VersaPay Corporation
TSX VENTURE : VPY

VersaPay Corporation

May 05, 2014 09:29 ET

VersaPay Nominates Art Mesher as New Board Member

TORONTO, ONTARIO--(Marketwired - May 5, 2014) - VersaPay Corporation (TSX VENTURE:VPY) ("VersaPay" or the "Company"), a leading provider of cloud-based payment solutions, is pleased to announce that Arthur ("Art") Mesher has been nominated to stand for election to VersaPay's Board of Directors at the Company's upcoming Annual General and Special Meeting of Shareholders, to be held on May 28, 2014.

Art Mesher is a pioneer in harnessing the integration of business communities and is considered one of the founders of SaaS networks and cloud computing. Mesher began building SaaS-based technology to automate freight processes in the 1980s and helped start and grow Vocam Systems, a logistics network software company which went public before being acquired by Pitney Bowes in 1990. Subsequently, Mesher was President of Advanced Logistics Research, where he helped leading companies such as AMR (Sabre), CSX and Caterpillar develop and deploy emerging technology-based supply-chain strategies. He also launched the Integrated Logistics Strategies Services practice at Gartner Group Inc., a leading technology research and advisory firm, and built it into one of the premiere advisors to major global corporations. Art is currently the Chancellor of CleanSL8.DNA and the Chairman of the Board of The Core Group. He also sits on the Board of Directors for QHR Corporation, Nulogy, and Difference Capital Financial Inc. More recently, Art was the CEO and Chairman of the board of The Descartes Systems Group Inc., leading the creation of the first on-demand logistics network that provides application and communication capabilities. Appointed CEO in 2004, he spearheaded the company's turnaround from large losses to awarding-winning accolades and financial performance. During his tenure, Descartes was awarded Best Canadian Corporation (from Canadian Business magazine) and Best Business Turnaround (International Business Awards) in 2006, along with winning one of Canada's 10 Most Admired Corporate Cultures (from Waterstone Human Capital) in 2012. Most notably, Art was selected as the Council of Supply Chain Management Professional's (CSCMP) 2008 Distinguished Service Award recipient.

"We feel Art's knowledge and experience building world-class technology companies will make him a valuable addition to the VersaPay board," commented Jason Gurandiano, Chairman of the Board of VersaPay. "We are all looking forward to working with Art as we continue VersaPay's evolution as a leading cloud-based technology company."

Arthur Mesher will join Jason Gurandiano, Wendy Porter, David Peterson, Eleanor Chiu, Brian Kyle and Craig O'Neill (CEO) as nominees for VersaPay's Board of Directors. Incumbent director Bill McGill, will not seek re-election. Mr. Gurandiano added, "The Board would like to thank Bill for his service and loyalty to VersaPay over the past five years, both as a board member and past CFO and CEO."

About VersaPay

VersaPay is a financial technology company that delivers payment solutions for businesses. Serving more than 2,500 customers, VersaPay, together with its partners, provides the hardware, technology, infrastructure and support services to enable businesses of all types to accept and process electronic payments. In addition, ARC™, the Company's cloud-based invoice presentment and payment platform facilitates the efficient exchange of documents and payments between suppliers and customers. 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.

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