1606 Corp issued an update after its first 30 days of trading on the OTC starting from January 17, which follows a spin-off from SinglePoint Inc (OTC:SING) in April 2021.
"It's only been a little more than a month, and we've already come so far as a company,” CEO Greg Lambrecht said in a statement. “I'm pleased that we have access to $20 million in financing to draw from which we're excited to use to acquire CBD companies.”
The company previously signed a letter of intent with Brio Nutritionals to purchase 51% of the company. Terms have been verbally agreed on and 1606 Corp is waiting for Brio's signature.
Meanwhile, 1606 management attended the premiere CBD product showcase on February 24 at the Las Vegas Convention Center, and the company is currently in talks with several companies regarding acquiring their businesses.
A spinoff of SinglePoint, 1606 Corp acquires and develops CBD brands including Truz and CBD Singlez.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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