1606 Corp. signs definitive agreement to acquire 51% of Sim Agro Inc. for stock and assumed debt

1606 CORP.

Acquiring 51% of Sim Agro; consideration: 150M shares at closing plus 100M shares or $2.1M cash in Jan 2027.
Will assume ~$2.32M trade payable, restructured via $422K promissory note (10%, 18 mo) and 25M shares to ENMAS.
Dr. Karthik Raghavan, Sim Agro sole stockholder, to join 1606 board and become employee at closing.
Transaction supports captive power/data center infrastructure for AI; separate TX property PSA closing May 22.
Closing conditions include FINRA approval, no governmental prohibition, no material adverse effect, within 120 days.

item 1.01 item 7.01 item 9.01

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 Agreement and Plan of Stock Exchange with Sim Agro Inc. (effective 2026-05-02).

Action: entry
Agreement: merger
Counterparty: Sim Agro Inc.
Effective: 2026-05-02

Exact text from the filing

On May 2, 2026, 1606 Corp., a Nevada corporation (the “ Company ”), and Sim Agro Inc., a Texas corporation (“ Sim Agro ”), entered into an Agreement and Plan of Stock Exchange (the “ Agreement ”), pursuant to which the Company will acquire a majority interest in Sim Agro through a strategic stock exchange transaction.

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1606 CORP. filing history →

Source: SEC EDGAR

accession 0001477932-26-002719

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