Chartwell Appoints New Board Member.Business Editors/High-Tech Writers CALGARY, Alberta--(BUSINESS WIRE)--March 25, 2004 Chartwell Technology Chartwell Technology is gaming software developer focused largely on the online bingo market. The company is based in Calgary, Vancouver, and is publicly traded on the Toronto Stock Exchange under the ticker symbol "CWH". Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:CWH CWH Coastal Western Hemlock (botany) CWH Cup With Handle (stock market watchlist) CWH Computer World Hosting CWH Complementary Walsh-Hadamard (coding scheme) ) a leading provider of gaming software systems and entertainment content to the online and mobile gaming industry is pleased to announce that it has appointed Mr. Peter H. Kinash as an independent member to the Company's Board of Directors. The Company also announces the resignation of Mr. Steven W. Latham who served on the Board since 1998. Mr. Kinash, a Chartered Accountant, joins the Board with more than fifteen years of financial and related experience in the technology sector. Since 2002, Mr. Kinash has been providing financial leadership and advice to emerging and established technology companies. Prior to this, Mr. Kinash was CFO See Chief Financial Officer. with Wi-LAN Inc. and Partner with KPMG KPMG Klynveld Peat Marwick Goerdeler (accounting firm) KPMG Kaiser Permanente Medical Group KPMG Keiner Prüft Mehr Genau (German) KPMG Kommen Prüfen Meckern Gehen LLP LLP - Lower Layer Protocol where he led their Calgary technology practice from 1990 to 1999. "Peter's extensive financial and technology background will be a tremendous addition to the Board of Chartwell and we are very excited to begin working with him," states Darold Parken, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Chartwell. "Peter's appointment, as an additional independent director, fulfills Chartwell's objective of establishing its' Board with a majority of independents. I would also like to thank Steve Latham for his long service to the Board, having stepped down to permit Peter's appointment. Steve will continue to be a valuable member of the Chartwell team." Kinash said, "I am very pleased to be joining the Chartwell team. The electronic entertainment space will continue to produce significant revenue potential for new products and delivery methods and lead technological change. Chartwell's position in this growing international market combines very nicely with my career history and I look forward to contributing to the development and growth of the company." Stock Options Mr. Kinash has been granted an option to purchase 50,000 common shares of Chartwell Technology. The options were granted for a five-year term pursuant to the Company's Stock Option Plan. About Chartwell Chartwell Technology Inc. specializes in the development of leading edge gaming applications and entertainment content for the Internet and wireless platforms and other remote access devices. Chartwell's Java and Flash based software products and games are designed for deployment in gaming, entertainment, advertising and promotional applications. Chartwell does not participate in the online gaming business of its clients. Chartwell's team of highly trained professionals is committed to delivering the highest quality software and maintaining its leading edge through continuous development and unparalleled customer support. Chartwell invites you to preview and play our games at: www.chartwelltechnology.com Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: The statements contained herein which are not historical fact are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays in testing and evaluation of products, regulation of the online gaming industry, and other risks detailed from time to time in Chartwell's filings with the Securities & Exchange Commission. We assume no responsibility for the accuracy and completeness of these statements and are under no duty to update any of the forward-looking statements contained herein to conform these statements to actual results. This is not an offer to sell or a solicitation of an offer to purchase any securities. The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. does not accept responsibility for the adequacy or accuracy of this release. |
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