1606 Corp. Signs LOI to Acquire Nutraceutical Business
Ryan Allway
March 9th, 2023
News, Top Story
Fresh off its acquisition of Brio Nutrition earlier this week, 1606 Corp. (OTC: CBDW) signed a letter of intent to acquire 51% of Sanctum Herbal on Wednesday. The $7.2 million potential acquisition would provide investors with a unique nutraceutical product supporting the immune system and lung function.
In this article, we’ll examine Sanctum Health’s flagship product and how it fits within 1606 Corp.’s long-term goals.
Science-backed Nutraceuticals
Sanctum Herbal is the sole authorized distributor of Remedium Therapeutics’ CoroQuil-Zn outside of India.
1606 Corp. aims to leverage its $20 million line of credit to roll up CBD brands. While Sanctum Health isn’t explicitly a CBD business, the potential acquisition still provides exposure to consumer wellness products. And moreover, combining nutraceuticals with CBD has become an essential strategy to differentiate brands in the space.
In addition to the product synergies, the potential acquisition could add a significant source of near-term revenue with $7 million in inventory. These revenues could expedite the company’s uplisting to a national exchange. And ultimately, any uplisting could help increase liquidity for existing shareholders and open the door to broader investment.
“This is a great deal for us and for the shareholders,” said Greg Lambrecht, CEO of CBDW. “We’re going to own 51% of Sanctum allowing us to add revenue which gets us another step closer to fulfilling the listing requirements of a national exchange. We will receive a significant amount of inventory allowing us to go to market quickly and we have access to world-class scientists who can help us develop future products.”
Looking Ahead
1606 Corp. (OTC: CBDW) continues to execute on its plans to roll up CBD and related consumer wellness companies and, ultimately, uplist on a national exchange. With the potential acquisition of Sanctum Health, the company could quickly generate revenue by selling through $7 million in inventory and unlock shareholder value.
For more information, visit the company’s website or complete the form below to keep up-to-date.
Disclaimer
This communication contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice. Read our full disclosure at: https://cfnmedia.com/legal-disclaimer/.
1606 Corp. is a client of CFN Enterprises Inc. 1606 Corp. agreed to pay CFN Enterprises Inc. $30,000 beginning on February 15, 2023, for a three-month investor awareness campaign.
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.
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