1606 Corp. Announces LOI for Potential Transfer of Lufkin, TX Project

What Happened

• 1606 Corp. (ticker: CBDW) filed a Form 8‑K on September 16, 2026 reporting it issued a press release about a non‑binding Letter of Intent (LOI) dated September 6, 2026 with Prime Tex Group, USA.
• The LOI covers Prime Tex’s preliminary interest in evaluating a possible acquisition or assignment of the Company’s contractual rights and interests in the ~132‑acre biomass power and data center development property in Lufkin, Texas, including rights under the existing Purchase and Sale Agreement (PSA).

Key Details

• LOI date: September 6, 2026; 8‑K/press release furnished on September 16, 2026.
• Project size: approximately 132 acres in Lufkin, Texas.
• LOI is expressly non‑binding, non‑exclusive, may be terminated by either party at any time, and is subject to due diligence and execution of definitive agreements.
• LOI scheduled to expire December 31, 2026 unless extended in writing; Company remains free to pursue other strategic alternatives.

Why It Matters

• For investors, this filing signals that 1606 Corp. is engaging with a potential third party (Prime Tex) about transferring the Company’s rights in a major development asset, but no sale or binding agreement has been reached.
• Because the LOI is non‑binding and subject to further negotiation and due diligence, there is no guaranteed transaction, timeline, or proceeds disclosed. The Company also cautioned that forward‑looking statements are included in the press release and noted its common stock is considered a “penny stock,” which affects certain legal safe harbors.