Fireswirl Technologies Inc.
TSX VENTURE : FSW

Fireswirl Technologies Inc.

October 29, 2009 12:08 ET

Fireswirl Provides Business Update in Connection With Recent Acquisition

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 29, 2009) - Fireswirl Technologies Inc. (TSX VENTURE:FSW) -

Tony Lau, Chairman and CEO of Fireswirl Technologies Inc ("Fireswirl" or the "Company"), wishes to provide shareholders with a business update in connection with the Company's recent acquisition:

On October 1, 2009, the Company acquired controlling interest of Beijing Xingchang Xinda Technology Development Co., Ltd. ("XCXD"). Through the acquisition, Fireswirl became a leading online retailer of mobile handsets in China. The company is currently:

  • the sole operator of the official Motorola Online Store "Motostore" in China (www.motostore.com.cn);
  • the sole operator of the official Dopod Online Store in China (shop.dopod.com).

The four international brands are among the top six mobile handset brands in China in terms of online awareness, according to Baidu Data Research Centre. Baidu is the most popular online search engine in China.

As the sole operator of the official online store for these international brands in China, Fireswirl provides authentic mobile handsets with full factory warranty to customers in over 1,800 Chinese cities. The company also provides both online payment and cash-on-delivery payment solutions to its customers to satisfy the diverse needs of the Chinese market.

About Fireswirl Technologies Inc.

Fireswirl Technologies Inc. (TSX VENTURE:FSW) is focused on creating transactional revenue by engineering electronic and mobile commerce solutions for content providers. The Company's technology has broad applications for those requiring multiple payment interfaces, multi-currency and multi-language capabilities. It can be adapted to any industry seeking high volume or micro-payment solutions involving a wide base of users through internet or wireless applications.

This news release contains certain forward-looking statements that reflect the current views and/or expectations of Fireswirl Technologies Inc. with respect to its performance, business and future events. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, those relating to changes in the market, potential downturns in economic conditions, foreign exchange fluctuations, general demand, competition and our ability to implement our business plans and strategies in a timely manner or at all. These risks, as well as others, could cause actual results and events to vary significantly. Fireswirl Technologies Inc. does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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