Vancouver - Fireswirl Technologies Inc. (TSXV: FSW.H) (the 'Company') announces that it has settled $203,354 of debt with creditors by issuing 1,506,328 common shares of the Company at a deemed price of $0.135 per share.

The shares issued in connection with the debt settlement are subject to a four-month hold period expiring on September 29, 2020.

In connection with the debt settlement, the Company issued common shares to persons that are directors of the Company. The Company has determined that exemptions from the various requirements of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ('MI 61-101') are available for the issuance of the common shares to these related parties. The Company is relying on the exemptions from the formal valuation and minority approval requirements contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, on the basis that the fair market value of the transaction does not exceed 25 per cent of the Company's market capitalization.

Contact:

Tel: 604 218-4766

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