Here is the first of many cash infusions. Holding company's grow by exponential numbers. Knowing what you have is the key to success and understand what Klug has done in the past is the keys to the success of our investment. Dollars is correct.
YOUNGSVILLE, LA / ACCESSWIRE / June 29, 2015 / (IDNG) - Independence Energy Corp. ("Independence" or "the Company") announced today that RedHawk Land & Hospitality, LLC, a wholly-owned subsidiary of the Company, has tentatively agreed to acquire from Beechwood Properties, LLC ("Beechwood"), certain commercial real estate currently under long-term lease to the State of Louisiana. Beechwood owns 35.39% of the Company's outstanding common stock, and is owned and controlled by G. Darcy Klug, the Company's Chief Financial Officer.
The property to be acquired was built in the early 1930's and is located in the historic district of Lafayette, Louisiana. The property was acquired by Beechwood in 2008 and following a renovation and restoration completed in 2010, has been under a long-term lease agreement with the 3rd Circuit Court of Appeals for the State of Louisiana.
