On September 28, 2026, 1606 Corp. and Sim Agro Inc. mutually terminated their Agreement and Plan of Stock Exchange dated May 2, 2026, abandoning the proposed acquisition of a 51% stake in Sim Agro. The transaction was never consummated; no shares were issued, no consideration was paid, and no termination fees were incurred. The parties rescinded pre-closing documents, including a $422,322 promissory note (Debt Note), rendering them void ab initio. Sim Agro remains solely responsible for ENMAS EPC Power Projects Limited indebtedness and related liabilities, agreeing to indemnify 1606 against such claims. This filing discloses the collapse of a strategic merger deal in the energy infrastructure sector.
