various commercial restoration projects 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, CFO
SOURCE: RedHawk Holdings Corp.