Hawkeye Systems Finalizes terms with IKON supplies

Rhea-AI Summary

Hawkeye Systems, Inc. (OTCQB: HWKE) has finalized the terms for the purchase of 100% of IKON Supplies, with a definitive agreement expected to be signed within a week, effective March 1, 2021. CEO Corby Marshall expressed excitement about expanding their team and capabilities. The acquisition will lead to the formation of a trading division focused on PPE and technology sales. Hawkeye aims to shift its development towards technology-based opportunities in response to market changes and plans to pursue additional acquisitions in the PPE sector.

Positive

• Finalized terms for acquiring 100% of IKON Supplies, potentially enhancing operational capabilities.
• Formation of a new trading division focused on PPE and technology sales.
• Strategic shift towards technology-based development opportunities.

Negative

• None.

SAVANNAH, Georgia, Feb. 24, 2021  PR Newswire - Hawkeye Systems, Inc. (OTCQB: HWKE) is pleased to announce that we have finalized the terms of the purchase of 100% of IKON Supplies.  We expect to have a definitive agreement signed in the next seven days, with an anticipated effective date of the transaction to be March 1, 2021.  Corby Marshall, CEO of Hawkeye, commented, "The Hawkeye board and management had a great, in-person meeting with the IKON team in Savannah, Georgia and hashed out the final terms. We are super excited about building out our team, increasing our core competencies, as well as expanding our trading and sourcing capabilities with this experienced, seasoned team." Post-acquisition, Hawkeye will form a trading division that will manage PPE and technology sales. "Hawkeye will refocus most of our development efforts on technology-based opportunities, as we were before the pandemic changed the world around us. We also expect to complete other purchases in the PPE space," he added.

About Hawkeye Systems, Inc.

Hawkeye Systems, Inc. is a technology holding company focused on cutting-edge technology, pandemic management products, and services. Hawkeye is committed to leveraging its resources in its ongoing mission to help our government and medical infrastructure keep civilians, first responders, and military personnel safe.

Forward-Looking Statements

This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to the PPE products and sales, the potential success of the company, our growth strategy, and product development, including that of other statements that are not historical facts. Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition, and stock price. Factors that could cause actual results to differ materially from those currently anticipated are risks related to our growth strategy; risks relating to the results of research and development activities; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; our dependence on third-party suppliers and partners; our ability to attract, integrate, and retain key personnel; the early stage of products under development; our need for substantial additional funds; government regulation; patent and intellectual property matters; competition; as well as other risks described in our SEC filings. Important factors that may cause the actual results to differ from those expressed within may include, but are not limited to: the success or failure of Hawkeye's efforts to successfully market its products and services as scheduled; Hawkeye's ability to attract and retain quality employees; the effect of changing economic conditions; increased competition; the ability of Hawkeye to obtain adequate debt or equity financing. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.

For more information, please contact:

Corby Marshall, CEO
Number: +1 (800) 531-8799
Email: info@hawkeyesystemsinc.com 
Website: hawkeyesystemsinc.com  
Investor relations -  ir@hawkeyesystemsinc.com

 

 

 

View original content:http://www.prnewswire.com/news-releases/hawkeye-systems-finalizes-terms-with-ikon-supplies-301234272.html

SOURCE Hawkeye Systems, Inc.

FAQ

What is the acquisition deal between Hawkeye Systems and IKON Supplies?

Hawkeye Systems has finalized the terms to acquire 100% of IKON Supplies, with an agreement expected to be signed shortly.

When will the acquisition of IKON Supplies by Hawkeye Systems take effect?

The acquisition is anticipated to take effect on March 1, 2021.

What are the plans for the new trading division after acquiring IKON Supplies?

The new trading division will manage PPE and technology sales, indicating a strategic focus on these sectors.

How does the acquisition impact Hawkeye Systems' business strategy?

Hawkeye Systems aims to refocus on technology-based opportunities and expand its efforts in the PPE space post-acquisition.