Fireswirl Technologies Inc.
TSX VENTURE : FSW

Fireswirl Technologies Inc.

December 13, 2006 10:11 ET

Fireswirl Technologies Announces Vend of Subsidiary

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 13, 2006) - Fireswirl Technologies Inc. (TSX VENTURE:FSW)("Fireswirl") announces that its wholly-owned subsidiary, Fireswirl Systems Inc. (FSI), has divested its shares of Swirl Marketing Ltd. (SML), the sublicensor of the Fireswirl Poker Suite to AsiaPac Technologies Management Inc. for nominal consideration.

Pursuant to the terms of the licence agreement between SML and FSI, SML will continue to make payments to FSI in the form of monthly license fees and will be invoiced separately for any technical support services and other special projects and services as and when such services are rendered.

"This transaction is in line with the recent refocus of our target markets and product offerings," said Dale Peterson, Fireswirl's CEO. "Fireswirl's technology appeals to content providers with a wide base of users requiring mobile or internet commerce solutions and we are looking to diversify beyond gaming."

About Fireswirl Technologies Inc.

Fireswirl Technologies Inc. (TSX VENTURE:FSW) engineers 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.

Forward Looking Statement

This news release contains certain forward-looking statements that reflect the current views and/or expectations of Fireswirl 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 risks associated with foreign countries, changes in laws and regulations, proprietary protection, dependence on online gaming market growth, foreign exchange fluctuations, regulatory requirements and dependence on the internet and system infrastructure. These risks, as well as others, could cause actual results and events to vary significantly. Fireswirl 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.

Contact Information

  • Fireswirl Technologies Inc. (Head Office)
    Dale Peterson
    CEO
    (604) 696-2069
    (604) 677-6613 (FAX)
    or
    Fireswirl Technologies Inc.
    Keir Reynolds
    Investor Relations
    (604) 684-4743 ext. 231 or Toll Free: 1-866-684-4743