Fireswirl Closes Private Placement Financing

VANCOUVER, Aug. 22, 2013 /CNW/ - Fireswirl Technologies Inc. (TSXV: FSW) (the "Company") is pleased to announce that it has closed a non-brokered private placement (the "Private Placement") for 4,500,000 common shares (each, a "Share") at a price of $0.13 per Share for gross proceeds of $585,000.  All Shares issued with respect to the Private Placement are subject to a hold period that expires four months and a day from the closing date in accordance with the rules and policies of the TSX Venture Exchange and applicable Canadian securities laws and such other further restrictions as may apply under foreign securities laws.

The Company intends to use the net proceeds of the Private Placement for working capital and operating expenses.

The Private Placement is subject to TSX Venture Exchange final acceptance.

About Fireswirl

Fireswirl Technologies Inc. (TSXV: 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 solutions requiring multiple payment interfaces, multicurrency and multi-language capabilities. Our solutions 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 may contain certain forward-looking statements that reflect the current views and/or expectations of the Company with respect to its business and future events.  In particular, this news release contains forward-looking statements relating to the use of the net proceeds of the Private Placement. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, without limitation, statements regarding the outlook for future operations, the evaluation of market conditions, and the ability to raise financing.  Investors are cautioned that any such forward-looking statements are not guarantees and may involve risks and uncertainties, and that actual results may differ from those in the forward-looking statements as a result of various factors such as general economic and business conditions, including changes in economic conditions and misjudgments in the course of preparing forward-looking statements.  These risks, as well as others, could cause actual results and events to vary significantly. The Company does not undertake any obligation to release publicly any revision for updating any voluntary forward-looking statements.

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

SOURCE: Fireswirl Technologies Inc.

Further information can be found on the company at www.fireswirl.com or contact:

Fireswirl Technologies Inc.

Ji Yoon
Interim CFO
Telephone: [phone] Ext. 214
Fax: [phone]
Email: [email protected]
Website: www.fireswirl.com