PHOENIX, May 9, 2023
/PRNewswire/ -- 1606 Corp. (OTC: CBDW), an acquisition-based
CBD holding company today announced that the company closed a
distribution deal with SurgePays, Inc. (Nasdaq: SURG). Under this
agreement, SurgePays has agreed to distribute 1606 Corp.'s Hemp
smokable products to its thousands of registered retail store
customers.
SurgePays has already taken possession of 1,000 six-pack
displays and is currently distributing them to registered retail
store customers. 1606's six-pack display is a ready- to-go,
point-of-sale display that holds six-packs of the traditional 20
pack of hemp smokables. SurgePays now has 1606's CBD Singlz brand
available via their retail portal.
With over 50 individual products, CBDW will continue to pursue
additional distribution partnerships and has several more deals in
the diligence phase of its pipeline.
Jeremy Gies, President of
SurgePays Fintech, said, "This distribution agreement allows
SurgePays to provide retail store owners with in-demand products at
good margins that drive revenue. We are currently staging the
onboarding pipeline of over 25,000 more convenience store locations
transacting on our network. One of our channel goals is to create a
distribution marketplace with quality products and quality partners
that increases revenue per store and 1606 Corp. provides just
that."
"With the growing demand for tobacco alternatives, this
distribution agreement comes at just the right time for the
company. We aim to add shareholder value through increased revenue
and with demand mounting for our products and products like ours,
this deal puts us in a great position to capture market share,"
stated Greg Lambrecht, CEO of 1606
Corp.
About SurgePays, Inc.
SurgePays, Inc. is a technology
and telecom company focused on the underbanked and underserved
communities. SurgePhone and Torch Wireless provide subsidized
mobile broadband to over 250,000 wireless subscribers nationwide.
SurgePays fintech platform empowers clerks at over 8,000
convenience stores to provide a suite of prepaid wireless and
financial products to underbanked customers. Please visit
SurgePays.com for more information.
About 1606 Corp;
In April
2021, 1606 Corp. was spun off from Singlepoint Inc. (OTCQB:
SING).1606 has been able to add a variety of CBD products under the
Brio Nutrition line, and smokable hemp brands Truz and CBD
Singlz to complement 1606 original Hemp cigarettes
(www.1606hemp.com). The company intends to acquire Companies in the
CBD, including brands, distribution, retail outlets, and
manufacturing. 1606 Corp. was awarded the ticker symbol CBDW in
mid-January 2022.
Industry Information;
Rates of cannabidiol (CBD) usage
in the United States are projected
to surge in 2023, according to industry With recent studies
suggesting as high as a 10% year-over-year (YoY) increase in usage,
Top CBD supplier predicts that 2023 will be a pivotal year for the
industry as the widespread adoption of CBD-infused products is set
to take place across the health and wellness, beauty, and food and
beverage industries. Data from 2022 provides insight into the
widespread nature of CBD-infused products. The Center for Advancing
Health (CFAH) reported that 26% of Americans used CBD in 2022, and
according to ClevelandClinic.org, https://my.clevelandclinic.org/.
It is also often marketed toward individuals struggling with
anxiety, depression, quitting smoking, fitness recovery, and
post-traumatic stress disorder (PTSD).
Forward-Looking Statements
This press release
contains statements that constitute forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These statements appear in a number of places in this
release and include all statements that are not statements of
historical fact regarding the intent, belief, or current
expectations of 1606 Corp (the "Company"), its directors, or its
officers with respect to, among other things: (i) financing plans;
(ii) trends affecting its financial condition or results of
operations; (iii) growth strategy and operating strategy. The words
"may," "would," "will," "expect," "estimate," "can," "believe,"
"potential" and similar expressions and variations thereof are
intended to identify forward-looking statements. Investors are
cautioned that any such forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties, many of which are beyond the Company's ability to
control, and actual results may differ materially from those
projected in the forward-looking statements as a result of various
factors. You should not place undue reliance on forward-looking
statements since they involve known and unknown risks,
uncertainties, and other factors, which are, in some cases, beyond
the Company's control and which could, and likely will materially
affect actual results, levels of activity, performance, or
achievements. The Company assumes no obligation to publicly update
or revise these forward-looking statements for any reason, or to
update the reasons actual results could differ materially from
those anticipated in these forward-looking statements, even if new
information becomes available in the future. Important factors that
could cause actual results to differ materially from the company's
expectations include but are not limited to, those factors that are
disclosed under the heading "Risk Factors" and elsewhere in
documents filed by the company from time to time with the United
States Securities and Exchange Commission and other regulatory
authorities.
Company Websites;
www.CBD.Inc
www.brionutrition.com
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SOURCE 1606 Corp