Hawkeye Systems Announces Letter of Intent to Acquire IKON Supplies
Hawkeye Systems, Inc. (OTCQB: HWKE) (“Company”), a technology holding company focused on pandemic management products and services, is pleased to announce today it has signed a Letter of Intent (LOI) to acquire IKON Supplies, an FDA a3nd CDC registered global trading company specializing in Personal Protective Equipment (PPE) supply chain management.
Corby Marshall, CEO of Hawkeye Systems, stated, “Over the past year, we have worked closely with IKON management as partners on a variety of successful procurement transactions. During this time, we witnessed firsthand the power of their supply chain relationships combined with their significant ability to drive and sustain long-term growth, evidenced by IKON’s multiple long-term supply contracts expected to drive exponential value for Hawkeye upon consolidation in Q1 2021. We look forward to adding notable industry-leading management as we continue our focus on realizing long-term shareholder appreciation.”
CEO of IKON Supplies, Johnny Thomas, added, “This is a transformational moment for the health care industry, with new realities in a COVID-19 world that require decisive and concrete supply chain management and direct to factory relationships. We are excited to formalize our union with an established reputable PPE provider in Hawkeye over the coming weeks, forming a seasoned management team with a collective history of building trailblazing companies across a wide spectrum of industries. We believe this partnership will solidify the consolidated Company as a premier provider of PPE equipment catering to all industry verticals.”
Upon completion of the acquisition, Hawkeye will acquire a 51% interest of all equity of Ikon Supplies LLC and an option to purchase the remaining 49% interest. This LOI is non-binding and subject to a definitive agreement, which will be negotiated in good faith in the next 30 days. Ikon financials are currently unaudited and expected to be audited in Q1 2021.
About Hawkeye Systems, Inc.
Hawkeye Systems, Inc. is a technology holding company focused on cutting edge technology, pandemic management products, and services. The Company is committed to leveraging its extensive resources to support its ongoing mission to help our government and medical infrastructure keep civilians safe.
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 body camera system, the potential success of the body camera system, our growth strategy and product development including PPE, any technology related to our sales pipeline, and any 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.
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