1606 Corp. Signs LOI to Be Acquired by Private Group Seeking to Enter the Public Markets and Utilize AI Technologies for Potential Uplisting
1606 Corp. (OTC Pink:CBDW) has signed a non-binding Letter of Intent (LOI) with a private group led by Jon Garfield and Chuck Arnold for the acquisition of a controlling position in the company for $1 million. The group plans to enter public markets and utilize AI technologies for potential uplisting.
The acquiring group aims to leverage 1606's AI platform to consolidate and innovate in the waste management sector. The transaction, subject to due diligence, regulatory approvals, and definitive agreements, is expected to close in the coming months. Key management is anticipated to remain post-acquisition.
1606's AI platform, which has been successful across CBD, public companies, and other verticals, will be expanded into waste management applications, including waste stream separation and nationwide fleet management. The deal represents a strategic move to combine 1606's AI capabilities with waste management operations.
1606 Corp. (OTC Pink:CBDW) ha firmato una Lettera di Intenti (LOI) non vincolante con un gruppo privato guidato da Jon Garfield e Chuck Arnold per l'acquisizione di una posizione di controllo nell'azienda per 1 milione di dollari. Il gruppo prevede di entrare nei mercati pubblici e di utilizzare tecnologie AI per un possibile uplisting.
Il gruppo acquirente mira a sfruttare la piattaforma AI di 1606 per consolidare e innovare nel settore della gestione dei rifiuti. La transazione, soggetta a due diligence, approvazioni normative e accordi definitivi, dovrebbe chiudersi nei prossimi mesi. Si prevede che la direzione chiave rimanga dopo l'acquisizione.
La piattaforma AI di 1606, che ha avuto successo in vari settori tra cui CBD e aziende pubbliche, sarà ampliata per applicazioni nella gestione dei rifiuti, inclusa la separazione dei flussi di rifiuti e la gestione della flotta a livello nazionale. L'accordo rappresenta una mossa strategica per combinare le capacità AI di 1606 con le operazioni di gestione dei rifiuti.
1606 Corp. (OTC Pink:CBDW) ha firmado una Carta de Intención (LOI) no vinculante con un grupo privado liderado por Jon Garfield y Chuck Arnold para la adquisición de una posición de control en la empresa por 1 millón de dólares. El grupo planea ingresar a los mercados públicos y utilizar tecnologías de IA para un posible uplisting.
El grupo adquirente tiene como objetivo aprovechar la plataforma de IA de 1606 para consolidar e innovar en el sector de la gestión de residuos. La transacción, sujeta a la debida diligencia, aprobaciones regulatorias y acuerdos definitivos, se espera que se cierre en los próximos meses. Se anticipa que la dirección clave permanezca después de la adquisición.
La plataforma de IA de 1606, que ha tenido éxito en CBD, empresas públicas y otros sectores, se ampliará a aplicaciones de gestión de residuos, incluyendo la separación de flujos de residuos y la gestión de flotas a nivel nacional. El acuerdo representa un movimiento estratégico para combinar las capacidades de IA de 1606 con las operaciones de gestión de residuos.
1606 Corp. (OTC Pink:CBDW)는 Jon Garfield와 Chuck Arnold가 이끄는 민간 그룹과 100만 달러에 회사의 지배적 지분 인수를 위한 비구속적 의향서(LOI)를 체결했습니다. 이 그룹은 공공 시장에 진입하고 AI 기술을 활용하여 잠재적인 상장 계획을 세우고 있습니다.
인수 그룹은 1606의 AI 플랫폼을 활용하여 폐기물 관리 분야에서 통합 및 혁신을 목표로 하고 있습니다. 이 거래는 실사, 규제 승인 및 최종 계약에 따라 이루어지며, 향후 몇 개월 내에 완료될 것으로 예상됩니다. 주요 경영진은 인수 후에도 남을 것으로 보입니다.
1606의 AI 플랫폼은 CBD, 공기업 및 기타 분야에서 성공을 거두었으며, 폐기물 스트림 분리 및 전국적인 플릿 관리 등을 포함한 폐기물 관리 애플리케이션으로 확장될 것입니다. 이 거래는 1606의 AI 역량과 폐기물 관리 운영을 결합하기 위한 전략적 움직임을 나타냅니다.
1606 Corp. (OTC Pink:CBDW) a signé une lettre d'intention (LOI) non contraignante avec un groupe privé dirigé par Jon Garfield et Chuck Arnold pour l'acquisition d'une position de contrôle dans l'entreprise pour 1 million de dollars. Le groupe prévoit d'entrer sur les marchés publics et d'utiliser des technologies d'IA pour un éventuel uplisting.
Le groupe acquéreur vise à tirer parti de la plateforme d'IA de 1606 pour consolider et innover dans le secteur de la gestion des déchets. La transaction, soumise à une due diligence, à des approbations réglementaires et à des accords définitifs, devrait se conclure dans les mois à venir. La direction clé devrait rester après l'acquisition.
La plateforme d'IA de 1606, qui a connu du succès dans les domaines du CBD, des entreprises publiques et d'autres secteurs, sera étendue aux applications de gestion des déchets, y compris la séparation des flux de déchets et la gestion de flotte à l'échelle nationale. L'accord représente un mouvement stratégique pour combiner les capacités d'IA de 1606 avec les opérations de gestion des déchets.
1606 Corp. (OTC Pink:CBDW) hat ein nicht verbindliches Absichtsschreiben (LOI) mit einer privaten Gruppe unter der Leitung von Jon Garfield und Chuck Arnold unterzeichnet, um eine kontrollierende Position im Unternehmen für 1 Million Dollar zu erwerben. Die Gruppe plant den Eintritt in die öffentlichen Märkte und die Nutzung von KI-Technologien für ein mögliches Uplisting.
Die erwerbende Gruppe zielt darauf ab, die KI-Plattform von 1606 zu nutzen, um im Bereich der Abfallwirtschaft zu konsolidieren und zu innovieren. Die Transaktion, die einer Due Diligence, behördlichen Genehmigungen und endgültigen Vereinbarungen unterliegt, wird voraussichtlich in den kommenden Monaten abgeschlossen. Es wird erwartet, dass das Schlüsselmanagement nach der Übernahme bleibt.
Die KI-Plattform von 1606, die in den Bereichen CBD, öffentliche Unternehmen und anderen Sektoren erfolgreich war, wird auf Anwendungen im Bereich der Abfallwirtschaft ausgeweitet, einschließlich der Trennung von Abfallströmen und dem nationalen Flottenmanagement. Der Deal stellt einen strategischen Schritt dar, um die KI-Fähigkeiten von 1606 mit den Abläufen der Abfallwirtschaft zu kombinieren.
- Acquisition offer values controlling stake at $1 million
- Company's AI technology to be expanded into new waste management applications
- Key management retention provides operational continuity
- Potential uplisting opportunity through new ownership structure
- LOI is non-binding with final terms still to be negotiated
- Acquisition price specifics not yet determined
- Deal completion subject to multiple conditions and approvals
SEATTLE, WASHINGTON / ACCESS Newswire / March 11, 2025 / (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
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
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Company Contact:
Austen Lambrecht
CEO, 1606 Corp.
austen@1606corp.com
cbdw.ai
SOURCE: 1606 Corp.
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