Seattle, WA -- March 11, 2025 -- InvestorsHub NewsWire -- 1606
Corp. (OTC
Pink: CBDW), a pioneer in AI-powered
IR, is pleased to announce that it has signed a non-binding
Letter of Intent (LOI) with a private group led by Jon Garfield and
Chuck Arnold which is focused on acquiring waste management
companies, to acquire a controlling position in the Company for $1
million. This agreement marks a significant milestone for 1606
Corp. as the group moves to acquire a controlling position in the
Company for $1 million, with consideration specifics to be
negotiated at a later date in definitive agreements. It is
anticipated that key management within 1606 Corp. will remain with
the Company post-acquisition.
In addition to the purchase of a proposed controlling position
in 1606 Corp, Messrs. Arnold and Garfield have unveiled plans to
begin acquiring waste management companies as part of their
strategy to consolidate smaller firms within the market. This move
aligns with their broader vision to expand into new markets and
capitalize on the growing demand for sustainable and efficient
waste management solutions. 1606 Corp’s existing AI solutions would
also be leveraged to further enhance the waste management
industry.
The non-binding LOI outlines the terms under which the group
will pursue the acquisition of 1606 Corp, with the goal of
utilizing the Company’s expertise and resources to drive growth and
deliver greater value to stakeholders. The transaction, which is
subject to customary due diligence, regulatory approvals, and
execution of definitive agreements, is expected to close in the
coming months.
The acquisition of the controlling position would provide the
group with a public company to expand into waste management, while
enabling them to tap into an industry that is vital to
environmental sustainability and urban development. The group would
also use 1606 Corp.’s AI technologies to innovate within the waste
management sector.
1606 has developed a cutting-edge AI platform and launched
successful applications across a range of industries, including
CBD, public companies, and other verticals. The platform is now
poised for expansion into the waste management sector, where we aim
to pioneer new technologies for waste stream separation and the
management of a nationwide fleet of trucks. Our AI platform
continues to attract strategic partners, offering them the
opportunity to leverage advanced AI to maximize their market
potential and drive innovation in their industries.
We believe this proposed acquisition of a controlling position
would position 1606 Corp. for continued success, with a strong
commitment to preserving its culture and building upon its existing
strengths. Messrs. Arnold and Garfield believe that their strategic
vision would drive substantial growth, create new opportunities,
and elevate 1606 Corp.’s standing in the market.
About Chuck Arnold and Jon Garfield
Chuck Arnold and Jon Garfield are respected entrepreneurs with
extensive experience across a range of industries, including the
public company sector. Jon Garfield was instrumental in the
consolidation of private charter bus companies into a more
streamlined Coach system, modernizing transportation services
across various regions. This strategy will be applied to the waste
management industry as part of their acquisition approach. Both
Arnold and Garfield are recognized for their strategic insight,
hands-on leadership, and commitment to fostering innovation within
the businesses they acquire and operate.
About 1606 Corp.
1606 Corp. stands at the forefront of technological innovation,
particularly in AI Chatbots. Our mission is to revolutionize
customer service, addressing the most significant challenges faced
by consumers in the digital marketplace. We are dedicated to
transforming the IR industry through cutting-edge AI centric
solutions, ensuring a seamless and efficient customer experience.
As a visionary enterprise, 1606 Corp. equips businesses with the
advanced tools they need to excel in the competitive digital
landscape. Our commitment to innovation and quality positions us as
a leader in the field, driving the industry forward and setting new
benchmarks for success and customer satisfaction.
For more information, please visit cbdw.ai.
Industry Information
The global AI market, valued at $428 billion in 2022, is
anticipated to reach $2.25 trillion by 2030, with a compound annual
growth rate (CAGR) ranging from 33.2% to 38.1%. The sector is
expected to employ 97 million individuals by 2025, reflecting its
expansive and significant impact. This potential growth presents a
compelling opportunity for investors and industry professionals
interested in the AI sector.
Forward-Looking Statements
This press release contains "forward-looking statements" that
include statements regarding expected financial performance and
growth information relating to future events. Forward-looking
statements include statements with respect to beliefs, plans,
objectives, goals, expectations, anticipations, assumptions,
estimates, intentions, and future performance, and involve known
and unknown risks, uncertainties and other factors, which may be
beyond the control of the Company and its officers and managers,
and which may cause actual results, performance or achievements to
be materially different from future results, performance or
achievements expressed or implied by such forward-looking
statements. Forward-looking statements should not be read as a
guarantee of future performance or results and will not necessarily
be accurate indications of the times at, or by which, that
performance or those results will be achieved. Forward-looking
statements are based on information available at the time they are
made and/or management's good faith belief as of that time with
respect to future events and are subject to risks and uncertainties
that could cause actual performance or results to differ materially
from those expressed in, or suggested by, the forward-looking
statements. Important factors that could cause these differences
include, but are not limited to; inability to gain or maintain
licenses, reliance on unaudited statements, the Company's need for
additional funding, governmental regulation of the cannabis
industry, the impact of competitive products and pricing, the
demand for the Company's products, and other risks that are
detailed from time-to-time in the Company's filings with the United
States Securities and Exchange Commission. All statements other
than statements of historical fact are statements that could be
forward-looking statements. You can typically identify these
forward-looking statements through use of words such as "may,"
"will," "can" "anticipate," "assume," "should," "indicate,"
"would," "believe," "contemplate," "expect," "seek," "estimate,"
"continue," "plan," "point to," "project," "predict," "could,"
"intend," "target," "potential," and other similar words and
expressions of the future. The Company expresses its expectations,
beliefs and projections in good faith and believes that its
expectations reflected in these forward-looking statements are
based on reasonable assumptions. However, there is no assurance
that these expectations, beliefs and projections will prove to have
been correct. Such statements reflect the current views of the
Company with respect to its operations and future events, and are
subject to certain risks, uncertainties and assumptions relating to
its proposed operations, including the risk factors set forth
herein. Should one or more of these risks or uncertainties
materialize or should the underlying assumptions prove incorrect,
the Company's actual results may vary significantly from those
intended, anticipated, believed, estimated, expected or planned. In
light of these risks, uncertainties and assumptions, any favorable
forward-looking events discussed herein might not be realized and
occur. The Company has no obligation to update or revise its
forward-looking statements, whether as a result of new information,
future events or otherwise. For a more detailed description of the
risk factors and uncertainties affecting GPO Plus, Inc. GPOX,
please refer to the Company's recent Securities and Exchange
Commission filings, which are available at www.sec.gov. The Company
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events, or otherwise.
Company Contact:
Austen Lambrecht
CEO, 1606 Corp.
austen@1606corp.com
cbdw.ai
SOURCE: 1606 Corp.
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