Th oughout the past week, ep ese tatives of p ospective cou te pa ties, fi a ci g g oups, data ce te ope ato s, pote tial powe offtake s, e gi ee i g a d i f ast uctu e g oups visited the site.
The meeti gs i cluded discussio s su ou di g seve al pote tial t a sactio st uctu es, i cludi g the acquisitio of the p ope ty a d p oject ights, fi a ci g of the acquisitio a d ecommissio i g of the existi g biomass ge e atio facility, powe offtake a a geme ts, a d pote tial joi t ve tu e st uctu es fo the developme t a d ope atio of data ce te i f ast uctu e at the site.
The Compa y believes the level of activity eflects co ti ued i te est i the combi atio of existi g ge e atio i f ast uctu e, utility co ectivity, i dust ial imp oveme ts a d available la d at the site.
1606 is cu e tly evaluati g multiple paths fo the East Texas p oject a d is co ti ui g discussio s with pa ties that pa ticipated i the ece t meeti gs a d site visits. These discussio s i clude pote tial out ight acquisitio st uctu es, fi a ci g alte atives, st ategic pa t e ships, joi t ve tu es a d powe offtake a a geme ts.
“This was a impo ta t week fo the data ce te p oject,” said Auste Lamb echt, CEO of 1606 Co p. “We had g oups ep ese ti g seve al diffe e t pa ts of the t a sactio p ocess actively evaluati g the site, i cludi g pa ties i te ested i acqui i g o pa ticipati g i the Compa y’s co t actual ights a d i te ests, capital p ovide s a d g oups i te ested i utilizi g the powe fo data ce te ope atio s. Getti g these g oups o the g ou d a d allowi g them to see the facility a d i f ast uctu e fi stha d was a impo ta t step i movi g these discussio s fo wa d.”
Lamb echt co ti ued, “Ou focus ow is seeki g to co ve t the i te est we have ge e ated i to actio able p oposals a d dete mi i g which st uctu e p ovides the st o gest path fo wa d fo the Compa y a d its sha eholde s.”
The East Texas p oject i cludes a existi g biomass powe ge e atio facility a d associated i f ast uctu e o app oximately 132 ac es i Texas. The Compa y’s developme t st ategy has i cluded evaluati g the ecommissio i g of the ge e atio facility alo gside behi d-the-mete data ce te developme t a d suppleme tal utility powe .
1606 i te ds to co ti ue discussio s with seve al of the g oups i volved i the ece t meeti gs a d site visits. The Compa y will p ovide additio al updates as mate ial developme ts occu .
1606 Co p. (OTCID) is focused o pu sui g oppo tu ities at the i te sectio of e e gy i f ast uctu e, a tificial i tellige ce a d data ce te developme t. The Compa y is cu e tly evaluati g multiple pote tial paths i volvi g the East Texas p oject, which may i clude the acquisitio a d developme t of the powe ge e atio facility, fi a ci g, st ategic a a geme ts, pote tial e d-use elatio ships, o a pote tial sale o assig me t of its co t actual i te ests u de the PSA. No pa ticula alte ative has bee selected.
This p ess elease co tai s fo wa d-looki g stateme ts, i cludi g stateme ts ega di g the Compa y’s p oposed acquisitio of the East Texas p oject, fi a ci g, ecommissio i g, epai o edevelopme t of the facility, data ce te a d high-pe fo ma ce computi g pla s, st ategic pa t e ships, pote tial e d-use elatio ships, the Compa y’s capital st uctu e a d othe st ategic alte atives. These stateme ts a e based o cu e t expectatio s a d assumptio s a d i volve isks a d u ce tai ties that could cause actual esults to diffe mate ially.
The e ca be o assu a ce that the Compa y will complete the acquisitio of the p oject, obtai fi a ci g, ecommissio o edevelop the facility, e te i to defi itive ag eeme ts with st ategic pa t e s o e d use s, complete a sale o assig me t of its co t actual i te ests, o othe wise successfully execute a y of the st ategic alte atives cu e tly u de co side atio . The Compa y’s ability to complete the p oposed acquisitio emai s subject to ume ous co ditio s, i cludi g fi a ci g a d the Octobe 31, 2026 closi g deadli e u de the PSA.
Specific isks a d u ce tai ties elati g to the East Texas p oject i clude, amo g othe s, that: the fi a ci g ecessa y to complete the acquisitio has ot bee secu ed; the facility is bei g acqui ed o a “as-is, whe e-is” basis a d may equi e substa tial ecommissio i g, epai , eplaceme t o edevelopme t; the PSA has bee ame ded multiple times a d cu e tly p ovides fo a Octobe 31, 2026 closi g deadli e; the Compa y has i cu ed o – efu dable ea est mo ey a d/o exte sio fees i co ectio with the t a sactio ; a d the e a e pe di g tax a d othe litigatio matte s affecti g the p ope ty a d the Compa y’s ability to obtai clea title.
Reade s a e cautio ed ot to place u due elia ce o fo wa d-looki g stateme ts, which speak o ly as of the date made. The Compa y u de takes o obligatio to update o evise fo wa d-looki g stateme ts except as equi ed by applicable law.
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 upo that safe ha bo with espect to a y fo wa d-looki g stateme ts i this p ess elease.
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.
1606 Co p.Auste Lamb echt, CEO
