Versatile Systems Inc.
TSX VENTURE : VV

Versatile Systems Inc.

October 22, 2012 20:58 ET

Bertrand des Pallieres Appointed Chairman of Versatile and Increases His Shareholdings to 20.4%

VANCOUVER, CANADA--(Marketwire - Oct. 22, 2012) - Versatile Systems Inc. (TSX VENTURE:VV) today announces the appointment of Bertrand des Pallieres as the new Chairman of the Board of Directors of the Company. Mr. des Pallieres has been a Director of the Company since December 2008. John Hardy will continue as the Chief Executive Officer.

Mr. des Pallieres announces that over the past week he has acquired through the facilities of the TSX Venture Exchange, an additional 1,330,000 shares of the Company bringing his direct and indirect holdings to 32,107,500 or 20.4% of the total issued shares of the Company. Mr. des Pallieres advises that the securities have been acquired for investment purposes.

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.

© 2012 Versatile Systems Inc. All rights reserved.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

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

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

    Versatile Systems Inc.
    Bertrand des Pallieres
    1-800-262-1633
    www.versatile.com