Sanwire Corporation Receives First Settlement Offer to Cancel Over 1.3 Billion Common Shares along with associated Debts and Dismiss the Lawsuits
POINT ROBERTS, Wash., May 26, 2026 (GLOBE NEWSWIRE) -- Sanwire Corporation ("Sanwire" or the "Company") (OTCID: SNWR), a diversified company with a focus on aggregating technologies within a number of industries, announces that it has received a settlement offer (“Settlement Offer”) to resolve and dismiss lawsuits between Sanwire and Trillium Partners, LP (“Trillium”), Delaware-based Intercept Music, Inc. (“Intercept Music”), and Nevada-based Intercept Music Group, Inc. (“Intercept Group”). The Settlement Offer stipulated:
- Intercept Music would return for cancellation 1,361,566,319 of Sanwire’s common stock issued and held by Intercept Music insiders, investors, service providers, consultants and partners; and
- Intercept Music would return for cancellation 8,853,000 of Sanwire’s Series C Preferred stock issued and held by Intercept Music insiders; and
- Sanwire would be relieved from all debts (convertible notes or otherwise) that was incurred from acquiring Intercept Music including Trillium’s outstanding debt balance of at least $135,513.
The Settlement Offer didn’t address monetary compensation, expenses reimbursement and Trillium’s six debt conversions.
“In the next few days, Sanwire will be submitting a counter-offer that addresses the items that were not included in the proposed Settlement Offer,” said Ron Hughes, President and CEO of Sanwire. “While we’re pleased to have an agreement on the return and cancellation of close to 50% of our issued and outstanding common shares and the removal of approximately $1,000,000 of debt from our balance sheet, we remain resolute to recover expenses that Sanwire incurred from day one of Intercept Music acquisition. We’re willing to wait it out until we get back what our shareholders rightfully deserve.”
About Sanwire Corporation
Sanwire Corporation is a diversified company with a focus on aggregating technologies within a number of industries. For more information, visit sanwirecorp.com.
For press and corporate inquiries, please contact:
Ronald E. Hughes
CEO, Sanwire Corporation
ron.hughes.management@gmail.com
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