Material Agreement (Form 8-K)

Item 1.01 Entry into a Material Definitive Agreement

On March 12, 2026, 1606 Corp., a Nevada corporation (the "Company"), entered into a Purchase and Sale Agreement (the "Agreement") with Jefferson Enterprise Energy, LLC, a Texas limited liability company ("Seller"), pursuant to which the Company agreed to purchase certain real property located in Angelina County, Texas, including land, improvements, equipment, permits, warranties and related documents (collectively, the "Property").

The total purchase price for the Property is $11,168,864, consisting of (i) $7,000,000 in cash payable at closing and (ii) the Company's assumption of a mechanic's and materialman's lien recorded as Instrument No. 2025-00458298 in the Official Public Records of Angelina County, Texas (the "Sim Agro Lien"). The Company has agreed to indemnify, defend, and hold Seller harmless from and against any and all losses, costs, damages, claims, demands, actions, and liabilities arising from or relating to the Sim Agro Lien, which obligation shall survive the closing.

Concurrently with execution of the Agreement, the Company deposited $250,000 as earnest money (the "Earnest Money") with the title company. The Earnest Money is immediately nonrefundable to the Company except if Seller fails to perform its obligations expressly required to be completed at closing. If the closing occurs, the Earnest Money will be credited to the purchase price at closing.

The closing is scheduled to occur on April 15, 2026, subject to customary closing conditions. The Company is purchasing the Property on an "AS-IS, WHERE-IS" basis with all faults, and the AS-IS nature of the sale is reflected in the purchase price as a material term of the transaction.