Versatile Systems Inc.

Versatile Systems Inc.

November 19, 2007 04:00 ET

Versatile Announces Approval of Normal Course Issuer Bid

VANCOUVER, CANADA--(Marketwire - Nov. 19, 2007) - Versatile Systems Inc. (TSX VENTURE:VV)(AIM:VVS), today announces that it has obtained the approval of the TSX Venture Exchange to make a Normal Course Issuer Bid, for up to 6,000,000 of its common shares through the facilities of the TSX Venture Exchange. Purchases will be made in accordance with the rules and policies of the Exchange. The maximum number of shares to be purchased under the bid represents approximately 4.9% of the total currently outstanding and issued shares of Versatile. The purchases may commence on November 26, 2007 and will terminate on November 25, 2008.

Purchases pursuant to the bid will be made by Canaccord Capital Corp. on behalf of Versatile. The price which Versatile will pay for any such shares will be the market price of such shares at the time of acquisition. The shares purchased pursuant to the normal course issuer bid will be cancelled.

Versatile's management believes that the current market price of its common shares do not fully reflect the underlying value of the common shares, and that, accordingly, purchasing its own common shares would be in the best interests of Versatile and its shareholders. Such purchases will increase the proportionate interest of, and may be advantageous to all remaining shareholders.

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:

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.

(C) 2007 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
    Chairman and CEO
    1-800-262-1633 or International: 001-206-979-6760
    Versatile Systems Inc.
    Fraser Atkinson