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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.
