1606 Corp. reports developments around its AI-focused technology business, corporate strategy, and public-company disclosures. Company materials describe AI-powered conversational and customer engagement solutions, along with a strategy centered on data-center-ready facilities with captive power for AI and high-performance computing demand.
Recurring updates for CBDW include material agreements, capital-structure actions, governance matters, operating and financial results, regulatory-standing disclosures, and management commentary on platform development and strategic priorities.
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1606 Corp (OTC: CBDW) has announced a new product distribution agreement with Cool Blue Distribution, effective April 1, 2023. This partnership aims to significantly boost CBDW's revenue, with estimates suggesting a potential doubling or tripling. Shannon Shell, CEO of Brio Nutrition, noted that this collaboration aligns with the company's strategic growth goals. Brio Nutrition offers a range of CBD products aimed at improving health and wellness. With rising CBD usage projected for 2023, this deal positions CBDW to capitalize on the growing market for CBD-infused products.
1606 Corp (OTC: CBDW), a CBD wellness company, will participate in the Roth Investor Conference from March 12-14, 2023. CEO Greg Lambrecht plans to meet with investment bankers and retail investors to discuss capital provisions. The Roth Conference is a prominent event for small-cap companies, featuring company presentations and management meetings. 1606 Corp aims to uplist to a national exchange within 24 months, supported by its acquisition-based strategy and a portfolio of over 45 retail CBD products. The company is DTC eligible, meaning its shares are freely tradable under U.S. regulations.
On March 8, 2023, 1606 Corp (OTC: CBDW) announced the signing of a definitive letter of understanding to acquire 51% of the Indian nutraceutical firm, Sanctum Herbal Corp, for $7.2 million in cash and stock. The acquisition aims to enhance CBDW's revenue and expedite its listing on a national exchange. The deal includes exclusive international distribution rights and access to $7 million in inventory, targeting markets in the US, Mexico, and India for Q2 2023. The partnership promises collaboration with a team of esteemed scientists to develop organic nutraceutical products efficiently.
1606 Corp (OTC: CBDW) has successfully completed the acquisition of 51% of Brio Nutrition, a profitable CBD development and distribution company, significantly enhancing its product lineup with over 45 new offerings. Brio Nutrition reported revenues of approximately $760,000 in 2021, with expectations for substantial growth following this partnership. The collaboration allows 1606 Corp to leverage Brio's customer data and distribution channels for cross-marketing efforts. CEO Greg Lambrecht highlighted that this acquisition aligns with their strategy to expand and capitalize on the growing CBD market, aiming for a NASDAQ listing within the next 24 months.
1606 Corp (OTC: CBDW), an acquisition-driven CBD firm, announced significant developments after its first month of trading under the CBDW ticker. The company secured inventory for an additional 2,500 stores and awaits the finalization of an agreement to acquire 51% of Brio Nutritionals. With $20 million in financing available for acquisitions, management is optimistic about future growth. Participation in the Total Product Expo in Las Vegas has opened new acquisition discussions. The CBD industry is projected to grow significantly in 2023, suggesting a promising environment for 1606 Corp's strategic initiatives.
1606 Corp (OTC: CBDW) announced an Equity Financing Agreement with GHS Investments LLC, providing up to $20,000,000 for acquisitions. GHS will buy shares at 80% of the market price and 90% post NASDAQ uplisting, with a price floor of $2.00 per share. The funds will be used to acquire and develop additional CBD brands and distribution networks, aiming to enhance shareholder value. CEO Greg Lambrecht stated the financing will facilitate growth in the CBD market, which was valued at $12.8 billion in 2021 and projected to grow significantly in the coming years.
On February 6, 2023, SinglePoint announced the trading launch of its spinoff, 1606 Corp. (OTC:CBDW), which was formed as a 1-for-1 distribution to shareholders of SinglePoint. 1606 Corp. focuses on health and wellness products, consolidating the fragmented CBD industry through acquisitions. CEO Wil Ralston expressed optimism about the spinoff, citing opportunities for revenue growth and profit margin improvement. SinglePoint aims to streamline operations and concentrate on its core business in solar energy and indoor air purification, leveraging federal funding for sustainable solutions.
On February 1, 2023, 1606 Corp (OTC: CBDW) announced a direct marketing campaign aimed at expanding the retail reach of its CBD products, particularly its smokable CBD SINGLZ. The company plans to supply an additional 2,500 retail locations, capitalizing on market gaps left by flavor bans on vaping products. CEO Greg Lambrecht highlighted his extensive retail experience, having worked with over 30,000 stores. The campaign is led by marketing veteran Brent Duskin, who brings a wealth of experience in direct marketing. The CBD market is projected to grow significantly, underscoring the potential for 1606 Corp's expansion efforts.