1606 Corp. agrees to buy Texas property for $11.2M in cash plus assumed lien

1606 CORP.

Purchase price $11,168,864: $7M cash at closing plus assumption of mechanic's lien.
$250,000 earnest money deposited; nonrefundable except if seller fails to perform.
Closing scheduled April 15, 2026; property sold on an AS-IS, WHERE-IS basis.
Property in Angelina County, TX includes land, improvements, equipment, and permits.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

1606 CORP. entered into Purchase and Sale Agreement with Jefferson Enterprise Energy, LLC valued at $11,168,864 (effective 2026-03-12).

Action: entry
Agreement: asset purchase
Counterparty: Jefferson Enterprise Energy, LLC
Value: $11,168,864
Effective: 2026-03-12

Exact text from the filing

On March 12, 2026, 1606 Corp., a Nevada corporation (the " Company "), entered into a Purchase and Sale Agreement (the " Agreement ") with Jefferson Enterprise Energy, LLC, a Texas limited liability company (" Seller "), pursuant to which the Company agreed to purchase certain real property located in Angelina County, Texas, including land, improvements, equipment, permits, warranties and related documents (collectively, the " Property "). The total purchase price for the Property is $11,168,864, consisting of (i) $7,000,000 in cash payable at closing and (ii) the Company's assumption of a mechanic's and materialman's lien recorded as Instrument No. 2025-00458298 in the Official Public Records of Angelina County, Texas (the " Sim Agro Lien ").

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1606 CORP. filing history →

Source: SEC EDGAR

accession 0001477932-26-001322

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