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REDHAWK ACQUIRES STAKE IN TIGRESS ENERGY PARTNERS


FOR IMMEDIATE RELEASE                           SEPTEMBER 26, 2016

Media Contact:
Julie Calzone
(337) 235-2924
jcalzone@calzone.com

Company Contacts:
Thomas J. Concannon, CEO
(908) 625-7811
tom.concannon@redhawkholdingscorp.com

G. Darcy Klug, CFO
(337) 269-5933
darcy.klug@redhawkholdingscorp.com

 

 

REDHAWK ACQUIRES STAKE IN TIGRESS ENERGY PARTNERS

 

Youngsville, Louisiana – RedHawk Holdings Corp. (OTCQB: IDNG) (“RedHawk” or the “Company”) announced today it has agreed to acquire up to a 25% interest in Marlin USA Energy Partners, LLC (“Marlin”), the minority owner of Tigress Energy Partners, LLC (“TEP”). The majority ownership of TEP is held by Tigress Holdings, LLC, a limited liability company majority-owned by Cynthia DiBartolo, Chief Executive Officer of Tigress Financial Partners LLC (“TFP”). 

TEP is a limited liability company formed for the purpose of investing up to $250 million of institutional capital focused on the exploration and production of oil and gas reserves in the south and southwest regions of the United States. Management duties of TEP are handled by Ms. DiBartolo and industry veteran, Michael Robinson. 

TFP is an investment banking, brokerage and specialized financial services firm providing expertise in investment banking, investment research, asset management, wealth management, corporate advisory and trade execution services. TFP provides services to corporate entities, institutional investors, high net worth individuals, public and private pensions, and federal, state and municipal governments.

Ms. DiBartolo is responsible for the overall strategic direction and leadership of TEP, including client relationships, marketing, product development, human capital development and financial management.  

Mr. Robinson brings a stellar track record in the energy sector. Over the past five years, energy funds managed by Mr. Robinson have achieved internal rates of return between 10% and as high as 66%. Under his direction, these funds have discovered hydrocarbons in Louisiana, Texas, Oklahoma and California. Utilizing innovative drilling and cost saving methods, the performance by Mr. Robinson’s funds have greatly surpassed industry standards. Mr. Robinson has thirty years of experience as an independent operator, investor and mineral owner. Between 2007 and 2015, he was President of Gulf Coast Mid West Energy Partners, engaged in the exploration and production of oil and gas reserves in Texas, Louisiana and the mid-continent regions of the United States. Mr. Robinson owns the majority of Marlin.

Commenting on this new investment, the Company said, “We believe the decline of energy sector has bottomed. While there may still be a period of time before the sector actually improves significantly, we believe the timing is right to now enter this market. TEP partners and key team members have been responsible for more than $500 million in structured transactions ranging from asset acquisitions and project financings to start-up ventures. Coupled with the industry experience of RedHawk’s key managers, we believe the timing of this transaction now offers RedHawk shareholders a very interesting and strategic investment opportunity.”

 

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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 services revenue is from brokerage services earned in connection with debt placement services and investments in oil and gas exploration and production. 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.