VANCOUVER, BRITISH COLUMBIA — (Marketwire) — 10/11/11 — Fireswirl Technologies Inc. (TSX VENTURE: FSW) (“the Company”) is pleased to announce that its subsidiary, Beijing Xingchang Xinda Technology Development Co., Ltd. (“XCXD”), has successfully signed an e-commerce collaboration agreement with Sino Light Enterprise (Shenzhen) Limited (“SLE”), an associate company of Sandmartin International Holdings Limited (SEHK: 482). SLE has engaged XCXD to set up, operate and maintain their official and flagship online stores, namely “XiYangYang Official Online Store” and “XiYangYang Taobao Flagship Store”, respectively, to sell apparels with “Pleasant Goat and Big Big Wolf” branding for a term of two years. XCXD is one of China-s leading e-commerce platform providers.
SLE has entered into a license agreement with an affiliate of Disney Enterprises, Inc., which in turn is the master licensee of “Pleasant Goat and Big Big Wolf”, to manufacture and distribute, through the establishment of retail stores for children-s wear for infant and children (from new-born to 14 years old) under the brand of “Pleasant Goat and Big Big Wolf” (the “Products”) for three years with an option to renew for another three years in Mainland China. SLE is principally engaged in the design, manufacture, and/or sourcing, marketing and sales of the Products and the operation of a distribution and retail network for the sales of Products in the People-s Republic of China. SLE plans to open over 1,100 retail outlets nationwide in the next three years and the first “Pleasant Goat and Big Big Wolf” retail store was opened on October 1, 2011.
“Pleasant Goat and Big Big Wolf”, also known as “XiYangYang”, is the No.1 cartoon series in China. In 2010, an animated movie derived from the series broke the domestic box office record for a Chinese produced animated movie.
About Fireswirl
Fireswirl Technologies Inc. (TSX VENTURE: 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, multi-currency 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.
Further information can be found on the Company at:
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 obligation 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.
Contacts:
Fireswirl Technologies Inc.
Ji Yoon
Interim CFO
604-540-8805 Ext. 214
604-677-6613 (FAX)
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