YOUNGSVILLE, La., Feb. 21, 2017 (GLOBE NEWSWIRE) -- RedHawk Holdings Corp. (OTCQB:IDNG) (“RedHawk” or the “Company”) announced today it is expanding its medical device warehousing and administrative offices 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 Company said it hopes to complete the expansion of its innovation center offices by March 31, 2017 to address expected increased domestic and international demand for its medical devices.
The Company announced in April 2016 that it had established the RedHawk Innovation Center to have access to LSU researchers, faculty, students, interns, equipment, intellectual property, and the vast network of LSU alumni.
Commenting on the expansion of its medical device offices at the LSU Innovation Park, G. Darcy Klug, RedHawk’s Chairman and an LSU alumnus said, “The expansion of our medical device warehousing and administrative offices at the LSU Innovation Park permits the consolidation of our medical device administration, development, testing, warehousing, quality control, manufacturing, assembly and distribution capabilities. This consolidation also allows us to work closer on new product development with the Pennington Biomedical Research Center, the LSU Health Science Center, the Pennington BioTech Initiative, the LSU Emerging Technology Center and more than 44 companies and research institutions located at the LSU Innovation Park. We are exposed to new medical devices on a regular basis. This expansion and consolidation will allow us to improve our medical device administrative and operating efficiency and it will help increase our focus on new product development. We believe we are now better positioned to capitalize on the various medical device opportunities that are currently being offered to us.”
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, 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, Chairman and CFO
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