Sanwire Corporation Receives First Settlement Offer to Cancel Over 1.3 Billion Common Shares along with associated Debts and Dismiss the Lawsuits
Rhea-AI Summary
Sanwire (OTC:SNWR) received a Settlement Offer to resolve lawsuits with Trillium Partners and Intercept Music entities. The proposal includes cancelling 1,361,566,319 common shares and 8,853,000 Series C preferred shares held by Intercept-related holders and relieving Sanwire of debts from the Intercept acquisition, including at least $135,513 owed to Trillium and approximately $1,000,000 of total debt.
The offer does not cover monetary compensation, expense reimbursement, or Trillium’s six debt conversions. Sanwire plans a counter-offer and highlights potential cancellation of close to 50% of its issued and outstanding common shares.
Positive
- Proposed cancellation of 1,361,566,319 common shares held by Intercept-related holders
- Proposed cancellation of 8,853,000 Series C preferred shares held by Intercept insiders
- Potential removal of approximately $1,000,000 of Intercept acquisition-related debt
- Relief from Trillium’s outstanding debt balance of at least $135,513, if finalized
- Potential cancellation of close to 50% of issued and outstanding common shares
Negative
- Settlement Offer currently excludes monetary compensation and expense reimbursement
- Trillium’s six debt conversions are not addressed in the proposed terms
- Lawsuits and related matters remain unresolved until a final agreement is reached
AI-generated analysis. How Rhea-AI works. Not financial advice.
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
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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