Versatile Systems Inc.
LSE : VVS

Versatile Systems Inc.

December 29, 2009 13:29 ET

Versatile Closes Private Placement

FOR:  VERSATILE SYSTEMS INC.

TSX VENTURE SYMBOL:  VV
AIM SYMBOL:  VVS

December 29, 2009

Versatile Closes Private Placement

VANCOUVER, CANADA--(Marketwire - Dec. 29, 2009) - Versatile Systems Inc. (TSX VENTURE:VV)(AIM:VVS), announces the
closing of a non-brokered private placement of 39,000,000 Common Shares at a price of CDN $0.105 per Share for gross
proceeds of CDN $4,095,000. Two of the independent directors of Versatile participated in this placement subscribing for
all of the Shares. Alessandro Benedetti subscribed for 19,500,000 Shares of the private placement. Lansdowne Capital
S.A. a company controlled by Bertrand des Pallieres subscribed for 19,500,000 Shares of the private placement. The
Shares will be subject to a four-month hold period to April 30, 2010. The proceeds will be used for general corporate
purposes. Application will be made for the new common shares to be admitted to trading on AIM and dealings are expected
to commence on three business days following application. Upon the completion of the private placement the Company will
have 157,285,643 issued common shares.

About Versatile

Versatile provides business solutions that enable companies to improve sales, marketing and distribution of their
products. Versatile also provides information technology services for the implementation, maintenance and security of
mission-critical computer environments. Versatile has the ability to architect solutions involving both proprietary and
third party components. For more information: www.versatile.com.

Forward-Looking Statements

This document may contain forward-looking statements relating to Versatile's operations or to the environment in which
it operates, which are based on Versatile's operations, estimates, forecasts and projections. These statements are not
guarantees of future performance and involve risks and uncertainties that are difficult to predict or are beyond
Versatile's control. A number of important factors including those set forth in other public filings could cause actual
outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently,
readers should not place any undue reliance on such forward-looking statements. In addition, these forward-looking
statements relate to the date on which they are made. Versatile disclaims any intention or obligation to update or
revise any forward-looking statements whether as a result of new information, future events or otherwise.

(C) 2009 Versatile Systems Inc. All rights reserved.


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FOR FURTHER INFORMATION PLEASE CONTACT:

Versatile Systems Inc.
John Hardy
Chairman and CEO
1-800-262-1633 or International: 001-206-979-6760

OR

Versatile Systems Inc.
Fraser Atkinson
CFO
1-800-262-1633
www.versatile.com

OR

NCB Stockbrokers Limited (Nominated Adviser)
Christopher Caldwell or Barclay Clibborn
+44 (0) 20 7071 5200

The TSX Venture Exchange and the AIM market of the London Stock Exchange have not reviewed and do not accept
responsibility for the adequacy or accuracy of this release.

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Contact Information

  • Versatile Systems Inc.