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Completion of Any Acquisition Remains Subject to, Among Other Things, the Negotiation and Execution of a Definitive Agreement and Satisfaction of Closing Conditions
LAFAYETTE, LA / ACCESSWIRE / August 21, 2020 / RedHawk Holdings Corp. (OTC PINK: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 been in discussions to potentially acquire certain cannabis assets including licenses to grow, manufacture and sell in the State of Oklahoma, with an anticipated initial focus on "craft" cultivation and distribution of product.
The Company anticipates a short but comprehensive due diligence period. A closing, if any, is expected to occur before December 31, 2020 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.
Accordingly, RedHawk cannot provide any assurance that a definitive agreement will be reached on acceptable terms or at all, that due diligence will be satisfactory, that the required acquisition financing will be obtained by RedHawk on acceptable terms or at all, or that the acquisition will ultimately be completed in any particular time frame or at all.
About RedHawk Holdings Corp.
RedHawk Holdings 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, including any potential completion of the acquisition of the cannabis assets described herein, may differ materially from that projected or suggested herein due to certain risks and uncertainties including, but not limited to, 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. 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.
G. Darcy Klug, Chairman and CFO
Philip C. Spizale, CEO
Stephanie Prince, Managing Director
Valerie Allen Public Relations
SOURCE: RedHawk Holdings Corp.
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