VANCOUVER, BRITISH COLUMBIA-- Fireswirl Technologies Inc. (TSX VENTURE:FSW) is pleased to announce that through its wholly owned subsidiary, Fireswirl Asia Limited ("Fireswirl"), the company has signed an agreement with Urumqi General System Computer Limited ("WestSMS") to jointly develop and market a Texas Hold'em Poker game service network in China.
Through a nationwide permit issued by the Department of Information Industries of China and authorized by China Mobile Communications Corp., the largest mobile service provider in the world in terms of subscriber base, WestSMS is the first licensed telecommunication service provider to obtain a nationwide Value-Added Business Dial-in Number in the Xinjiang Province, China. A Value-Added Business Dial-in Number enables a business to charge users for a product or service through their mobile phone service provider. WestSMS is currently providing value-added services such as downloadable ring-tones and games to over four million mobile phone users.
Fireswirl and WestSMS have agreed to jointly develop and market an online "play for free" membership service featuring Texas Hold'em poker games and tournaments in the Xinjiang Province with the goal of expanding them throughout China. Participants will pay a monthly membership fee and compete for a variety of prizes and incentives. The joint venture will derive revenue from memberships and advertising.
Fireswirl's feature-rich game technologies and networking solutions will provide the backbone for the new online membership game service network. WestSMS, an established presence in the Chinese telecommunications market, will provide audience access to the network and bring micro-payment capabilities to the Fireswirl-WestSMS joint venture through its relationship with the China Mobile Communications Corp.
"This joint venture agreement represents the first of many steps involved in moving Fireswirl toward fulfillment of our corporate vision to enter into emerging mobile commerce in Asia," said Dale Peterson, Fireswirl's Chief Executive Officer. "We look forward to exploring the broad applications of our technologies with an established government-licensed partner in China."
Xiao Jian Lin, Chief Executive Officer of WestSMS, commented, "Fireswirl's premium technologies will provide us with distinct advantages in building up our membership base in the Chinese market."
About Fireswirl Technologies Inc.
Fireswirl Technologies Inc. (TSX VENTURE:FSW) is in the business of software development, systems integration and licensing. The company's technology includes multiple payment interfaces, multi-currency and multi-language capabilities for applications within electronic and mobile commerce. The software has broad appeal across any industry seeking high volume or micro-payment solutions involving a wide base of users.
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.
Fireswirl Technologies Inc.
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Fireswirl Technologies Inc.
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