RedHawk Pharma LLC is in negotiations to purchase undisclosed cannabis assets in Oklahoma.

The news was announced Friday by parent company RedHawk Holdings Corp. (OTC: SNDD), a diversified holding company focused on sales and distribution of medical devices.

According to the press release, specific cannabis assets include licenses to grow, manufacture, and sell within the state.

The company stressed that the focus is on "craft" cultivation as well as the distribution of product.

The potential deal closing would take place before the year-end.

It is subject to the approval of RedHawk's board of directors as well as acceptance and approval by the seller's board of directors and shareholders, among others.

The Lafayette, Louisiana-based company is also engaged in sales of branded generic pharmaceutical drugs, while it has its fair share in commercial real estate investment as well.

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