Los Angeles, CA, February 4, 2020 – Sanwire Corporation (“Sanwire” or the “Company”) (OTC PINK: SNWR), a diversified company with a focus on the entertainment industry, is pleased to announce the execution of a definitive letter of intent to acquire Intercept Music, Inc (“Intercept”). Sanwire representatives said they expect to complete the transaction in the next 30 days.
Intercept (www.interceptmusic.com) is an online platform that allows any of the 10+ million independent musicians to upload their music, and distribute and collect royalties from over 100 retailers (Spotify, iTunes, Pandora, Amazon, Google) in 165 countries. The software automatically promotes the artists’ entire business, including their music, merchandise and performances in social media, playlists and even online radio. Artists can also track sales, monitor their marketing success, get state of the art analytics, and advice from experts.
Sanwire believes that Intercept is a perfect fit for Sanwire and a great foundation to begin the execution of its 2020 business plan. The independent artist market is primed for massive growth and consolidation. Intercept is well-positioned for large scale organic growth as well as a platform for multiple industry related acquisitions to make it a “one-stop-shop for independent musicians.
As at close of business day Friday 1/31/20, Sanwire’s total outstanding common shares are 221,053,147; total restricted common shares are 179,761,665; and total unrestricted common shares are 41,291,482.
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