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Sanwire Corp signs definitive agreement to sell two subsidiaries to Seven Arts Entertainment


Tuesday, 22 Jul 2014 04:09pm EDT 

Sanwire Corp and Seven Arts Entertainment Inc:Says execution of a definitive stock purchase agreement under which Seven Arts will acquire Sanwire's two subsidiaries, Oklahoma-based Aeronetworks LLC and Nevada-based iPTerra Technologies Inc.Seven Arts has acquired all the capital stock of iPTerra and all the membership interests in Aeronetworks from Sanwire in return for Seven Arts' Series D Preferred Stock converting into about 40 pct of Seven Arts' common stock and assumption of about $2,905,000 in convertible notes.Aero and iPTerra will operate as wholly owned subsidiaries of Seven Arts. 

Company Quote

3.0E-4
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26 Nov 2014