1606 Corp. Acquires Sim Agro to Power AI Data Centers

PHOENIX, AZ, May 4, 2026 – PRISM MediaWire (Press Release Service – Press Release Distribution) – 1606 Corp. (OTC: CBDW) has announced a definitive agreement to acquire a majority controlling interest in Sim Agro Inc., a global power-plant operations and energy-infrastructure company. Sim Agro generates revenue by operating and consulting on power projects, and this acquisition supports 1606's strategy to develop captive power and data center infrastructure for the artificial intelligence and high-performance computing markets. The transaction is subject to closing conditions, but it marks a major step in the company's evolution toward becoming a vertically integrated infrastructure platform.

1606 Corp. also has a Purchase and Sale Agreement to acquire a Texas power-generation property on approximately 132 acres with a 50,000 sq ft warehouse. This property acquisition is scheduled to close on May 22, 2026. In connection with the Sim Agro transaction, the parties have agreed to a restructuring of an existing lien associated with Sim Agro. Subject to the closing of the property acquisition and the full repayment of a promissory note, the lien is expected to be fully satisfied and removed, effectively reducing the net acquisition cost of the facility by approximately $4.2 million. Upon closing, Sim Agro will serve as the primary operator of 1606's growing portfolio, starting with the Texas property.

Sim Agro brings a global team spanning the U.S., India, South Korea, Europe, and the Middle East, with over 40 years of combined experience in power-generation assets. The acquisition includes $2.5 million in inventory providing immediate working assets. Key transaction highlights include the appointment of Dr. Karthik Raghavan to 1606's Board of Directors and an employment contract for him. The combined company aims to build a platform focused on captive power generation, data-center-ready real estate, and energy solutions for AI and high-density computing. CEO Austen Lambrecht stated that this integration strengthens the company's ability to develop and scale captive power solutions for data-center customers, accelerating their mission to deliver reliable, scalable power worldwide.