REDHAWK HOLDINGS CORP. (OTCMKTS:IDNG) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
On December 11, 2017, RedHawk Holdings Corp. (the “Company” or “RedHawk”) completed a share transfer agreement (“Share Transfer Agreement”) with Scarlett Pharma Limited (“Scarlett”), its affiliate, Warwick Healthcare Limited (“Warwick”) and the shareholders of Scarlett and Warwick.
Under the terms of the Share Transfer Agreement, amongst other consideration, RedHawk Pharma UK Limited (“RedHawk Pharma”), a wholly-owned subsidiary of RedHawk, assumed approximately $370,000 of obligations due to EcoGen Europe Limited (“EcoGen”) by Warwick in exchange for which (i) Warwick transferred to RedHawk Pharma 247,269 preference shares in EcoGen; (ii) Scarlett surrendered 10,000,000 shares of RedHawk common stock (“RedHawk Shares”); and, (iii) the shareholders of Scarlett and Warwick paid RedHawk certain cash consideration.
With the completion of the Share Transfer Agreement, RedHawk Pharma now owns approximately $545,000 of preference shares and 75% of the common shares in EcoGen. The Company said it is evaluating the possibility of converting its EcoGen preference shares into additional common shares to further increase its common stock ownership in EcoGen.
The RedHawk Shares were issued to Scarlett in connection with the Company’s initial March 2016 investment in EcoGen are being returned into the Company’s treasury.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
RedHawk Holdings Corp. ExhibitEX-99.1 2 ex99-1.htm FOR IMMEDIATE RELEASE December 11,…To view the full exhibit click here
About REDHAWK HOLDINGS CORP. (OTCMKTS:IDNG)
Redhawk Holdings Corp., formerly Independence Energy Corp., is a 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. The Company’s segments include Land & Hospitality, Medical Device & Pharmaceutical, and Other Services. The Land & Hospitality, and Other Services segment units operate in the United States. The Medical Device & Pharmaceutical segment operates in the United Kingdom. The Company, through its medical products business unit, sells WoundClot Surgical-Advanced Bleeding Control, the Disintegrator Insulin Needle Destruction Unit, the Carotid Artery Digital Non-Contact Thermometer and Zonis. The Company’s real estate leasing revenues are generated from a commercial property under a long-term lease.
