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Sanwire Files Complaint Against Intercept Music and Trillium Partners LP Seeking Return and Cancellation of Over 2,000,000,000 Sanwire’s Common Shares Plus Court-Approved Monetary Compensation
Sanwire Files Complaint Against Intercept Music and Trillium Partners LP Seeking Return and Cancellation of Over 2,000,000,000 Sanwire’s Common Shares Plus Court-Approved Monetary Compensation.
About this update from Sanwire Corp.
[{"type":"text","content":"\r\n\r\n \r\n \r\n Sanwire Files Complaint Against Intercept Music and Trillium Partners LP Seeking Return and Cancellation of Over 2,000,000,000 Sanwire’s Common Shares Plus Court-Approved Monetary Compensation\r\n \r\n \r\n\r\n\r\nSanwire Files Complaint Against Intercept Music and Trillium Partners LP Seeking Return and Cancellation of Over 2,000,000,000 Sanwire’s Common Shares Plus Court-Approved Monetary Compensation\r\n\r\n\r\n\r\n\r\n\r\nPOINT ROBERTS, Wash., July 15, 2025 (GLOBE NEWSWIRE) -- Sanwire Corporation (\"Sanwire\" or the \"Company\") (OTC: SNWR), a diversified company with a focus on aggregating technologies within a number of industries, is pleased to announce that as a follow-up to its press release dated May 21, 2025, Sanwire has filed a complaint in Clark County, Nevada District Court (Case No. A-25-923008-C) (the “Complaint”) against Delaware-based Intercept Music, Inc. (“Intercept Music”), Nevada-based Intercept Music Group, Inc. (“Intercept Group”), and Delaware- based Trillium Partners, LP (“Trillium”). The court filing date was July 11, 2025. Summary of historical events and the Complaint alleges the following: \r\n Sanwire and Intercept Music were parties to an acquisition agreement (“Acquisition Agreement”), dated March 5, 2020, wherein Sanwire purchased the assets of Intercept Music. The purchase price was the issuance of Sanwire’s common stock and Series C Preferred Stock to Intercept Music stakeholders.\r\n Between December 2020 and March 2023, Intercept Music raised approximately $2,500,000 by selling Sanwire’s common stock and issuance of convertible notes (“Funds Raised”). Proceeds from Funds Raised were directly wired/deposited to Intercept Music’s bank account. Sanwire never received any of the proceeds from those Funds Raised, but remains the named obligor on all convertible notes and issuance of Sanwire’s common stock.\r\n On October 7, 2021 Intercept Music and Trillium negotiated and finalized a $115,000 Convertible Promissory Note and an accompanying warrant for 23 million shares of Sanwire common stock (“Trillium Note”). Sanwire’s prior Board of Directors contemporaneously approved the Trillium Note transaction and instructed its transfer agen...