1606 Corp amends promissory note with ex-CEO, extends maturity to Dec. 31, 2026

Reuters2026/07/24 21:02

By:Reuters

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1606 Corp. amended and restated a promissory note held by former CEO Gregory Lambrecht, extending maturity to Dec. 31, 2026.
Outstanding principal was $2.04 million as of March 31, 2026.
Holder can convert all accrued interest and principal into common stock at a 50% discount to the closing bid price.
Conversions remain capped to keep beneficial ownership below 9.99%, never 10% or more, subject to a 61-day notice for increases.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. 1606 Corp. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001477932-26-004503), on July 24, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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1606 Corp amends promissory note with ex-CEO, extends maturity to Dec. 31, 2026

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