1606 Corp terminates May 2, 2026 deal to buy 51% of Sim Agro; no closing, no shares issued, no termination fee

1606 CORP.

• Termination and Mutual Release Agreement dated Sept 28, 2026 mutually terminates the May 2, 2026 Exchange Agreement under which 1606 would have acquired 51% of Sim Agro on a fully-diluted basis.
• Closing never occurred and no 1606 or Sim Agro shares were issued and no consideration paid; Pre-Closing Documents, including the $422,322 Debt Note, are void ab initio and rescinded.
• No termination fee or early-termination penalty payable by 1606; each party bears its own costs and expenses.
• Sim Agro remains solely liable for ENMAS EPC Power Projects debt and must indemnify 1606 and advance defense costs for any ENMAS claim, including any effort to enforce the Debt Note.
• Creditor rights tied to ENMAS, Jefferson Enterprises and power plant assets are preserved for future talks; Novation signatories Alur Chakrapani and Karthik Raghavan consented to cancel the novation.