Sanwire Corporation to Create Preferred Stock to Minimize Dilution to Shareholders
LONDON, June 29, 2020 /PRNewswire/ -- Sanwire Corporation, ("Sanwire" or "the Company") (OTC: SNWR), a diversified company with a focus on technologies for the entertainment industry, announced today that it will be filing certificates of designation for its Series A, B, and C preferred stock with Nevada Secretary of State.
Intercept Music, Inc. ("Intercept"), wholly owned subsidiary of Sanwire, has progressed rapidly from development stage to product commercialization to revenue generation in a short timeframe. Intercept is embarking on a rapid growth plan that includes revenue expansion from existing markets, accelerated customer acquisition, new industry partnerships, and penetration of new markets.
To support Intercept's business plan execution, Sanwire is working on a multi-dimensional plan that includes acquisitions, attracting sophisticated investors and enhancing Sanwire's current balance sheet while minimizing shareholder dilution. Sanwire believes preferred stock would be the ideal instrument to utilize.
Mr. Christopher Whitcomb, Sanwire's CEO commented: "Our paramount goal is to maintain a balanced approach between future investments and shareholder value while minimizing shareholder dilution. The effective utilization of preferred stock ensures our company can grow with the least amount of shareholder dilution."
About Intercept Music, Inc.
Intercept Music, Inc. is an entertainment technology company dedicated to helping independent artists effectively distribute, market, and monetize their music. Sold through a Software as a Service (Saas) model, Intercept's online platform delivers an unsurpassed combination of mareting, promotion, and distribution to hundreds of stores worldwide and every major streaming service, including Apple Music, Google Music, Pandora and Spotify. Intercept's options include full-service, concierge-style support and even one-on-one coaching from award-winning music industry professionals. Intercept focuses exclusively on the independent music market, which is estimated at 12 million artists, and is the fastest-growing sector of the music industry. For more information, visit interceptmusic.com.
About Sanwire Corporation
Sanwire Corporation (OTC: SNWR ), a diversified company with a focus on technologies for the entertainment industry, has been involved in aggregating technologies for a number of years. We look for opportunities in fragmented markets, where technology can be applied to consolidate services into a single platform of delivery. Our current focus is advanced entertainment technologies. For more information, visit sanwirecorporation.com.
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SOURCE Sanwire Corporation