Fireswirl Technologies Inc.

Fireswirl Technologies Inc.

December 15, 2008 19:59 ET

Fireswirl Announces Management Resignation and Appointment and Grant of Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 15, 2008) - Fireswirl Technologies Inc. (the "Company") (TSX VENTURE:FSW) -

The Company today announced that Dale Peterson, CEO and President of the Company, has resigned with immediate effect. He has also resigned from the board of directors. The Company appreciates Mr. Peterson's previous contribution.

The Company also announced that Tony Lau (an existing officer and director of the Company) is appointed as Chief Executive Officer and Ji Yoon (an existing director) is appointed as Interim Chief Financial Officer.

Tony Lau is a co-founder of the Company. Mr. Lau has extensive experience in the technology industry and has been involved in business development of the Company since its inception. Mr. Lau previously served as the CTO of TradeUnit Limited, a Pan-Asia business-to-business company specializing in electronic components and the CTO of Paystone Technologies, a leading Canadian payment solutions provider.

Ji Yoon has 14 years of finance, accounting and public markets experience, having worked in the high technology, engineering, and distribution industries. Mr. Yoon is presently Chief Financial Officer and Corporate Secretary of JER Envirotech International Corp. (TSX Venture - JER; Frankfurt Stock Exchange - KFTB) and previously Acting Chief Financial Officer and Controller for Taiga Building Products Ltd. (TSX - TBL). Mr. Yoon is a Certified Management Accountant and an MBA from Queen's University, Ontario.

The Company also announced that it is granting, in aggregate, 100,000 new options exercisable on or before December 15, 2013 with an exercise price of $0.12 per common share to an officer of the Company pursuant to the Company's stock option plan increasing its outstanding options to 1,350,000 (5.34% of the Company's issued shares). The option grant is subject to regulatory approvals.

About Fireswirl

Fireswirl Technologies Inc. (TSX VENTURE:FSW) has been a developer of gaming and entertainment software since 1999. The Company's technology has broad applications for solutions requiring multiple payment interfaces, multi-currency and multi-language capabilities for either internet or wireless applications. With offices in Canada and China, the Company is active in sales of mobile handsets and providing value added services for the telecommunications industry.

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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.

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