Fireswirl Announces Appointment of New Interim Chief Executive Officer

VANCOUVER, June 16, 2017 /CNW/ - 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

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.

This press release contains certain forward-looking statements that reflect the current views and/or expectations of Fireswirl with respect to the Company's business and future events. The reader is cautioned that forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other factors which are difficult to predict and may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the Company's business and the industry and markets in which the Company operates. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Investors are cautioned that all forward-looking statements involve risks and uncertainties. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking statements, which are qualified in their entirety by this cautionary statement. Fireswirl does not undertake any obligation to release publicly any revisions for updating any voluntary forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

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.

please contact: Ji Yoon, Interim Chief Financial Officer and Chairman, Telephone: [phone], Fax: [phone], Email: [email protected]; Website: www.fireswirl.com