|Calgary, Canada, July 7, 2003, Chartwell Technology Inc. (TSX-VEN: CWH) a leading provider of gaming systems and entertainment content to the online gaming industry is pleased to announce the appointment of Mr. Don Gleason as Chief Financial Officer effective June 9, 2003. |
Mr. Gleason, a CGA, joins Chartwell with seventeen years experience in the information technology industry, focused on financial management and business operations within both large multinational and smaller technology companies. During the past nine years Mr. Gleason led EFA Software in the development and execution of the company’s financial plan where revenues grew from $2.6 million in 1996 to $40 million prior to Mr. Gleason successfully negotiating EFA’s buyout by Basis 100. In addition to delivering EFA’s financial roadmap, Mr. Gleason was instrumental in EFA’s major financings, acquisitions and dispositions.
“Our history of software research and development combined with our focused marketing plan has now brought Chartwell to the targeted profitability point”, stated Darold H. Parken, President and CEO of Chartwell. “The always dynamic and rapidly expanding gaming industry represents tremendous organic growth opportunities for Chartwell as well as significant diversification options through the development of new vertical markets. The addition of Don Gleason as CFO strengthens our overall management team and his particular expertise will be a valuable asset as Chartwell continues its growth with major business expansion plans, stronger revenues and profits.”
Mr. Gleason has been granted an option to purchase 100,000 common shares. In addition, Mr. Dave Acorn, Vice President, Software Development and Mr. Don Harold, Vice President, Operations, have been granted options to purchase 50,000 and 25,000 common shares respectively. All of the options were granted pursuant to the Company’s Stock Option Plan and have five year terms.
Chartwell Technology Inc. specializes in the development of leading edge gaming applications and entertainment content for the Internet and wireless platforms. 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