VersaPay Corporation

VersaPay Corporation

September 25, 2014 07:30 ET

VersaPay Retires Outstanding Debt

TORONTO, ONTARIO--(Marketwired - Sept. 25, 2014) - VersaPay Corporation (TSX VENTURE:VPY) ("VersaPay" or the "Company"), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, announces that it has completed the early repayment of all of the outstanding December 2010 secured subordinated promissory notes. The total outstanding amount of the notes was $900,000.

"I am pleased that we are able to repay the promissory notes fifteen months early. In doing so, we are now debt-free, while still having a healthy balance sheet to execute on our growth plans," said David Chan, VersaPay's Chief Financial Officer.

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

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.

Contact Information