Sanwire (OTC: SNWR), a diversified company with a focus on technologies for the entertainment industry, together with its 100% wholly owned subsidiary, Intercept Music Inc., today provided a shareholder update. Per the update, Sanwire has reached an agreement with a major shareholder/company officer to retire 100 million common shares, effective immediately. The retirement of shares coupled with the cancellation of over $1,000,000 of debt, including the cancellation of over $400,000 of convertible notes and interest in 2020, has greatly improved Sanwire’s balance sheet and enhanced its ability to attract senior institutional investors. Among the highlights from fiscal 2020 at Intercept, the company reported consistent quarter-over-quarter sales growth, expansion of its product testing to over 300 artists and release of version 2.0 of its software platform, including social media marketing and online stores for high-caliber artists.
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About Sanwire Corp.
Sanwire, a diversified company with a focus on technologies for the entertainment industry, has been involved in aggregating technologies for a number of years. The company looks for opportunities in fragmented markets where technology can be applied to consolidate services into a single platform of delivery. Sanwire’s current focus is advanced entertainment technologies. For more information about the company, visit www.SanwireCorporation.com.
NOTE TO INVESTORS: The latest news and updates relating to SNWR are available in the company’s newsroom at https://ibn.fm/SNWR
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