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

Core Viewpoint - Sanwire Corporation has filed a complaint against Intercept Music and Trillium Partners LP seeking the return and cancellation of over 2 billion common shares, along with court-approved monetary compensation due to alleged breaches of an acquisition agreement and improper financial transactions [1][3][4]. Summary of Events - Sanwire entered into an acquisition agreement with Intercept Music on March 5, 2020, purchasing its assets through the issuance of common and preferred stock [4]. - Intercept Music raised approximately $2.5 million by selling Sanwire's common stock and issuing convertible notes between December 2020 and March 2023, with Sanwire not receiving any proceeds from these funds [4]. - A $115,000 Convertible Promissory Note was negotiated between Intercept Music and Trillium, with funds wired directly to Intercept Music's account, again without Sanwire receiving any proceeds [4]. - Trillium converted $122,230.41 of the note into 642,147,984 common shares of Sanwire, significantly impacting the company's share price and increasing the total issued shares to 2,901,074,406 [4]. Relief Sought - The complaint requests the return and cancellation of 2,003,714,303 common shares to improve Sanwire's capital structure and attract future investments [6]. - Specific demands include the return of 1,361,566,319 common shares and 8,853,000 Series C Preferred shares, along with a payment of $250,000 for fees related to the acquisition transaction [8]. - Sanwire seeks reimbursement for the converted amount of the Trillium Note, all incurred expenses, and the assumption of all convertible and promissory notes for which it remains the obligor [8].