FORM 6-K
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Securities and Exchange Commission
washington, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 under
the Securities Exchange Act of 1934
For the month of March 2003
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CryptoLogic Inc.
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(Translation of registrant's name into English)
1867 Yonge Street, 7th Floor
Toronto, Ontario, Canada
M4S 1Y5
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(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file
annual reports under cover Form 20-F or Form 40F.
Form 20-F Form 40-F X
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Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the information
to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act
of 1934.
Yes No X
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DOCUMENT INDEX
Document Page No.
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1. Press Release dated March 17, 2003 "CryptoLogic Appoints 4
Michael Starzynski As CTO"
Document 1
CRYPTOLOGIC
[graphic omitted]
FOR IMMEDIATE RELEASE
ALL DOLLAR AMOUNTS IN US$
Symbol: NASDAQ: CRYP; TSX: CRY
CRYPTOLOGIC APPOINTS MICHAEL STARZYNSKI AS CTO
Senior technology executive expands leadership team,
focused on innovation and customer success
March 17, 2003 (Toronto, ON) - CryptoLogic Inc., a leading software developer
to the Internet gaming and e-commerce industries, announced today the
appointment of Michael Starzynski as Chief Technology Officer. Starzynski has
more than 20 years of global information technology experience in both the
telecommunication and financial services sectors at some of North America's
largest companies as well as leading entrepreneurial organizations.
"Michael Starzynski is an impressive professional and an excellent addition to
CryptoLogic's executive team," said Lewis Rose, CryptoLogic's President and
CEO. "A proven technology expert, Michael brings to CryptoLogic a wealth of
experience in product strategies and international client management.
Michael's customer focus will be valuable in aligning innovation with customer
success as CryptoLogic leverages its blue chip, global client base to
capitalize on the potential of online gaming worldwide."
Starzynski complements the technical leadership of Serge Bourenkov, Vice
President of Research and System Architecture, who has been instrumental in
developing the pioneering spirit at CryptoLogic almost since inception.
Starzynski has served in senior technology roles with market-leading
organizations including Financial Models Company, CGI Canada and a 13-year
career at Bell Canada, Canada's leading telecommunication service provider.
Most recently as Chief Technology Officer at Financial Models Company,
Starzynski managed a multi-million-dollar product development strategy and was
instrumental in delivering a new integrated product line designed to optimize
the way global investment management firms manage their customers. During his
tenure at Bell Canada, he spearheaded several technological modernization
programs, which enabled Bell Canada to compete head-on in a rapidly changing
business environment.
"CryptoLogic offers an exciting opportunity to work with the global leader in
online gaming software," said Starzynski. "I was attracted to CryptoLogic's
exceptional reputation for trusted, innovative technologies, the caliber of
the company's development team, and the commitment to a customer-focused
growth strategy. That's the reputation we will build on as we expand the
company and seize new product opportunities that create value for CryptoLogic,
its shareholders, and its customers."
About CryptoLogic (www.cryptologic.com)
Focused on integrity and innovation, CryptoLogic Inc. is the leading software
development company serving the Internet gaming market. The company's
proprietary technologies enable secure, high-speed financial transactions over
the Internet. CryptoLogic-developed software has processed more than US$11
billion in online transactions since inception in 1996 for some of the
best-known, international blue chip customers in interactive gaming.
CryptoLogic, ranked #1 in the Profit 100 listing of Canada's fastest growing
companies, continues to develop state-of-the-art Internet software
applications for both the electronic commerce and Internet gaming industries.
WagerLogic Ltd., a wholly-owned subsidiary of CryptoLogic, is responsible for
the licensing of its gaming software and services to customers around the
world.
CryptoLogic's common shares trade on the Toronto Stock Exchange under the
symbol CRY and on the Nasdaq National Market under the symbol CRYP. There are
currently 12.2 million common shares outstanding (12.8 million shares fully
diluted, based on the treasury method).
For more information, please contact:
At CryptoLogic, (416) 545-1455 At Argyle Rowland, (416) 968-7311 (media only)
Nancy Chan-Palmateer, Director of Communications Daniel Tisch, ext. 223/ dtisch@argylerowland.com
Jim Ryan, Chief Financial Officer Aline Nalbandian, ext. 226/ aline@argylerowland.com
CRYPTOLOGIC FORWARD LOOKING STATEMENT DISCLAIMER:
Statements in this press release, which are not historical are forward-looking
statements made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Investors are cautioned that all
forward-looking statements involve risks and uncertainties including, without
limitation, risks associated with the Company's financial condition and
prospects, legal risks associated with Internet gaming and risks of
governmental legislation and regulation, risks associated with market
acceptance and technological changes, risks associated with dependence on
licensees and key licensees, risks relating to international operations, risks
associated with competition and other risks detailed in the Company's filings
with securities regulatory authorities. These risks may cause results to
differ materially from those projected in the forward-looking statements.
2
SIGNATURES
Pursuant to the requirement of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
CryptoLogic Inc.
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(Registrant)
Date: March 17, 2003 By: /s/ James A. Ryan
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(Signature)
James A. Ryan
Chief Financial Officer