Fireswirl Announces Appointment of New Interim Chief Executive Officer


June 16, 2017 - Vancouver, British Columbia - Fireswirl Technologies Inc. (TSXV:FSW)

("Fireswirl" or "the Company") announced today that, effective June 16, 2017, Lawrence Ng has resigned as the Interim Chief Executive Officer of the Company. Henry Au has been appointed to replace Mr. Ng as the Company's Interim Chief Executive Officer, effective June 16, 2017. Mr. Ng will remain a member of the Company's board of directors (the "Board").

Ji Yoon, the Chairman of the Board commented: "On behalf of the Board, I wish to thank Lawrence for his contributions to Fireswirl. We have appointed an experienced executive who can continue to drive our business forward and maximize long-term shareholder value. The Board has complete confidence that Henry is highly qualified to be our next CEO as we execute on our new corporate direction to provide innovative virtual reality solutions to successful organizations and expand our footprint into new markets."

Henry Au has over 25 years' of experience in the high technology, banking and venture capital industries with numerous multi-national corporations. Mr. Au began his career at Cathay Pacific Airways Ltd., before being appointed Vice President of CitiBank and ABN AMRO Bank. Mr. Au has also been Regional Operations Director at Microsoft Corporation and Chief Investment Officer at the Carlyle Group. Mr. Au was first appointed as a member of the Board on December 30, 2015.

Mr. Au earned a Bachelor of Arts and Bachelor of Engineering degree from Trinity College, University of Dublin, a Master of Science in Computer Engineering degree from University of Hong Kong and an MBA from Hong Kong Polytechnic University.

About Fireswirl Technologies Inc.

Fireswirl Technologies Inc. (TSXV: FSW) is in the business of providing multimedia and interactive marketing solutions, specializing in 3D visualizations, computer graphics and digital design. It has also developed and deployed augmented reality ("AR") and virtual reality ("VR") applications for customers in the property and sports segments. In the property segment, VR and AR applications are mainly deployed for sales and promotional use. In the sports segment, Fireswirl has developed its owned branded VX System, which integrates seamlessly with its VR technology and indoor cycling applications.

For further information, please contact:

Ji Yoon, Interim Chief Financial Officer and Chairman
Telephone: 604.540.8805
Fax: 604.677.6613
Email: jyoon@fireswirl.com
Website: www.fireswirl.com

This news release contains certain forward-looking statements that reflect the current views, beliefs, assumptions and expectations of Fireswirl with respect to its performance, business and future events. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements. In particular, factors that could cause actual results to differ materially from those in forward-looking statements include: Fireswirl's expectations regarding its ability to complete, and the anticipated results of, the transaction with XCXD and the funds that will be available to it upon completion of the transaction with XCXD. Although the Company considers these beliefs and assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. Although Fireswirl has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Fireswirl does not undertake any obligations to update any forward-looking statements, except in accordance with applicable securities laws.

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.