VersaPay Corporation
TSX VENTURE : VPY

VersaPay Corporation

October 09, 2013 08:45 ET

VersaPay Announces Full Exercise of Warrants

TORONTO, ONTARIO--(Marketwired - Oct. 9, 2013) - VersaPay Corporation (TSX VENTURE:VPY) ("VersaPay"), a leading provider of cloud-based financial technology solutions, is pleased to announce that all 702,000 bonus warrants issued pursuant to the Company's note financing on December 21, 2010 at an exercise price of $0.75 were exercised prior to the accelerated deadline (see our news release dated September 12, 2013) for total gross proceeds of $526,500.

The additional funds will be used to expand the rollout of VersaPay's Electronic Invoicing Presentment and Payment platform (EIPP) as well as its existing point-of-sale (POS) business.

About VersaPay

VersaPay is a financial technology company that delivers payment solutions for businesses. VersaPay, together with its partners, provides the hardware, technology, infrastructure and support services to enable businesses of all types required to accept and process electronic payments. In addition, the Company's proprietary electronic invoice presentment and payment platform facilitates the efficient exchange of documents and payments between suppliers and customers. VersaPay has operations in Toronto, Montreal and Long Island, NY.

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 TSX Venture Exchange nor its Regulation 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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