FIRESWIRL TECHNOLOGIES INC ("FSW")
BULLETIN TYPE: Property-Asset or Share Disposition Agreement - Correction
BULLETIN DATE: June 2, 2017
TSX Venture Tier 2 Company
Further to the TSXV Bulletin dated June 1, 2017, the following details are corrected:
TSX Venture Exchange has accepted for filing a Purchase and Sale Agreement (the "Agreement") dated 29 February, 2016 as amended between Fireswirl Technologies Inc ("Fireswirl Technologies") and Fireswirl Technologies (Shenzhen) Co. Ltd ("Fireswirl Shenzen" and collectively with Fireswirl Technologies, the "Company"), Beijing Xingchang Xinda Technology Development Co. Ltd ("XCXD"), Wei Zhang ("Zhang") and Lei Liu ("Liu" and together with Zhang, the "Purchasers") to which the Company will sell, assign and transfer all of its controlling interest in XCXD to the Purchasers.
In order for the Purchasers to acquire a controlling interest in XCXD, XCXD must pay the Company RMB 3,500,000 to satisfy certain outstanding indebedtness of XCXD owing to the Company and certain of its subsidiaries, and return an aggregate of 6,058,673 common shares of the Company to the Company. These shares will be cancelled and returned to treasury.
All other details in the bulletin remain unchanged.
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