VersaPay Corporation
TSX VENTURE : VPY

VersaPay Corporation

October 15, 2014 10:12 ET

VersaPay Adds Experienced Marketing Leader to Executive Team

TORONTO, ONTARIO--(Marketwired - Oct. 15, 2014) - VersaPay Corporation (TSX VENTURE:VPY) ("VersaPay" or the "Company"), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, is pleased to announce that John McLeod has joined the Company as Vice President, Marketing, bringing his extensive marketing skills and executive experience from a variety of technology companies. Mr. McLeod joins VersaPay after 8 years with Desire2Learn Incorporated, a global SaaS-based learning solutions provider. As Vice President, Marketing, he was instrumental in the company's growth from 35 to nearly 900 employees, serving more than 13 million learners around the globe.

"John brings the marketing know-how and leadership we need to raise brand awareness for VersaPay and more importantly, ARC, our cloud-based solution that automates Accounts Receivable," commented Craig O'Neill, VersaPay's Chief Executive Officer. "Since I joined VersaPay a year ago, I have been building a management team with the skills and experience needed to support our growth plans. John's arrival rounds out that team, and comes at an ideal time as we experience growing demand from customers and partners for our ARC platform."

In addition to Mr. McLeod, VersaPay's management team includes:

Craig O'Neill - Chief Executive Officer and Director. Prior to VersaPay, was the co-founder and CEO of Xeye and the driving force behind its flagship WealthManager product.

David Chan - Chief Financial Officer and Corporate Secretary. A Chartered Accountant, previously worked at Ernst & Young.

Patrick MacDonald - President, POS Group. Prior to VersaPay, worked with one of Canada's leading ATM distributors, which became the number one distributor across Canada.

Mislav Majic - Managing Director VersaPay Solutions. Previously a partner at Facta Vera, a payment automation and cash management company.

Todd Whiton - President, Versapay Payment Technology Solutions, Inc. (US). Co-Founder of Capital Payments, LLC, served as its Chief Executive Officer and President.

Garry Chan - VP Products. Prior to VersaPay, was founder of goodiest.com, a cloud-based technology start-up for small business.

Frank Opat - VP Software Engineering. Held senior software leadership roles at Temenos, Odyssey Financial Technologies and Xeye.

Kevin Short - Co-Founder and Chief Information Officer. Has served in a senior capacity at Sun Microsystems, Nortel Networks, TELUS, Shaw Communications, Bell Canada, Enbridge and TransCanada Pipelines.

About VersaPay

VersaPay is a leading cloud-based invoice presentment and payment provider for businesses of all sizes. VersaPay's Arc and ArcPay software-as-a-service offerings allow businesses to easily deliver customized electronic invoices to their customers, to accept credit card or EFT payments and automatically reconcile payments to their ERP and accounting software.

VersaPay is headquartered in Toronto, Canada, and has operations in Montreal and New York.

More information about VersaPay can be found at www.versapay.com.

Forward Looking and Other Cautionary Statements.

This news release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company's current expectations. When used in this news release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology, are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company with respect to risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks relating to the speculative nature of the Company's business, the Company's formative stage of development and the Company's financial position.

Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward looking statements if these beliefs, estimates and opinions or other circumstances should change.

Neither the TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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