1606 Corp. Increases Promissory Note Principal and Adds Convertible Debt Feature
1606 Corp. has increased the principal of a loan to former CEO Gregory Lambrecht to $1,829,550. The new agreement allows Mr. Lambrecht to convert the loan amount and any unpaid interest into company shares at a 25% discount to the market price, subject to ownership limits. This announcement was published via EDGAR on October 24, 2025.
1606 Corp. has increased the principal amount of a loan with its former CEO, Gregory Lambrecht, to $1,829,550. Under the new agreement, Mr. Lambrecht now has the option to convert the entire loan amount and any unpaid interest into shares of the company at a 25% discount to the market price, subject to ownership limits. 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: 0001477932-25-007743), on October 24, 2025, and is solely responsible for the information contained therein. © Copyright 2025 - Public Technologies (PUBT) Original Document: here
