1606 Corp. amends promissory note with 50% discount conversion; director resigns

1606 CORP.

Extended maturity of $2.04M promissory note to Dec 31, 2026; conversion price set at 50% discount to closing bid price.
Holder (former CEO Gregory Lambrecht) can convert principal and accrued interest into common stock, subject to 9.99% beneficial ownership cap.
Director Venu Aravamudan resigned effective July 21, 2026; no disagreement with company; board reduced to two members, vacancy unfilled.

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