1606 Corp. Raises $20 Million in Equity Financing from GHS Investments for CBD Acquisitions 

1606 Corp. is a Phoenix-based hemp and CBD retail and distribution company that recently raised up to $20 million through an equity financing agreement with GHS Investments. According to a news release, the funds will be used for the company’s acquisition activities, which the CEO and Chair Greg Lambrecht hopes will make 1606 an attractive investment opportunity for investors worldwide. In a statement, he said that “this $20 million financing is going to allow us to buy profitable CBD companies.”

GHS Investments has agreed to buy equity in 1606 at 80% of the market price. However, the purchase price will increase to 90% of the market price, subject to a $2-per-share floor, after 1606 transitions from over-the-counter markets (where it trades as CBDW) to a larger exchange such as the Nasdaq. In the event that the market price falls below this level, the company will not deliver any put options.

The successful equity financing agreement between 1606 Corp. and GHS Investments provides the company with substantial capital to pursue its growth objectives. By acquiring profitable CBD companies, 1606 aims to enhance its market position and create value for investors worldwide. GHS Investments’ commitment to purchasing equity in 1606 at 80% of the market price demonstrates its confidence in the company’s potential. As 1606 continues to grow and expand, it remains committed to delivering high-quality products and services to its customers.