Following a major announcement with regards to its subsidiary unit Intercept Music yesterday, Sanwire Corporation (OTCMKTS:SNWR) saw its stock make a big move and end the day with gains of as much as 40%.
Sanwire Corporation’s Wholly Owned Subsidiary and Start-up Music Tech Innovator, Intercept Music, Goes Global
It was announced yesterday that Intercept Music was going to expand at a worldwide level and that brought considerable attention to the stock of the parent company. It was announced that in the month of October this year Intercept Music started its global distribution initiative. In order to accomplish that, the company hired a number of bilingual partners and then integrated the label suite markup language into Portuguese and Spanish.
The announcement with regards to the global ambitions was made by Intercept Music during the course of the Latin Billboard Awards event that was held in Miami last week. Tod Turner, who is the President of the company, spoke about the considerable scope of this expansion as well.
He noted that the partnerships that have been struck up by Intercept Music is going to position the company in taking advantage of the considerable growth that is taking place in the Latin American market. It remains to be seen if the Sanwire stock can manage to maintain its momentum today.
Key Quote
The announcement was made during Intercept’s showcase at the Latin Billboard Awards in Miami last week. “With the partnerships we have in place throughout Latin America, we are well positioned to take advantage of the exceptional growth happening in the Latin markets,” said Intercept Music president, Tod Turner. “We are going to be able to help thousands of talented Latin artists amplify their music careers.”
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