Marcelle Newstadt to Lead Blue Chip as Sole President

TORONTO, ONTARIO--(Marketwired - Aug. 16, 2017) - Blue Chip Leasing Corporation ("Blue Chip"), a division of Chesswood Group Limited (CHW:TSX) ("Chesswood"), is pleased to announce the appointment of Marcelle Newstadt as sole President. Marcelle started with Blue Chip in 2002 and has been directly responsible for the operations of the business over the last fifteen years.

"We're very excited for Marcelle who now takes over sole responsibility for Blue Chip's continuing growth, after partnering with Ramon Chait, as Co-Presidents," said Barry Shafran, Chesswood's President and CEO. "Marcelle is well known within the Canadian leasing industry and is a highly capable and respected leader," Shafran added.

In September 2017, Ramon Chait will be joining Equilease Corp. ("Equilease") to help support the business's continuing expansion efforts. Equilease is one of Canada's largest equipment finance brokers and a valued and long-time customer of Blue Chip.

"Ramon has made a large contribution to Blue Chip's success and we thank him for those efforts," said Marcelle. "I'm committed to driving the continued growth of Blue Chip, along with our excellent team," added Ms. Newstadt.

Blue Chip's mission is to build mutually beneficial partnerships with its equipment finance brokers through competitive products and superior service. Blue Chip, led by President Marcelle Newstadt, will continue to provide leading edge service and an expanding product appetite as its growth as one of Canada's largest independent equipment finance lenders continues.

About Chesswood

Through two wholly-owned subsidiaries in the U.S. and Canada, Chesswood Group Limited is North America's only publicly-traded commercial equipment finance company focused on small and medium-sized businesses. Our Colorado-based Pawnee Leasing Corporation, founded in 1982, finances a highly diversified portfolio of commercial equipment leases and loans through established relationships with over 600 independent brokers in 48 U.S. states. In Canada, Blue Chip Leasing Corporation has been originating and servicing commercial equipment leases and loans since 1996, and today operates through a nationwide network of more than 50 independent brokers. Based in Toronto, Canada, Chesswood's shares trade on the Toronto Stock Exchange under the symbol CHW (convertible debentures: CHW.DB).

Based in Toronto, Canada, Chesswood's shares trade on the TSX under the symbol CHW (convertible debentures: CHW.DB).

To learn more about Chesswood Group Limited, visit www.ChesswoodGroup.com.

The separate websites of Chesswood Group Limited's operating businesses are at www.PawneeLeasing.com and www.BlueChipLeasing.com.

This press release contains forward-looking statements that involve a number of risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. Many factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. Additional information about the risks and uncertainties of the Company's businesses and material factors or assumptions on which information contained in forward-looking statements is based is provided in its publicly filed documents, including the Company's annual information form and management's discussion and analysis of the financial condition and performance, which are available electronically through the System for Electronic Document Analysis and Retrieval at www.sedar.com.

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