YOUNGSVILLE, LA / ACCESSWIRE / April 14, 2016 / RedHawk Holdings Corp. (IDNG) ("RedHawk" or the "Company") announced today that it has established the RedHawk Innovation Center (the "Innovation Center") at the Louisiana State University ("LSU") Innovation Park (the "LSU Innovation Park"), a 200 plus acre university research park located five miles south of the main LSU campus in Baton Rouge, Louisiana. The Innovation Center will utilize the available resources of LSU, a Carnegie 1 Research Institution, to help design, develop, manufacture and market the Company's products and technologies, including WoundClot Surgical - Advanced Bleeding Control, the Disintegrator™ Insulin Needle Destruction Unit, the Carotid Artery Non-Contact Thermometer, Zonis®, the Centri Controlled Entry System and the Company's inventory of generic pharmaceutical drugs.
The Innovation Center will have access to LSU researchers, faculty, students, interns, equipment, intellectual property and the vast network of LSU alumni. Additionally, the Company said it expects that the Innovation Center will work closely with the Pennington Biomedical Research Center, the LSU Health Science Center, the Pennington BioTech Initiative and the LSU Emerging Technology Center. The LSU Innovation Park is home to 44 companies and research institutions that employ over 300 people.
Commenting on the Innovation Center, G. Darcy Klug, RedHawk's Chief Financial Officer and an LSU graduate said, "We believe our medical devices and security system are game-changing technologies. We also believe our ever-expanding inventory branded generic drugs may be able to address certain generic drug shortages currently prevalent in the United States. This alliance with the LSU Innovation Park, and the Pennington Biomedical Research Center, will enhance our product development and further improve our testing procedures. Additionally, we are working with representatives from Louisiana Economic Development and the Lafayette Economic Development Authority as we establish our manufacturing and marketing strategies."
Charles D'Agostino, Executive Director of the LSU Innovation Park stated, "We are excited about having Louisiana-based RedHawk Holdings Corp. as a part of our Innovation Park. It represents a strong partnership between the University and this leading edge innovative company whereby groundbreaking technologies are being created and commercialized to benefit the State of Louisiana and offer employment opportunities to our graduates."
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.
Daniel J. Schreiber, CEO
Thomas J. Concannon, COO
G. Darcy Klug, CFO
SOURCE: RedHawk Holdings Corp.