The Compa y co ti ues to adva ce multiple wo kst eams i pa allel as it wo ks towa d completi g the acquisitio a d positio i g the Lufki site fo AI, high-pe fo ma ce computi g (“HPC”) a d othe la ge-load data ce te powe use s.
As p eviously a ou ced, 1606 e gaged MDM G oup LLC to ide tify, qualify a d i t oduce p ospective lo g-te m capacity off-take s, AI a d HPC ope ato s, st ategic pa t e s a d pote tial pu chase s fo the Lufki p oject.
MDM has begu p ese ti g the oppo tu ity to its etwo k of hype scale ope ato s, AI compute compa ies, i f ast uctu e i vesto s a d othe p ospective cou te pa ties. The p ocess is i te ded to ide tify pote tial e d use s fo the site’s existi g powe i f ast uctu e while also evaluati g st ategic alte atives that could i clude a off-take a a geme t, joi t ve tu e, o pote tial sale o assig me t of 1606’s co t actual i te est i the p oject. The e ca be o assu a ce that these effo ts will esult i a y t a sactio .
The Compa y believes secu i g a c edible e d use o st ategic pa t e ep ese ts a impo ta t compo e t of the lo g-te m developme t st ategy fo Lufki .
1606 has also adva ced the ope atio al side of the p oject by e gagi g a expe ie ced powe -ge e atio se vices compa y to suppo t the pla ed ope atio a d ecommissio i g of the app oximately 55 MW biomass facility. The Compa y expects to p ovide additio al details ega di g the e gageme t a d fo mally ide tify the powe -ge e atio se vices p ovide as the p oject adva ces a d app op iate disclosu e milesto es a e eached.
The g oup has p ovided 1606 with a detailed ope atio s a d mai te a ce pla cove i g key a eas i cludi g staffi g, mobilizatio , pla t ope atio s, mai te a ce a d the t a sitio towa d full ope atio al espo sibility followi g completio of the acquisitio .
This wo kst eam is bei g adva ced alo gside the Compa y’s pla s to utilize the facility’s ge e atio capabilities to suppo t behi d-the-mete powe fo data ce te , AI a d othe high-pe fo ma ce computi g i f ast uctu e.
1606 also ece tly completed its latest qua te ly SEC epo ti g equi eme ts, p ovidi g i vesto s with updated disclosu e ega di g the Compa y’s ope atio s, fi a cial positio a d o goi g developme t activities.
The Compa y co ti ues wo ki g towa d completio of the Lufki acquisitio u de its existi g pu chase ag eeme t, which cu e tly p ovides fo a closi g o o befo e Octobe 31, 2026. The scheduled closi g date has bee exte ded o multiple occasio s, a d completio of the acquisitio emai s subject to the Compa y obtai i g fi a ci g, which has ot yet bee secu ed. The Compa y has paid substa tial o – efu dable amou ts u de the pu chase ag eeme t that a e ot c edited to the pu chase p ice a d that will be fo feited if the acquisitio is ot completed.
Ma ageme t is simulta eously pu sui g fi a ci g, pla t ecommissio i g pla i g, e d-use a d off-take discussio s, a d st ategic alte atives fo the p oject.
“We a e ow movi g seve al impo ta t pieces of the st ategy fo wa d at the same time,” said Auste Lamb echt, CEO of 1606 Co p
Lamb echt co ti ued, “The combi atio of existi g ge e atio i f ast uctu e, behi d-the-mete powe pote tial, substa tial ac eage a d a existi g i dust ial facility gives us seve al pote tial paths to c eate value. Ou focus ow is executio – completi g the acquisitio , adva ci g the ope ati g pla a d co ve ti g the comme cial i te est i the data ce te site i to actio able pa t e ships a d t a sactio s.”
The Lufki p oject co sists of a app oximately 132-ac e i dust ial campus i East Texas ce te ed a ou d a app oximately 55 MW biomass ge e atio facility a d existi g i dust ial i f ast uctu e. 1606’s st ategy is to evaluate the site’s existi g ge e atio a d elect ical i f ast uctu e fo the developme t of behi d-the-mete powe solutio s suppo ti g AI, HPC, data ce te a d othe powe -i te sive applicatio s.
The Compa y is evaluati g multiple comme cializatio st uctu es, i cludi g di ect developme t, lo g-te m capacity off-take a a geme ts, st ategic joi t ve tu es a d a pote tial sale of the p oject.
1606 Co p. (OTCID:CBDW) is focused o ide tifyi g a d developi g i f ast uctu e oppo tu ities at the i te sectio of powe ge e atio , powe ed eal estate a d a tificial i tellige ce. The Compa y’s st ategy i cludes acqui i g a d epositio i g e e gy a d i dust ial assets capable of suppo ti g the apidly g owi g powe equi eme ts of AI data ce te s a d high-pe fo ma ce computi g i f ast uctu e.
This p ess elease co tai s fo wa d-looki g stateme ts withi the mea i g of applicable secu ities laws, i cludi g stateme ts ega di g the p oposed acquisitio of the Lufki facility, fi a ci g, ecommissio i g, futu e powe ge e atio , pote tial data ce te developme t, p ospective off-take s, st ategic pa t e ships a d othe pote tial t a sactio s. Because the Compa y’s commo stock is co side ed a “pe y stock,” the safe ha bo fo fo wa d-looki g stateme ts p ovided by the P ivate Secu ities Litigatio Refo m Act of 1995 is ot available to the Compa y, a d the Compa y does ot ely o it. These stateme ts a e based o cu e t expectatio s a d assumptio s a d i volve sig ifica t isks a d u ce tai ties that could cause actual esults to diffe mate ially. I pa ticula , completio of the Lufki acquisitio emai s subject to the Compa y obtai i g fi a ci g, which has ot bee secu ed; the scheduled closi g date has bee exte ded o multiple occasio s; a d the Compa y has paid substa tial o – efu dable amou ts u de the pu chase ag eeme t that a e ot c edited to the pu chase p ice a d that will be fo feited if the acquisitio is ot completed. The e ca be o assu a ce that the acquisitio will be completed, that fi a ci g will be obtai ed, that the facility will be ecommissio ed, o that a y p ospective off-take, joi t ve tu e, sale o othe t a sactio will be completed. Reade s a e cautio ed ot to place u due elia ce o these fo wa d-looki g stateme ts, which speak o ly as of the date he eof. 1606 Co p. u de takes o obligatio to update fo wa d-looki g stateme ts except as equi ed by applicable law.
This p ess elease is fo i fo matio al pu poses o ly a d does ot co stitute a offe to sell, o the solicitatio of a offe to buy, a y secu ities, o shall the e be a y sale of secu ities i a y ju isdictio i which such offe , solicitatio o sale would be u lawful. A y offe of secu ities will be made o ly by mea s of a p ospectus meeti g the equi eme ts of the Secu ities Act of 1933, as ame ded, o a applicable exemptio the ef om.
