|Chartwell Technology Inc. TSX-VEN: CWH|
Calgary, Canada, March 25, 2004, Chartwell Technology Inc. (TSX-VEN: CWH) 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 with Wi-LAN Inc. and Partner with KPMG LLP 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 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.'
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.
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
For further information, please contact:
Chartwell Technology Inc.
Darold H Parken, President
David Bajwa, Investor Relations
(877) 261-6619 or (403) 261-6619
(877) 669-4180 or (604) 669-4180
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Safe Harbor Statement under the Private Securities Litigation Reform Act 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.