During Q1, 1606 Corp accomplished several significant milestones. Firstly, the company began trading under the ticker symbol CBDW and successfully launched CBD Singlz, a new product line that has exceeded sales expectations and received positive customer feedback. Secondly, 1606 Corp secured a major distribution partnership, expanding its reach and widening distribution channels.
In Q2, 1606 Corp faced the impact of spin-off shares clearing, which were inherited by SinglePoint Inc shareholders. As a result, the share structure for CBDW expanded and has remained constant at 43,188,519 million outstanding shares. Additionally, in Q2, CBDW closed its second major distribution partnership, further increasing sales and brand awareness.
These milestones reflect 1606 Corp’s dedication to creating value for shareholders, achieving sales growth, and positioning the company for continued success in the upcoming quarters.
Highlights from 2023:
⦁ 1606 Corp Now Trading under Ticker CBDW, Management Announces First Acquisition.
⦁ 1606 Corp. (OTC | CBDW) to Produce a New Inventory of CBD Smokables to Supply an Additional 2500 Retail Outlets, Engages Direct Marketing Expert to Head Efforts.
⦁ 1606 Corp. (OTC | CBDW) Completes Purchase of 51% of CBD Supplier, Brio Nutrition.
⦁ 1606 Corp Announces Pivotal Distribution Deal With a Premier CBD Distributor.
⦁ CBDW Launches Direct-to-Merchant Campaign for CBD Singlz.
⦁ 1606 Corp. Signs Product Distribution Agreement With SurgePays, Inc.
⦁ 1606 Corp Increases Production To Meet CBD Product Demand
⦁ Filed 10Q for the first quarter of 2023 showing improvements and growth.
Looking ahead, 1606 Corp remains focused on driving growth and profitability for the rest of the year. The company plans to significantly increase inventory to meet the demand generated by partnerships with Cool Blue Distribution and Surge Pays, a nasdaq listed company. These partnerships have already contributed to an increase in product placement, and the company expects revenue
to grow substantially as recent marketing campaigns prove successful. CBDW intends to continue investing in marketing and sales efforts, including campaigns like the “Cali Push,” to expand its customer base and enhance brand awareness. Additionally, the company’s management will continue developing and improving product offerings to meet the evolving needs of CBD customers. CBDW will explore potential partnerships and acquisitions that align with its strategic objectives and aims to finalize at least one more acquisition by the end of Q4.
About 1606 Corp;
In April 2021, 1606 Corp. was spun off from Singlepoint Inc. (OTCQB: SING). 1606 has been able to add a variety of CBD products under the Brio Nutrition line, and smokable hemp brands Truz and CBD Singlz. The company intends to acquire Companies in the CBD, including brands, distribution, retail outlets, and manufacturing. 1606 Corp. was awarded the ticker symbol CBDW in mid-January 2023.
Industry Information;
Rates of cannabidiol (CBD) usage in the United States are projected to surge in 2023, according to industry With recent studies suggesting as high as a 10% year-over-year (YoY) increase in usage, Top CBD supplier predicts that 2023 will be a pivotal year for the industry as the widespread adoption of CBD-infused products is set to take place across the health and wellness, beauty, and food and beverage industries. Data from 2022 provides insight into the widespread nature of CBD-infused products. The Center for Advancing Health (CFAH) reported that 26% of Americans used CBD in 2022, and according to ClevelandClinic.org, https://my.clevelandclinic.org/. It is also often marketed toward individuals struggling with anxiety, depression, quitting smoking, fitness recovery, and post-traumatic stress disorder (PTSD).
Forward-Looking Statements
This press release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief, or current expectations of 1606 Corp (the “Company”), its directors, or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control, and actual results may differ materially from those projected in the forward-looking statements as a result of various factors. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties, and other factors, which are, in some cases, beyond the Company’s control and which could, and likely will materially affect actual results, levels of activity, performance, or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the company’s expectations include but are not limited to, those factors that are disclosed under the heading “Risk Factors” and elsewhere in documents filed by the company from time to time with the United States Securities and Exchange Commission and other regulatory authorities.
